brief of Business management, Exams of Project Management

Download brief of Business management and more Exams Project Management in PDF only on Docsity! 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-