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DRIVE
SUMMER 2014
PROGRAM
MBADS (SEM 3/SEM 5)
MBAFLEX/ MBA (SEM 3) PGDROMN (SEM 1)
SUBJECT CODE &
NAME
ML0011-Buying and
Merchandising
BK ID - B1762
CREDIT & MARKS
- 4 Credits, 60 marks
Q.1. Explain the components of
Merchandise budget plan. 10
ANS: Components of Merchandise Budget Plan: The various components of
merchandise budget plans are as follows:
1. Planned Sales and Stock levels: Planning sales and stock levels
is the first step in the preparation of a sales forecast for a particular
period (say, one season) and for each month in that particular season for which
a retailer wishes to prepare a budget plan. After this, the retailer should
determine the beginning of month (BOM) inventory in order to specify the
desired rate of stock turn for each month of the season under study. Stock
turns or stock turnover is a used to determine how many times has
Q.2. “Merchandise buying and handling
is a vital part of implementing merchandise Plans”. Explain this statement. 10
ANS: Merchandise Buying and Handling Process: Merchandise buying and handling
is a vital part of implementing merchandise plans. This is a step by
step process and involves the following stages:
(i) Collecting information about vendors
(ii) Selecting vendors
(iii) Evaluating merchandise
(iv)
Q.3. Explain the different phases
for selection of vendors. 10
ANS: Phases for Selection of Vendors: As discussed earlier, vendor
selection process is a time consuming task. The following are the four
phases involved in a typical vendor selection process:
1. The Survey Phase: The survey phase is the first
phase which encompasses the following:
(i) Identification of potential suppliers
Q.4. Explain inventory turnover
ratio and its importance. ( Explanation, Importance) 5,5
ANS: Inventory Turnover: Inventory turnover ratio is one
of the most important ratios in the line of retailing that not only
shows the health of a sound business but presents a view of how a
business is operating efficiently.
Inventory Turnover: Inventory turnover is a ratio of
the total cost of goods sold in a year to the average inventory level in
rupees. The benefit of using this ratio is to know how quickly the
retail store is getting its inventories and how quickly the sales are
taking place. The inventory of a retail store represents the largest
expense to its total expenditure cost. The sale of items from this
inventory causes profit to a retailer. Therefore, the money invested in
merchandise is of utmost importance to a retailer to have a profitable
situation. The Inventory turnover ratio of a retail outlet is calculated
by
Q.5. “Price is a highly sensitive
and visible part of retail marketing mix and has bearing on the retailer’s
overall profitability”. Explain the three pricing strategies in this context.
10
ANS: Pricing Strategies:
1. Demand oriented pricing: Under
demand oriented pricing, prices are based on what the customers expect or
might be willing to pay. It determines the range of prices affordable by the
target market. Under this method, retailers not only consider their profit
structure but also calculate the price-margin effect that any price will
have on the sales volume. As the name implies, demand oriented
pricing strategy seeks to forecast the quantities (sales volume) that
the customers would
Q.6. Explain the following terms
(i) Retail Planograms
(Explanation) 5
(ii) Signage(Explanation of
meaning and types) 5
ANS: Retail Planograms: A planogram is a schematic
drawing of an arrangement of goods that gives an idea of how the
products will be arranged in the retail store. It helps the retailer in knowing
where and how many racks/shelves should be arranged, where and at what
gaps they will be arranged, which items will be placed on which shelf, etc. In
short, a planogram is a blueprint which gives all the major and minor information
about the merchandise arrangement. Sometimes, planograms are also
referred to as POGs, plano-grams, plan-o-grams, and schematics (archaic). A
planogram indicates
Get fully
solved assignment, plz drop a mail with your sub code
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700/semester only.
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