CUSTOMER_CODE SMUDE DIVISION_CODE SMUDE EVENT_CODE SMUAPR15 ASSESSMENT_CODE BBA405_SMUAPR15 QUESTION_TYPE DESCRIPTIVE_QUESTION QUESTION_ID 20252 QUESTION_TEXT What are the stages involved in the merchandise planning SCHEME OF EVALUATION Stages of Merchandise planning: 1. Developing sales forecast( 5 marks ) Sales forecasting is made based on the targets and inputs given by the top management. Sales forecasting enables to determine the inventory needs for a particular product or category. Process of developing sales forecast 1.Reviewing past sales 2.Analyzing the changes in economic conditions 3.Analysing the changes in the sales potential 4.Analysing the changes in the marketing strategies of the retail organisation and the competition 5.Creating the sales forecast 2. Determining merchandise requirements( 2 marks ) The levels of planning merchandise a.Creation of merchandise budget: Merchandise budget is referred to as a financial plan that indicates how much to invest in product inventories, usually stated in rupees per month. Earmarking of merchandise budgets is considered to be a vital component of the planning phase. b.Assortment plan: An assortment plan is a description of items a retailer would like to have in his store in a particular merchandise category. Planning merchandise assortment is a significant part of a retailer’s financial success. 3. Merchandise inventory planning: ( 3 marks ) Planning of inventory can be made by using any one of the following four methods. a. Basic stock method b.The percentage variation method c.Stock to sales ratio method d.Stock turnover rate QUESTION_TYPE DESCRIPTIVE_QUESTION QUESTION_ID 72726 QUESTION_TEXT Explain the factors influencing the Retail consumer. 1. Cultural factors- culture, subculture, social class 2. Social factors- reference groups, family, roles and status 3. Personal factors- age, occupation, economic situation, lifestyle, personality 4. Psychological factors-motivation, perception, beliefs and attitudes 2.5x4=10 marks SCHEME OF EVALUATION QUESTION_T DESCRIPTIVE_QUESTION YPE QUESTION_ID 125564 QUESTION_T Briefly describe various retail formats and types with suitable examples. EXT Various retail formats are: 1. Store retail format a) Convenience store: It is generally well situated, food oriented store with long operating hours and limited number of items. Example: Circle K, SPAR b) Supermarkets: Diversified stores which sell a broad range of food and non-food items. Examples: Food World, Nilgiris c) Departmental stores: Consists of several product lines, typically clothing, home furnishings, house hold goods. Example: Ebony, Shoppers Stop SCHEME OF d) Speciality store: This has a narrow product line with a deep EVALUATION assortment. Example: Music World, Pizza Hut, Tanishq e) Hyper markets: It is special kind of combination store which integrates an economy supermarket with a discount department store. Example: Carrefour, Tesco f) Mom and pop stores: These are family owned businesses catering to small sections of society. Very common in India and called ‘Kirana Stores’ g) Category killers: These are small speciality stores that have expanded to offer a range of categories. Example: RUs h) Malls: These are largest form of retail formats. Provide mix of all kind of products and services, food and entertainment under one roof. Example: TDI mall in Delhi, Sahara Mall i) Discount store: Stores o factory outlets that provide discount on the MRP items. Examples: discount sporting goods store, electronic stores. j) Off-price retailer: merchandise bought at less than regular wholesale prices and sold at less than retail prices. Examples: stores with discount sales k) Superstore: About 35,000 sq.ft of selling space traditionally aimed at meeting consumer’s total need of routinely purchased food and non-food items. (7 Marks) 2. Non store retail format a) E-tailers: These are retailers that provide online facility of buying and selling products and services via internet. Examples: Amazon.com, Ebay.com b) Vending: Offering smaller products such as beverages and snacks through vending machines. Not common in India. c) Catalogue retailing: Sell products by offering the available products through catalogues. d) Direct selling: Involves contacting the end customers personally at home or work place. Example: Amway and Modicare. (3 Marks) QUESTION_TYPE DESCRIPTIVE_QUESTION QUESTION_ID 167289 QUESTION_TEXT Discuss the functions of Merchandising Manager Answer: Planning, Directing, Coordinating, controlling SCHEME OF EVALUATION