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DRIVE
SUMMER 2015
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
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)
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:
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
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
2.
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
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