BBR601-Modern Retail Management Process and Retail Services

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ASSIGNMENT

DRIVE	FALL 2017
PROGRAM	Bachelor of Business Administration- BBA
SEMESTER	6
SUBJECT CODE & NAME	BBR601-Modern Retail Management Process and Retail Services
BK ID	B 1940
CREDITS & MARKS	4 Credits, 60 marks

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.

QUESTION 1 What are the main factors challenges international retailing? List down the leading international retailers.

ANSWER: Global Retail Challenge #1: Cultural Complexities are Challenging When Selling Overseas

It is important to know your customer, their preferences, and values in any market; but this task is even more complex in foreign markets. People in different countries place different values and priorities on different products. And some consumers prefer to buy certain products online, while others choose the the traditional marketplace. For example, a survey conducted by Pitney Bowes, a global technology company, found that while

QUESTION 2 Briefly discuss the   internal resource and competitive advantages with examples.

ANSWER: Traditional category management is an old concept in a brave new world. Retailers need a new solution as they enable the level of differentiation necessary to attract consumers with an ever-grow­ing number of shopping alternatives.

Merchants need a better way to create differenti­ated customer experiences, build solid category strategies, design compelling assortments, plan productive planograms, and efficiently price and promote to the market—and they need it now. Enabling all this will, in most of today’s retailers, require changes to processes tools and

QUESTION 3 Explain in detail Expansion strategy. 

Answer:  The Expansion Strategy is adopted by an organization when it attempts to achieve a high growth as compared to its past achievements. In other words, when a firm aims to grow considerably by broadening the scope of one of its business operations in the perspective of customer groups, customer functions and technology alternatives, either individually or jointly, then it follows the Expansion Strategy. The reasons for the expansion could be

QUESTION 5 Mention some of the ways by which retailers can build relationship with the customers. 

ANSWER: 1. Build your network--it's your sales lifeline. Your network includes business colleagues, professional acquaintances, prospective and existing customers, partners, suppliers, contractors and association members, as well as family, friends and people you meet at school, church and in your community.

Contacts are potential customers waiting for you to connect with their needs. How do you turn networks of contacts into customers? Not by hoping they'll

QUESTION 6 Write short notes on:

a) Internet Retailing

ANSWER: Internet Retailing is the trade publication for Europe’s multichannel and eCommerce retail professionals. Through research, long-form content and senior level conversation, IR provides analysis, insight, and stimulus for Europe’s multichannel retailers. Our team of dedicated editors cover the whole multichannel ecosystem - web, mobile, digital in-store, marketing, retail operations, merchandising, logistics and delivery. In

 b) Corporate Social Responsibility (CSR)

ANSWER: Corporate Social Responsibility is a management concept whereby  companies integrate social and environmental concerns in their business  operations and interactions with their stakeholders. CSR is generally  understood as being the way through which a company achieves a balance  of economic, environmental and social imperatives (“Triple-Bottom-Line-  Approach”), while at the same time addressing the expectations of  shareholders and stakeholders. In this sense it is important to draw a  distinction between

Key CSR issues: environmental management, eco-efficiency, responsible sourcing, stakeholder engagement, labour standards and working conditions, employee and community relations, social equity, gender balance, human rights, good governance, and anti-corruption measures.

A properly implemented CSR concept can bring along a variety of competitive advantages, such as enhanced access to capital and markets, increased sales and profits, operational cost savings, improved productivity and quality, efficient human resource base, improved brand image and reputation, enhanced customer loyalty, better decision making and risk management processes.

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