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Introduction to Retail

September 2023 Examination

 

 

1. For success of any business organization the key crucial concept is called as Location, Location, Location..." Considering the fact, identify & describe the major types of locations with its Pro's & Con's that a retailer must consider while focusing on site selection a company should focus upon? (10 Marks)

Ans:

Introduction:

Inside the competitive international business, the old adage "place, location, place" holds immense significance for stores. The choice of place can make or smash a retail enterprise, directly impacting purchaser attain, accessibility, and usual profitability. This essay delves into the main kinds of businesses that stores need to keep in mind when they specialize in site choice, alongside their advantages and disadvantages.

Concepts and Applications:

1. Urban Locations:

Urban locations discuss with regions within cities or densely populated urban facilities. These locations offer high foot site visitors, a various

 

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2. "Variety is considered as the opportunity of business growth and development." Considering the fact, bring about the different types of Store-Based Retail Strategy Mixes that companies can offer in the market. (10 Marks)

Ans:

Introduction:

Variety is a fundamental element of business boom and development inside the retail industry. For corporations seeking to thrive in a competitive market, providing various products and services is essential to cater to the needs and choices of an extensive consumer base. Store-primarily based retail strategies encompass groups' techniques and methods to give their products and engage with customers in physical retail settings. These techniques can significantly impact a company's achievement by creating particular purchasing reports and maximizing purchaser delight. In this essay, we can explore numerous store-based retail

 

3. a. "A business succeeds when we keep focus on the process, considering the fact explain the steps involved in consumer decision process?" (5 Marks)

Ans;

Introduction:

Within the dynamic global business, a company's fulfillment relies heavily on its capability to apprehend and affect consumer behavior. Patron decision-making is a complicated process that involves several ranges, every of which performs an essential position in shaping the final purchase decision. By focusing on this technique, groups can correctly tailor their

 

3. b. Operations management is efficient and effective implementation of the policies and considering the elements describe the different types of consumer decisions? (5 Marks)

Ans :

Introduction:

Operations control is essential for any organization specializing in correctly and effectively implementing guidelines, tactics, and techniques to achieve organizational goals. It involves coordinating and controlling the various elements inside a company's practices to ensure clean operations and satisfy purchaser desires. One enormous thing that influences operations