BBA410 - Retail Management

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PROGRAM BACHELOR OF BUSINESS ADMINISTRATION (BBA)

SEMESTER IV

BBA410 – Retail Management

1 Elucidate any five major retail marketing mix followed by modern retailers.

Five major retail marketing mix followed by modern retailers.

Answer:

Retail Marketing Mix

Marketing is strongly tied to the idea of branding and innovation. Marketing and promotional campaign form an integral part of retailers’ strategies. These are used to increase visibility, drive sales, advertise new products, popularise products and reach out to new customers. The way you design your marketing mix affects your value proposition and the way customers perceive your store. It will vary based on the type of consumers you serve and the market in which you operate. Finding the correct marketing mix is an important part of positioning the retail outlet to be distinguished from the competitors. Retail marketing mix is the term used to describe the various elements and methods required to formulate and execute retail marketing strategy. Retail managers must determine the optimum mix of retailing activities and coordinate the elements of the mix. The aim

2 Write a detailed note on inventory management.

Inventory Management

Answer:

Inventory management

Retail inventory management is the process and methods used to keep track of the stock in a retail business. These methods control everything from ordering, shipping, receiving, tracking inventory, retail turn-over, and storage. Retail inventory management can help keep a business’ profits at a steady margin as well as reduce theft and loss of inventory. Inventory involves the task of allocating the merchandise to various stores which usually rests with the merchandise management

3 What are the elements of store design? Explain each in detail

Answer: Elements of store design

Store marquee

Store marquee is the first mark of identification of the retailer or the retail store. It is also sometimes called as a sign board. The store marquee is usually painted or is a neon light displaying the store name or trade

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