DBB3321 MODERN RETAIL MANAGEMENT PROCESS AND RETAIL SERVICES FEB MARCH 2025

Description

Assignment Set – 1

1. Describe the different types of retailing with help of examples. 10

Ans 1.

Department Stores

Department stores are large-scale retail establishments offering a wide range of product categories, including apparel, home furnishings, cosmetics, electronics, and groceries, all under one roof. They emphasize customer convenience by providing extensive merchandise choices and often employ trained sales personnel to enhance the shopping experience. For instance, Shopper’s Stop in India, Macy’s in the United States, and Marks & Spencer in the United Kingdom exemplify prominent department stores that cater to diverse customer needs.

Specialty Stores

Specialty stores focus on selling a particular category or type of product, providing extensive

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2. What do you understand by retail segmentation? Discuss the importance in targeting different customer groups. 3+7

Ans 2.

Retail Segmentation and Its Importance in Targeting Different Customer Groups

Understanding Retail Segmentation

Retail segmentation involves dividing the overall market into distinct groups or segments based on specific characteristics, preferences, buying behaviors, or demographic factors. Retailers utilize segmentation to clearly identify and define different consumer categories, enabling more targeted and effective marketing strategies. Common segmentation criteria include demographics (age, gender, income), geographic locations, psychographic profiles (lifestyle,

3. Why is retail strategy important for achieving market share in a highly competitive market? How does a well-defined retail strategy impact a retailer’s success? What role does retail strategy play in navigating a competitive market? 3+3+4

Ans 3.

Importance of Retail Strategy for Achieving Market Share

Understanding the Competitive Environment

In today’s highly competitive retail environment, having a well-formulated retail strategy is essential to secure and expand market share. As consumers are presented with multiple choices across various brands and platforms, retailers must differentiate themselves to remain relevant. A retail strategy helps define a unique value proposition, enabling retailers to capture the attention of target customers and stay ahead of the competition.

Focusing on Target Markets

A clear retail strategy guides businesses in identifying and targeting specific consumer

Assignment Set – 2

4. Discuss the different factors which are responsible for growth of organized retailing.

Ans 4.

Economic and Demographic Factors

Rising Disposable Incomes

One of the most influential factors in the growth of organized retailing is the increase in disposable incomes across urban and semi-urban areas. As consumers have more spending power, they are shifting from traditional unorganized formats to organized retail outlets that offer better shopping experiences, discounts, and branded goods. This transition is driving demand for large retail chains and malls.

Urbanization and Lifestyle Changes

The rapid pace of urbanization has altered consumer lifestyles, creating a need for convenient,

5. What are the key features or modules typically included in CRM software? 10

Ans 5.

Key Features or Modules Typically Included in CRM Software

Customer Data Management

One of the foundational features of any Customer Relationship Management (CRM) software is customer data management. This module stores all customer-related information such as name, contact details, purchase history, preferences, communication records, and feedback in a centralized database. Having easy access to accurate and up-to-date data allows businesses to personalize interactions, respond to customer inquiries efficiently, and maintain long-term

6. What are the advantages and disadvantages of going green in modern retail management.

Ans 6.

Advantages and Disadvantages of Going Green in Modern Retail Management

Advantages of Going Green

Enhanced Brand Image and Customer Loyalty

One of the major advantages of adopting green practices in retail is the positive impact on brand image. Modern consumers are increasingly environmentally conscious and prefer brands that show responsibility toward sustainability. Retailers that use eco-friendly packaging, energy-efficient lighting, and promote reusable bags often attract customers who are willing to support