RETAIL MANAGEMENT GET OUT AND DO IT!

Instructions: a. Select a retail store that you can visit easily and collect information about. Try to pick a retailer with a local store manager who can help you complete the semester assignments. b. To ensure that you can get information about the retailer for subsequent continuing assignments, the retailer should be (departmental store /supermarket /hypermarket /specialty stores) Assignment No.1 Select a retailer and prepare a report of that retailers history, including when it was founded and how it has evolved over time. Assignment No. 2 based on the chapter -Retail strategy Select one department store and one supermarket or one hypermarket and one supermarket and compare the strategy pursued by the two retailers-each retailers target market and general approach towards satisfying the needs of that target market. Assignment No. 3- based on the chapter-Site Location and selection For the retailer of your choice, answer the following: What is the trading area for the retailer? What is the primary, secondary and tertiary trading area? Is the store located in an area where the population is most appropriate, given its target market and product mix? Assignment No. 4- based on the chapter-Buying Merchandising 1.Go visit the retailer you selected for the continuing assignment and perform an audit of its national and private brands. Interview a manger to determine whether the percentage of private brands has increased or decreased over the past five years. Ask the managers to comment on the stores philosophy toward national

versus private brands. On the basis of what you see and hear, assess its banding strategy. 2. who is responsible for merchandise buying and what is his role and responsibilities Assignment No. 5- based on the chapter-Merchandise planning 1.Go to a retailers store and audit the variety and assortment for a specific merchandise category. Record the breadth and depth of the assortment and the backup inventory levels. Compare the variety an assortment for the same category in a competing retail store. 2. How is merchandise planning done in the retail store you have selected. Are they going for centralized merchandise plan? State the process in merchandise planning of that retail store. Assignment No. 6- based on the chapter-Merchandise pricing Go shopping at the retailer you have selected for the continuing assignment .Does the retailer use a high/low pricing or EDLP strategy? Ask the store manager how markdown decisions are made and how the store decides how much a markdown should be. What rule based approaches does it use to make markdowns? Does the retailer use the techniques for stimulating sales such a price lining, leader pricing and odd pricing? Are the processes on its websites the same as in the store? Assignment No. 7- based on the chapter-Retail Communication Evaluate the communication activities undertaken by the retailer you selected for the continuing assignment. List all of the specific elements and information in the retailers store and on its website that communicate the stores image and the merchandise it is offering t customers. What image does the retailer communicate through its stores atmosphere, sales associate, website and advertising? What are the associations it attempts to develop with its brand? Are the elements in its communication program consistent in terms of communicating the same image? Why or why not?

Assignment No. 8- based on the chapter-Store layout and visual merchandising Go into the physical store location of the retailer you have chosen for the continuing assignment and evaluate the store layout, design and visual merchandising techniques employed. Explain your answers to the following questions: 1. In general, are the store layout, design and visual merchandising techniques used consistent with the exterior of the store and location? 2. Is the stores ambience consistent with the merchandise presented and the customers expectations? 3. Does the store look like it needs to be redesigned? 4. To what extent is the stores layout, design and merchandising techniques flexible? 5. Notice the lighting. Does it do a good job highlighting merchandise, structuring space, capturing a mood and downplaying unwanted features? 6. How does the store utilize atmospheric elements like color, music or scent? Are these uses appropriate given the stores target markets? 7. Are the fixtures consistent with the merchandise and the overall ambience of the store? Are they flexible? 8. Evaluate the stores signage. Does it do an effective job of selling merchandise? 9. Has the retailer used any theatrical effects to held sell the merchandise? 10.Does the store make creative use of wall space/ 11.What type of layout does the store use? Is it appropriate for the type of store. Would another type of lay out be better? 12.Ask the store manger how the profitability of space is evaluated.(profit per sq feet) 13.Ask the store manager if planogram are used. If so, try to determine what factors are considered when putting together a planogram. 14.What methods has the retailer used to organize merchandise? Is this the best way? Suggest any appropriate changes.

Assignment No. 9- based on the chapter-Retail Information system and supply chain Interview a store manager for the retailer you have selected for the continuing assignment. Write a report that describes and evaluates the retailers information and supply chain systems. Some of the questions that can be asked areWhere is the stores distribution centre? Does the retailer use direct store delivery from vendors? How frequently are deliveries made to the store? Does the merchandise come in ready for sale? What is the stores percentage of stock outs? Does the retailer use a pull or push system? Does the store get involved in determining what merchandise is in the store and in what quantities? Does the retailer use VMI, EDI, CPFR or RFID?

Assignment-10 Loyalty programs Interview the store manager working for the retailer you have selected for the continuing assignment. Ask the manager if the store offers a frequent shopper program and how effective it is in terms of increasing the stores sales and profits. Find out why the manager has these views and what could be done to increase the effectiveness of the program. Then talk to some customers in the store. Ask them why they are members or not. Find out how membership in the program affects their shopping behavior and loyalty toward the retailer. Assignment-11 Store security Go to a store, observe the security measures in the store, and talk with a manager about the stores loss prevention program. a) Are there surveillance cameras? Where are they located?

b) What is the stores policy against shoplifters? c) What are the procedures for approaching a suspected shoplifter/ d) How are shoplifters handled? e) How are sales associates and executives involved in the security programs? f) Is employee theft prevented in the store? g) How is shrinkage prevented in the store? h) How is customer service related to loss prevention in the store? Assignment-12 1. What is the recruitment process in the retail store you have selected. What all training is provided to the employees? Discuss about the career growth in that organization. 2. How personnel selling are effective in that retail store?

Assignment-13 Prepare a report on the basis of the above assignments