IGNOU MS-612 - Retail Management

1. a) Explain the terms retailing and wheel of retailing. Discuss the key decision areas that a retailer has to consider for its success. b) Why it is necessary to have a sound knowledge of consumers and the various stages of consumer decision making process in retail business? Explain. 2. a) Success of any retail business is primarily attributed to its locations. Discuss the above statement in terms of the choice of location criteria being adopted and all after aspects in this regard. Explain with example. b) Define and explain the role and various component of atmospheric in the context of retail business. 3. a) Discuss the importance and the key role of sourcing function in retail business. Explain the various steps involved in sourcing process. b) Discuss the concept of relationship marketing. How does it stand different from transactional marketing? Illustrate with an example. 4. a) List the legal and security issues in the context of retail business. Discuss each of these issues and their impact on the retail operations. b) What is the role of technology in retailing in the current business environment? Indentify the application areas of technology and comment on their role on retail business.

1(a) With the help of secondary data sources available for the last ten years on retail sector. You are advised to prepare and submit a write up on the emergence and development of the retail sector in India, contributing to the Indian economy. (b) What is a retail format? List out the various types of retail formats based on form of ownership and store strategy mix. 2(a) What are the various situational variables that influence the retail shopping behavior? Discuss their influence on working women. (b) Explain the significance of marketing research in retailing. What consumer research strategies are generally used by market researchers specific to a lifestyle departmental store? Elaborate the nature of consumer research strategy that will need to be used in this situation. 3(a) Explain the term merchandising with a suitable illustration. Elaborate the various steps to be considered while planning merchandize for a men’s readymade retail outlet. (b) Explain the importance of pricing in retail. Discuss the pricing objectives that a retailer or any retail business should consider while pricing their merchandize. 4(a) Elaborate why sourcing as a key functions of retailing. What are the various steps involved in the sourcing process? Illustrate with an example. (b) Discuss the key aspects of loyalty programmes. What loyalty programs can be introduced in the retail outlets for increasing traffic? Discuss.