Question

4- what is retail communications and elements of a retail promotional plan?

5- what is the main responsibilities of a store manager on a day-to-day basis?

Answer 1

Q4) Retail operations involve direct interaction with customers who can select their products and make a purchase decision. Earlier, there used to be small retail stores viz. mom-and-pop stores run by individual owners or family-owned stores where customers used to request for the products and retailer picks them from the racks and used to give the products to customers post which the required amount is paid. With the influx of super market and hypermarket chains, customers now have the choice to browse through the products displayed in racks, choose or not choose to purchase them. While customers arrive at a retail store with certain products in their mind, the setting of the retail store leads to a lot of impulse buying leading to increase in sales revenues for the retailers.

Hence, communication is key to attract the consumers into buying products. The elements of a promotional plan for a retail store include -

1. Product availability in various sizes or quantities as per the requirements of customers.

2. Promotional offers like discounts, reward points, bundling packs etc.

3. Placing/displaying of the products on the racks to attract customer attention.

4. Interest generated in customers through the communication message.

5. Pricing of the product in comparison with other retailers.

Q5) The main responsibilities of a store manager on a day-to-day basis include -

1. Ensuring the replenishment and availability of the products in the store to avoid lost sales.

2. Enuring placement of the products in the right places to attract customer attention.

3. Managing the store staff which include operations and billing staff.

4. Managing promotional offers and discounts

5. Ensuring the store is well maintained viz. housekeeping etc.

6. Ensuring the billing is smooth by avoiding any software or hardware issues in scanning and billing.

7. Resolving any customer issues in the purchase or return of products.

8. Manage the finances of the store.