CUSTOMER_CODE
SMUDE
DIVISION_CODE
SMUDE
EVENT_CODE
JULY15
ASSESSMENT_CODE MK0012_JULY15
QUESTION_TYPE
DESCRIPTIVE_QUESTION
QUESTION_ID
72975
QUESTION_TEXT
Explain the various retail pricing strategies followed by the retailers to
meet their short and long term objectives.
SCHEME OF
EVALUATION
Every Day Low Pricing (EDLP), Loss leader pricing, Skimming pricing,
Pentration Pricing, Price lining, Psychological pricing, positioning,
Popular price proings, fair pricing.
QUESTION_TYPE
DESCRIPTIVE_QUESTION
QUESTION_ID
125851
QUESTION_TEXT
Examine the major steps in strategic planning process.
1.
Defining the business philosophy and mission and corporate
objectives
SCHEME OF
EVALUATION
2.
Situation analysis
3.
Identification and evaluation of strategic opportunities
4.
Development of suitable retail mix strategy
5.
Implementation and control
QUESTION_TYPE
DESCRIPTIVE_QUESTION
QUESTION_ID
125854
QUESTION_TEXT
Elaborate the various market entry methods in International
Retailing.
SCHEME OF
EVALUATION
1.
Exporting
2.
Licensing
3.
International sub-contracting
4.
Joint ventures
5.
Wholly owned subsidiary
6.
Franchising
7.
Acquisition
QUESTION_TYPE
DESCRIPTIVE_QUESTION
QUESTION_ID
125855
QUESTION_TEXT
Explain some of the important applications of technology in retail
sector.
SCHEME OF
EVALUATION
1.
Marketing Information Systems
2.
Databases
3.
Internal records
4.
Electronic Data Interchange
5.
Enterprise Resource System
QUESTION_TYPE
DESCRIPTIVE_QUESTION
QUESTION_ID
125856
QUESTION_TEXT
Define Market Segmentation in Retail marketing; State the main 4
reasons for the importance of market segmentation. Explain the criteria
for effective segmentation
Segmentation
Reasons
SCHEME OF
EVALUATION
(1 marks)
( 3 marks)
1.
Availability of Choice
2.
Market fragmentation
3.
The development of retail power
4.
The volume Trap
Criteria for effective segmentation (6 marks)
1.
Clearly defined and distinguishable
2.
Measurable / identifiable
3.
Accessible
4.
Response and suitability
5.
Substantial
6.
Actionable
QUESTION_TYPE
DESCRIPTIVE_QUESTION
QUESTION_ID
125858
QUESTION_TEXT
Define retailing. Explain the functions of retailer
“Retailing is a set of activities that enables selling of goods and
commodities to the customers or end consumer in small quantities”
2 Marks
Functions
I.
SCHEME OF
EVALUATION
II.
Major functions
1.
Sourcing and buying
2.
Storing
3.
Selling
3 Marks
Supporting functions
1.
Grading and packing
2.
Risk bearing
3.
Logistics and transportation
4.
Value added services
5.
Provision of information
6.
5 Marks
Store operations