brief of Business management | Exams Project Management

Ans 1-

The suitable merchandising strategy for the store at BT market is Value creation and

Excitement generation because:

Value Creation Strategy

The store at BT market focusses primary middle and upper middle class therefore

creating value for customers help the store owners and producers sell their products

and services efficiently.

It helps in creating a win-win situation

The market also draws customers of all age groups looking for a variety of

merchandise so value creation strategy would help to significant value for the

customer and also generate margins upon the same.

Excitement Generating Strategy

This strategy is used to create buyer interest in a certain segment by conveying a

sense of urgency or potential. Offering trendy and creative merchandise or

advertisements is at the heart of most excitement-generating tactics.

As the market gives products at affordable and traditional yet trendy products to

consumers, it is important to create excitement amongst them in order to offer the

products at good price.

It helps the customers to get the desired benefits for latest things and excited and

engaged customers helps the business to generate more profits.

No, they should not follow the same strategy as for Delhi NCR because:

Delhi NCR already offers good collection of the formal and casual wear for both men

and women which is already creating value for the customers.

The contributions of the sales show the excitement of the customers and it also offers

the choicest national brands.

It is already offering the products at affordable price which is satisfying customers all

in all.

Ans 2-

Staple merchandise consists of products that retailers buy, view, and sell on a daily basis.

Bread, cheese, milk, salt, eggs, tissues, and other staple items can be included in a grocery

store. Similarly, the majority of the inventory in sporting goods stores and home

improvement stores is standard.

The explanation for the ease at which staple merchandise demand can be forecasted is

that these are products of daily/regular usage that are unaffected by season or other

factors. The quantity expected for these goods can be easily predicted by a retailer.

Typically, retailers plan a "basic stock list" for this reason, which specifically

specifies inventory levels, quantity, colour, type, packaging, scent, and other factors.

Therefore, demand forecasting would be different here as compared to fashion merchandise

because Fashion merchandise is made up of products that are in high demand but have a short

shelf life. Demand estimation, as previously mentioned, becomes impossible in the absence

of any sales background for a single fashion store holding facility.

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Ans 1- The suitable merchandising strategy for the store at BT market is Value creation and Excitement generation because: Value Creation Strategy  The store at BT market focusses primary middle and upper middle class therefore creating value for customers help the store owners and producers sell their products and services efficiently.  It helps in creating a win-win situation  The market also draws customers of all age groups looking for a variety of merchandise so value creation strategy would help to significant value for the customer and also generate margins upon the same. Excitement Generating Strategy  This strategy is used to create buyer interest in a certain segment by conveying a sense of urgency or potential. Offering trendy and creative merchandise or advertisements is at the heart of most excitement-generating tactics.  As the market gives products at affordable and traditional yet trendy products to consumers, it is important to create excitement amongst them in order to offer the products at good price.  It helps the customers to get the desired benefits for latest things and excited and engaged customers helps the business to generate more profits. No, they should not follow the same strategy as for Delhi NCR because:  Delhi NCR already offers good collection of the formal and casual wear for both men and women which is already creating value for the customers.  The contributions of the sales show the excitement of the customers and it also offers the choicest national brands.  It is already offering the products at affordable price which is satisfying customers all in all. Ans 2- Staple merchandise consists of products that retailers buy, view, and sell on a daily basis. Bread, cheese, milk, salt, eggs, tissues, and other staple items can be included in a grocery store. Similarly, the majority of the inventory in sporting goods stores and home improvement stores is standard.  The explanation for the ease at which staple merchandise demand can be forecasted is that these are products of daily/regular usage that are unaffected by season or other factors. The quantity expected for these goods can be easily predicted by a retailer. Typically, retailers plan a "basic stock list" for this reason, which specifically specifies inventory levels, quantity, colour, type, packaging, scent, and other factors. Therefore, demand forecasting would be different here as compared to fashion merchandise because Fashion merchandise is made up of products that are in high demand but have a short shelf life. Demand estimation, as previously mentioned, becomes impossible in the absence of any sales background for a single fashion store holding facility.

 The explanation for this is that these products have cyclical sales and will quickly become obsolete when consumers' tastes and desires, as well as their likings and dislikes, shift. As a result, the market for such products is strong for a few seasons, then it becomes obsolete for a while before being fashionable again. Stapel Merchandise for men- sleepwear, socks, t shirts, pyjamas, daily use wear, undergarments, etc Women- daily use kurtis, nightwear, undergarments, socks, scarfs, bands, etc Assortment plan- Price - Formal shirts- 700 Casual shirts- 1000 Semi Formal- 1100 Party wear- 1300 Color - Formal- White, blue, light pink, Casual- Red black, white, yellow, blue Semi formal- blue, pink white Party wear- navy blue, purple, orange Details Formal- full sleeves, slim fit Casual- half sleeves, fluu sleeves Semi casual- half sleeves, full sleeves, boy fit Party wear- bomber, full selves, slim fit, half sleeves Ans 3-

 The formal and other wear will be at back Ans 4- The Retail model that Mr. Neeraj could go for in Traditional Retail Model as Mr. Neeraj needs to go into food and grocery retail because his restaurant business has been halted due to Covid. He previously managed his restaurant and its diverse supply chain, as he has several contacts with vendors throughout the area. He used to buy vegetables, fruits and groceries on a daily basis. Therefore, the model structure is that he should do is use the same supply chain as he does for pack and chill since those wholesalers can conveniently provide him with all of the supplies and will provide him a discount if he buys in bulk. When it comes to the customer base, He will reach his already established client base, which would include all of his customers in the city and other place. He can provide discounts to both old and new customers on a first-come, first-serve basis, such as 50% off for the first few customers, which would draw customers to the market. He can even deliver to your house. He might run his business from the same location or a similar location where buyers would conveniently access the shop. He can maintain high quality fruits and vegetables, as well as other food items that are often used in homes, and he can devise an exciting packaging and labelling technique that can quickly attract the attention of consumers. I recommend that he continue his business in the same manner as before because he has a good customer base, and he needs to impress them even more by adding new products. Ans 5- Strategies that would help are:  Price: He should choose a price for the goods depending on the margin he would get, and the expense involved should not be taken into account. Profit maximization should be in line with the venture's goals as well as customer loyalty.  Promotion: It is important for increasing consumer focus. Since his other company is already founded, he will try to reach the existing customer base by informing them about the store through print media or online marketing. He has the ability to make some enticing deals on a first come, first served basis. Personal sale would also assist him in attracting a wide customer base.  Place: In order to reach a greater number of buyers, he can choose a location that is close to his previous company. This would encourage customers to come and try out the new shop, since they may not be interested in travelling further.  Product: Here, he must ensure that he has enough supplies to meet customer demand at the outset. Too much inventory can lead to needless markdowns, reducing profitability, while too few wanted items can lead to lost revenue opportunities.

 Presentation: In this case, a detailed trade review should be performed to determine if the demographic of that region is a good match for the company.  Personnel: Under this approach, all decisions on the method of sale to customers, the construction of a new store, the placement of goods in the store, the type of internal promotion that would be appropriate, and so on will be made. Ans 6- Different Supply Chain management strategies that can be used are: Digital Supply Chain to help cope up in COVID Healthy Relationship with suppliers for no miscommunication Fresh foods and other grocery supply chain should not be hampered Appropritae management of inventory should be efficient

brief of Business management, Exams of Project Management

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