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ASSIGNMENT
DRIVE summer
2017
PROGRAM BBA
– RETAIL OPERATIONS
SEMESTER V
SUBJECT
CODE & NAME BBR503
&BUYING
BOOK ID B1804
CREDITS 2
MARKS 30
Note: Answer all
questions. Kindly note that answers for 10 marks questions should be
approximately of 400 words. Each question is followed by evaluation scheme.
Ques1 List a few key roles and responsibilities of a
retail buyer.
Ans The role of a
retail buyer is not only confined to buying products but also includes various
other responsibilities, such as planning, forecasting, liaisoning, etc.
However, the responsibilities of a buyer vary across organisations. Many retail
giants like Walmart, Future Group and Reliance
Ques2 Discuss the concept of product mix &
consignment buying.
Ans Product
assortment, also known as a product mix, is basically a variety of product
lines that a retailer stocks to fulfil the requirements of consumers. It generally
refers to the length, breadth, depth and consistency of products stored by a
retailer. Let us discuss the concept of product mix with the help of an
example.
The
following is a brief
Ques3 What are the five stages of buying decision
making?
Ans A buying
decision is the process of making up one’s mind to buy a particular product.
For example, as a customer, you cannot just go and purchase a product. You need
to first make up your mind to purchase that product. Similarly, retailers also
need to follow certain steps in order to make more efficient
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