BBA405 - RETAIL MANAGEMENT

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ASSIGNMENT

DRIVE FALL	2013
PROGRAM	BBA
SUBJECT CODE & NAME	BBA405 - RETAIL MANAGEMENT
SEMESTER	4
BK ID	B1712
CREDITS	2
MARKS	30

Note: Answer all questions. Kindly note that answers for 10 marks questions should be approximately of 400 words. Each question is followed by evaluation scheme.

Q. 1 Explain the 4 principles of Retailing Concept and explain the 8 functions of Retailing?

Ans : Principles of Retailing:-

If you are running a retail business , whether bricks and mortar or online , there are four core principles you need to adhere to. From customer care to the four Ps, Antony Welfare, author of The Retail Inspector’s Handbook, explains what you need to know.

Principle 1 :The customer is the most important

Q.2  What are the various factors influencing the retail consumers?

Ans : Many factors influence retail trends; these factors are linked to current changes in the population, including the increase in reliance on social media and concern for the environment. Retailers are wise to adapt to the way consumers prefer to shop, while using social media in creative ways to market products to target audiences. With the increase in online shopping, retailers are responding by creating user-friendly websites and providing discounts on shipping.

1. Environmental Awareness:-

Q. 3 Describe the different kinds of markets and explain the benefits of market segmentation.

Ans : Four kinds of markets:

1.Perfect Competition:-

Perfect competition is a market system characterized by many different buyers and sellers. In the classic theoretical definition of perfect competition, there are an infinite number of buyers and sellers. With so many market players, it is impossible for any one participant to alter the prevailing price in the market. If they attempt to do so, buyers and sellers have infinite alternatives to pursue.

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