Question

TOPIC :Managing Marketing channels

OBJECTIVES To gain knowledge of Retailing and Promotion Mix and how to implement the right decision of Communication in the market

ASSIGNMENT DIRECTION & REQUIREMENT/S (Identify the ILOs to be assessed at the end of each requirement. Include the rubric or marking scheme for each item/requirement.) :

Q1/What is Retailing? Explain the Characteristics of Retailing.?

Q2/ Discuss any 3Major Types of Corporate Retail Organizations.?

Q3/Explain briefly the steps in Strategic retail planning process.?

Q4/ What are the difference between the elements of Communication Mix?

Answer 1

Answer 1 - Retailing means the process by which goods and services of consumers are sold to customers through multiple channels of distribution in order to earn profits

Characteristics of Retailing

• It bring goods and services which is closer to consumers
• It is considered to be last link in channel distribution
• Retailers purchase goods in large quantities but sell in small units

Answer 2 - three major type of corporate retail organization

• Corporate chain stores - corporate chain stores have two or more type of retail stores who have same typw of ownership having same line of goods and services
• Voluntary chain - voluntary chain are the group retailers who are working for non contractual basis in order to achieve ecnomies of scale
• Franchize organisation - An organisation in which franchisor gives licence to franchisee in order to do business

Answer 3 - steps of strategic retail planning process -

• First they need to the define the mission of business
• An audit should be conducted which includes self analysis
• Strategic opportunities should be identified
• Strategic alternative should be evaluated
• Objectives should be established then resources should be allocated
• A strategy to implement the retail mix
• And lastly performance should be evaluated