DRIVE
Spring
2019
PROGRAM
Bachelor
of Business Administration- BBA
SEMESTER
Semester
6
SUBJECT
CODE & NAME
BBR605
–Modern Retail Management Process and Retail services
SET
1
1
What are the main factors challenges international retailing? List down the leading
international retailers.
Factors challenges
international retailing
List the leading
international retailers
Answer: Challenges in International Retailing
·
New
Environment: A retail organisation needs to understand the
culture, values and ethics of a country where it wishes to operate in order to
fulfil the requirements of the customers of that country. This requires
extensive market research and huge cost, which can be a challenge for the
organisation.
·
Distribution
Network: It is another major challenge for new entrants in
international retailing. A retailer needs to maintain an efficient distribution
network including suppliers, manufacturers and vendors in order to fulfil the
demands of customers.
Competition: Competition is a crucial aspect of any kind of
retail business that necessitates changes Its half solved only
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2 Briefly discuss the
internal resource & competitive advantages with examples.
Internal resource and
competitive advantages
Answer: Internal Resources and Competitive Advantage
Globalisation and easing retail FDI norms are
also going to intensify competition in the Indian retail market. To survive in
the market and gain an edge over its competitors, a retail organisation needs
to manage its internal resources effectively. These internal resources are:
·
Workforce: It
plays an important role in strengthening the competitive position of a retail
organisation. Efficient and trained workforce helps an organisation to meet its
pre-determined goals and objectives effectively and boosts its sales. Moreover,
it contributes in shaping corporate culture and spreading best practices,
shared values and messages. This ultimately helps a retail organisation to gain
an edge over its competitors.
3
Explain in detail Expansion strategy.
Expansion strategy
Answer: Expansion means opening more stores
in more geographies. For example, domestic retailers can expand their
businesses by entering into global markets. Usually, retailers expand their
businesses when
SET 2
1
What are the modes of retail promotion?
Modes of retail promotion
Answer: How do you get
acquainted to a new brand every time? Promotion does it for you. Promotion
indicates the effort of any organisation to communicate about its offerings to
the target consumers. It constitutes an important part in marketing. The main
aim of promotion is to create sufficient demand for products, thereby,
increasing store traffic.
Brands can be prom
2
Mention some of the ways by which retailers can build relationship with the
customers.
Ways by which retailers can
build relationship with the customers
Answer: In today’s competitive business scenario, you
have numerous alternatives for a single product. This may encourage you to
switch from one brand to another based on factors such as the quality and
price. However, in certain cases, you prefer to stick to one particular brand
or retailer. Ever thought why does it happen? This is due to the long-term
relationship that the organisation
3
Write short notes on:
a)
Internet Retailing
b)
Corporate Social Responsibility (CSR)
Answer: a) The Internet is a system that inter-connects
different computer networks through Internet Protocol Suite or IP to serve
billions of users across the world. It allows users to exchange data, ideas,
news and opinions with each other from any location in the world. In retail,
the Internet has enabled retailers to get in touch with manufacturers,
wholesalers and customers from distant locations without spending too much time
and effort. These significant changes in retail have led to the evolution of
the term ‘Internet retailing.’
Internet retailing can be defined as a form of
e-commerce, whereby consumers can purchase retailers’ products and
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PROGRAM
Bachelor
of Business Administration- BBA
SEMESTER
Semester 6
SUBJECT
CODE & NAME
BBR606
–Retail Project Property Management and
Case
Studies in Retail
SET 1
Qus:1 What are the duties of a property Manager?
Answer: Every organisation requires a manager to administer the
different activities and explore opportunities. Similarly, property business
also has managers who are called property managers. A property manager is a
person who works as an agent. He works for either the land owner or the
appointed representative. Usually, this involves carrying out the functions of
the land owner when he/Its half solved only
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Qus:2 Define a property management plan. What are the steps
for formulating it?
Answer: Planning is the foremost function of any work or project
initiation. It helps I determining the future, making optimum utilisation of
resources, and facilitating coordination. Without a result-oriented management
plan, no organisation can come close to accomplishing its desired goals. The
process of planning is well executed in the real estate industry. That is why
today, the real estate industry is one of the influential sectors of any
economy. The increasing opportunities in real estate business are the result of
a well-built property management plan
Qus:3 How to evaluate the performance of a property as an
investment asset?
Answer: It
is essential for an owner to evaluate the performance of a property as an
investment asset so that it can earn the maximum return over it. For this
purpose, the tool PPM has been developed.
PPM assesses the success of a property
investor in his/her investment, by quantifying the previous performance against
a set of targets. Apart from this, it helps in the following:
Helps investors to identify whether the
targets set for the investment are attained or not
Helps
SET 2
Qus:1 Define lease. What are the different types of lease
payments?
Answer: A lease is a legal document that mentions the terms under
which one party agrees to take a property on rent from another party. This
process of using the property against the rent is called leasing. Leasing
guarantees the lessee (the renter), use of an asset and guarantees the lessor
(the property owner), regular payments from the lessee, for a specified time
frame. Both the lessee
Qus:2 What are the determinants of retail property value?
Answer: Any upcoming development plans by the government or civic
bodies can affect the value of property both negatively and positively.
Building new schools, hospitals and roads can change the character of an area
and lessen the appeal of the location because of increased traffic and noise
levels.
However, not every change is
detrimental to property values. Some changes can be beneficial too. Some
positive
Qus:3 Write short notes on:
a) Special Economic Zones
b) Future design of retail store
Answer: a) Special Economic Zones
Special Economic zone (SEZ) is a
geographical region that is designed to export goods and provide employment.
SEZs are exempt from federal laws regarding taxes, quotas, FDI-bans, labor laws
and other restrictive laws in order to make the goods manufactured in the SEZ
at a globally competitive price. Such areas boost employment in that region.
The economic laws which govern the
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DRIVE Fall 2018
PROGRAM Bachelor of Business Administration- BBA
SEMESTER Semester 6
SUBJECT CODE &
NAME
BBR607 –Merchandising &Supply chain Management
SET 1
1 Discuss the concept of retail supply
chain.
Concept
of retail supply chain
Answer: Concept of Retail Supply
Chain
The success or failure of a retail supply chain depends on
stock-outs. Stockouts (lost sales) represent the failure of supply chain. It is
a serious situation for a retail organisation as it is difficult to determine
the accurate amount of lost sales and goodwill. As a result, stock-outs have
become strategically important items instead of only an operational issue.
Besides stock-outs, the retail supply chain faces various other
issues, which are given below.
Ø
Gathering accurate customer
requirement
Ø Complex supply chain due to fragmented supply basis
Ø Small store shelf life
Ø Focus more on services like free home delivery than the products
Ø
Changes in the
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2 Elaborate on
the management of retail product life cycle.
Management
of retail product life cycle
Answer: Management of Retail
Product Lifecycle
Retail
product design
Product
design has become an essential part of retailers’ supply chain processes. For
some products, customers’ choices vary to a wide range, and where private
labels dominate, the success/failure of the retailers depend on the product
design. The examples of such products include apparel, jewellery, and footwear.
In case of grocery or packaged products, the private labels are preferred and
thus, the product design becomes important. Private labels provide several
benefits such as ensuring
3 What are the factors affecting
merchandise buying functions?
Factors
affecting merchandise buying functions
Answer: Factors
affecting merchandise buying functions
Merchandising
is not an isolated function. It is affected by several factors, which are
discussed as follows:
Size
of a retail organisation: Retailing function varies with
size of an organisation. The requirement of an independent retailer is
different from the needs of a large retail chain organisation. In case of an
independent retailer owning a single store, the owner or manager along with the
sales person perform the buying function of merchandise. In addition, the
buying function is centralised in a single retail store. On the contrary, in
case of a large retail chain organisation, the buying function is performed by
a procurement team and the buying function can be either centralised or
decentralised.
Type
of retailing:
The
buying
SET 2
1 Elaborate the process of merchandise
planning.
Process
of merchandise planning
Answer: Process of
merchandise planning
Merchandise
planning is based on merchandise strategy prepared by the organisation. The
process of merchandise planning involves two important tasks, which are:
Ø
Determining goals for effective
merchandise management
Ø
Preparing plans to meet the merchandise
management goals
In
many retail organisations,
2 Discuss some of the standard color
schemes adopted in retail stores with example.
Standard
color schemes
Answer: Shoppers most often choose what
they buy based on color. In fact, it can account for up to 85 percent of the
reason people buy one product over another, according to the Color Marketing
Group, a professional organization for color designers in Alexandria, Va.
Color's
influence on consumer behavior isn't confined to just merchandise. The colors
surrounding customers while they're shopping also can influence whether they
make a purchase. "Colors in a store format can create different emotions
and store retailers can use that," says Rich Kizer
3 Write short notes on:
a) Retail Replenishment
b) Retail ERP
Answer: a) The process
of filling up the empty shelves of retail stores with new merchandise is called
retail replenishment. However, this definition does not address all the
business conditions of retail inventory management. The replenishment of
products in a retail store depends on
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