image

Solution of Assignment Synopsis & Project Dissertation Report


PRODUCT DETAILS

Online-Typing-and-Filling

Title Name Amity Solved Assign BBA Retail Management for Indian Retail Scenario
University AMITY
Service Type Assignment
Course BBA-(Retail-Management)
Semister Semester-III Cource: BBA-(Retail-Management)
Short Name or Subject Code Indian Retail Scenario
Commerce line item Type Semester-III Cource: BBA-(Retail-Management)
Product Assignment of BBA-(Retail-Management) Semester-III (AMITY)

Solved Assignment


  Questions :-

                                                                                                                                         Indian Retail Scenario

Assignment A

1) Evaluate the reasons to prove that empowered consumers drive growth.

  1. How do you approach conversion optimisation a hot topic at the moment?
  2. List out the Factors Does Verify Return Authorization Use to Determine if a Retailer should accept a Consumer’s Return.
  3. How would your review the effectiveness of the mix of traffic to an Ecommerce site?
  4. How do I implement Electronic Data Interchange (EDI)?
  5. The requirement of making a barcode can vary. How small can I make a barcode?
  6. How do you deal with fact that retailers have different retail structures?
  7. Estimate the various methods to calculate your Grocery Retail Market Shares.

 

 

 

 

 

 

 

 

Assignment B

Case Detail

A completely new store format provides the consumer proposition strength to enable the company to profitably grow into new markets for the first time in over a decade.

Challenge

A leading grocery retailer was seeing growth stagnate or decline at most outlets. Growth from new-store openings was unlikely because of the company’s saturated network, and its core value proposition was not strong enough for it to profitably enter new geographies. The grocer was also facing pressure from aggressive new entrants, which threatened its market position.

Executives at the company asked McKinsey to help establish a clearer consumer value proposition to help restore performance.

Discovery

To explore potential options, the McKinsey team worked closely with the client on comprehensive research and insight generation. The work focused on three topics—craft, art, and science—drawn from McKinsey’s strategic brand-management approach:

Craft

Analysis of potential limiting factors, including the client’s real estate, in-house skills, overall cost structure, local competitive environment, and the specific strengths and weaknesses of the client’s key competitors

Art

Qualitative shopper research to grasp the grocer’s true brand image, including consumer focus groups, employee interviews, and shop-along sessions at both client and competitor outlets to observe shopper behaviour

Science

Cluster analysis to identify promising consumer target segments and shopping occasions, backed up by an economic evaluation of potential new formats, including capex needs, gross margins, and operating cost

Building on the opportunities this work uncovered, the team helped the client define new store formats with clear, targeted customer value propositions. The work included redesigning the grocer’s commercial offer and adapting relevant outlet features, such as store design, service levels, network configuration, and space allocation.

Impact

The client successfully piloted the new store concepts. The new formats, created by converting existing stores, showed sales increases of up to 20 to 40 percent. Thanks to the commitment of client executives, the organization quickly assumed ownership of the new concepts and their defining elements.

 

  1. What are the different problems faced by the grocery retailer?
  2. What are the three different goals faced by McKinsey team?
    1. How the team has helped the grocery retailer to face the competition from the competitors?

 

 

 

 

 

Assignment C

  1. The ______ aspect of a business-to- consumer website involves transactional e-commerce for products or services.

a)Sizzle

b) Save

c) Sell

d) Serve

 

  1. The ______ aspect of a business-to- consumer website involves entering a dialogue through permission marketing profiling or surveys.
  1. Serve
  2. Sizzle
  3. Sell
  4. Speak

 

  1. ______ needs to be increased and perceived risk decreased for consumers to develop positive beliefs in the organisation´s online reputation.
  1. Trust
  2. Conversion
  3. Permission
  4. Attrition

 

  1. What communications technique is mainly intended to achieve repeat sales for an online retailer?
  1. Provide information about store locations.
  2. provide financial and share information.
  3. E-mail newsletter.
  4. Sell products online.

 

  1. What goal of Internet retail is commonly known as investor relations?
  1. Sell products online.
  2. Provide information about store locations.
  3. provide financial and share information.
  4. E-mail newsletter.

 

  1. What term describes a retail format which did not prove effective online?
  1. Internet pure play.
  2. Online intermediary.
  3. Bricks and clicks retailer.
  4. Online shopping mall.

 

  1. What term describes a multichannel retailer typically with an online store? Traditional stores, and often makes use of direct mail catalogue selling?
  1. Online intermediary.
  2. Internet pure play.
  3. Bricks and clicks retailer
  4. Online shopping mall.

 

  1. Reinter mediation describes: solve by www.solvezone.in contact for more detail at - 8882309876
  1. The introduction of new intermediaries within the channel structure.
  2. The introduction of new manufacturers within the channel structure.
  3. The removal of intermediaries from the channel structure.
  4. Both the first and third answer above.

 

  1. For a transactional website, what measure describes the proportion of visitors that convert to sale?
  1. Repeat customer conversion.
  2. Average order value.
  3. Conversion rate.
  4. Shopping cart abandonment.

 

  1. The products such as " VHS tapes" are examples of
  1. Product classes
  2. Product forms
  3. Branding
  4. Product perception

 

  1. The customers in growth stage of life cycle of products are classified as
  1. Innovators
  2. Early adopters
  3. Middle majority customers
  4. Laggards

 

  1. The profits related to the new product in its introductory stage are:
  1. Negative
  2. Continuously rising
  3. Higher
  4. Declining

 

  1. In PLC stages, the stage in which sales and profits declines is called
  1. Decline stage
  2. Less improved stage
  3. Product maturity stage
  4. Non-innovative stage

 

  1.  In PLC stages, the stage in which the company’s investment costs mount is classified as:
  1. Testing stage
  2. Development stage
  3. Buying stage
  4. Merger stage

 

  1. The collection of activities used to sell products to directly to end user for non business use is classified as:
  1. Inter-modeling
  2. Distribution operation
  3. Wholesaling
  4. Retailing

 

  1. The use of in-store advertising to broaden brand equity and encourage favourable purchase decisions is classified as
  1. Exclusive marketing
  2. Shopper marketing
  3. Outbound marketing
  4. Inbound marketing

 

  1. Which of the following terms best fits the activity of marketing communications?
  1. Making products available.
  2. Convenience of location.
  3. High level of regulation.
  4. Communication between stakeholders.

 

  1. The marketing communications strategy of the marketing mix deals exclusively with:
  1. Personal selling and advertising.
  2. Advertising and public relations.
  3. Advertising, publicity, and pricing.
  4. Personal selling, advertising, sales promotion, and public relations.

 

  1. Organizations plan, design, implement, and evaluate their marketing communication activities. These activities involve the delivery of messages either to or with target audiences, through various communication tools and media. This is known as:
  1. Campaigns
  2. Advertising and public relations.
  3. Advertising, publicity, and pricing.
  4. Personal selling, advertising, sales promotion, and public relations.

 

  1. This is a hierarchy of effects or sequential model used to explain how advertising works:
  1. ADD
  2. AIDA
  3. PESTLE
  4. SWOT

 

  1. AIDA stands for awareness, ________, desire and _________.
  1. Interest; action
  2. Intensity; appeal
  3. Involvement; action
  4. Involvement; appeal

 

  1. Marketing communications is used to achieve one of two principal goals. The first concerns the development of brand values. What is the other goal?
  1.  Increasing sales.
  2. Informing about products.
  3. Changing the behaviour of target audiences.
  4. Channelling communication tools.

 

  1. This is the sharing of meaning created through the transmission of information:
  1. Communication
  2. Noise
  3. Transfer
  4. Understanding

 

  1. This is a series of economic transactions between parties, who have a long-term orientation towards, and are primarily motivated by, concern for each other:
  1. Partner exchanges.
  2. Collaborative exchanges.
  3. Co-operative transfer.
  4. Partner exchange.

 

  1. The role of marketing communications is to engage audiences and there are four main tasks that it can be used to complete. Which of the following is not part of the four main tasks?
  1. Differentiate
  2. Participate
  3. Reinforce
  4. Inform

 

  1. _____________is an important element in the communication process. It recognizes that successful communications are more likely to be achieved if the source and the receiver understand each other.
  1. The realm of understanding
  2. Personal selling
  3. Noise
  4. Feedback

 

  1. This is a part of the communication process where the sender selects a combination of appropriate words, pictures, symbols and music to represent a message to be transmitted:
  1. Encoding
  2. Decoding
  3. Transfer
  4. Feedback

 

  1. This is part of the communication process and refers to the responses offered by receivers:
  1. Encoding
  2. Decoding
  3. Transfer.
  4. Feedback

 

30._______________ is concerned with the development of knowledge that is specific to the parties involved and is referred to as learning together.

  1. Dialogue
  2. Personal influencer
  3. Feedback
  4. Message

 

  1. Building long-term relationships with customers is essential for any business. The application of technology to achieve CRM is a key element of e-business but what does CRM stand for?
  1. Customer relationship management Customer relationship management
  2. Customer retailing management
  3. Consumer relationship management
  4. Customer resource management

 

  1. There are different techniques to both initiate and build relationships with customers by using a combination of online and offline techniques. What is the customer life cycle though?
  1. Techniques to encourage customers to increase their involvement with an organisation
  2. An approach to building and sustaining long-term business with a customer
  3. The stages each customer will go through in a long-term relationship with a supplier
  4. The answers above are all correct

 

  1. The four marketing activities within the customer relationship management include customer selection, customer acquisition, customer retention, plus:
  1. Customer extension
  2. Customer re-sells
  3. Customer cross-sell
  4. Customer referrals

 

  1. Using digital communications technologies to maximise sales to existing customers and encourage continued usage on online services is known as:
  1. Mass customisation
  2. Customer-centric marketing
  3. Sense and respond communications
  4. Electronic customer relationship management

 

  1. Using the Internet for relationship marketing involves integrating the customer database with websites to make the relationship targeted and personalised. Through doing this there are many benefits to be gained but which of the below is not an advantage?
  1. Minimises breadth, depth and nature of relationship
  2. Lower costs
  3. Targeting more effectively
  4. Achieve mass customisation of the marketing messages

 

  1. Accepting that a customer has agreed to opt-in to receive further information, with customer profiling the minimum amount of online information that needs to be collected is an e-mail address. What is really required though to decide if the customer is a good potential target for further communications?
  1. Opt-out facilities to be removed
  2. Interruption marketing
  3. Permission marketing
  4. A qualified lead

 

  1. Companies that understand how customers use digital media in their purchase decision buying can develop integrated communications strategies to support their customers at each stage in the buying process. Customers have individual preferences in the ways they use the web depending upon why they need to use it and this web use is known as:
  1. Directed buyers
  2. Undirected information-seekers
  3. Searching behaviours
  4. Directed-information seekers

 

  1. E-commerce managers aim to deliver the most effective mix of communications to drive traffic to their e-commerce sites. The different techniques can be characterised as:
  1. Offline marketing communications
  2. Online marketing communications
  3. Digital media channels
  4. All of the above

 

39. A marketing campaign will not be successful if the costs of acquiring site visitors and customers are too high. The term used to describe the cost of acquiring a new customer is known as:

  1. Bounce rate
  2. Referrer cost
  3. Allowable cost per acquisition
  4. Cost per acquisition

 

  1. The use of online and offline promotion techniques to increase the audience of a site are known as a:
  1. Search engine marketing
  2. Quality score
  3. Traffic building campaign
  4. Traffic campaign
  Answers :-

                                                                                                                                         Indian Retail Scenario

Assignment A

1) Evaluate the reasons to prove that empowered consumers drive growth.

Ans: The empowered consumer is a consumer with accurate information and the confidence that comes from effective protection and solid rights. This enables the consumer to make real and meaningful choices in the market (based on informed and accurate comparison of market offerings). Clear articulation and signalling of consumer needs and preferences to businesses improves competition and drives competitive markets. Consumer behaviour provides an incentive for businesses to improve, and to offer even better deals to their customers.

Increasingly, however, consumers need (support) to be empowered to make the best choices because:

  1. a) Products and markets are becoming increasingly complex,
  2. b) An ageing population finds itself unfamiliar and challenged to keep pace with new products; and,
  3. c) Consumers receive increasing amounts of information which is difficult to process.

At the core of consumer empowerment is the idea that consumers should have the tools to secure the best outcomes for themselves. An empowered consumer should be confident, knowledgeable and feel protected, and therefore tends to make optimal decisions by understanding their own preferences, the choices available to them and their rights and the means of complaining and seeking redress if their rights are breached.

Contributes to economic growth by improving:

At the root of consumer empowerment and its ability to contribute to growth is the strengthened relationship between consumer and producer. The empowered consumer articulates preferences more clearly, allowing businesses to better understand the products required and better able to compete by differentiating themselves in the market. This leads to better offers, which results in increased consumer welfare because of better and cheaper products supplied more efficiently because of strengthened competition. At the extreme, this relationship between consumer and producer enables consumers to become co creators / co-producers – with the potential to bring forward innovation and new business models with subsequent possibilities for economic growth. ‘Presumption’ refers to the breaking down of the barriers between production and consumption, so that consumers can be directly and personally involved in the production of the goods they are purchasing More commonly (and in essence), consumers might be empowered through the enhanced ability to search (overcoming imperfect information) or the ability to act on choice (switching) which heightens competition between suppliers, acts as a spur to suppliers to seek new or more efficient ways of supplying customers and generally supports supply-side competition. This might include, for example, new forms of collective consumption and collaborative purchasing which utilise the combined power of consumers. Figure ES1 below provides a simplified representation of this dynamic between empowered consumers and businesses. It highlights the factors that are important for empowered consumers to incentivise businesses to compete in the market. The relationship between supply side responses and economic growth can only be inferred, however, in terms of how enhanced competition may drive structural economic change. Consumer empowerment now holds a strong position within European and UK policy – particularly overcoming market failure by establishing and supporting better functioning markets to support consumer welfare. It is a recent development of policy makers to recognise the additional economic benefits of better functioning markets achieved in terms of as drivers of innovation, competitiveness and, potentially, economic growth.

 

 

  1. How do you approach conversion optimisation a hot topic at the moment?

Ans: Conversion Optimisation" is interesting. A lot of the information out there around conversion rate optimisation has come from membership sites, information product sites and the like "who are all about driving traffic to a single page for the first time and "converting" those visits immediately into sales.

That gets muddy very quickly with E-commerce sites for 4 reasons:

  1. You have thousands of products rather than just 1 or 2.
  2. You have new visitors mixed in with old, loyal customers.
  3. You have any number of channels bringing traffic to the site.
  4. The journey through the site is often 10 or more pages, rather than a single landing page pushing straight to purchase.

That means immediately you have to break things down into chunks. Rather than saying "what´s the overall conversion rate of the site?" and then scratching your head wondering which lever to pull to make it move, you break it down into "micro-conversion goals". For example:

  • The purpose of my homepage is to get visitors to the category page.
  • The purpose of the category page is to get visitors to a product page.
  • The purpose of a product page is to get visitors to add to basket.
  • And so on...

So you might say "I´ve got 100,000 new visitors a month landing on the site on my search results pages. The purpose of the search results page is essentially to show the visitor a product they´re interested in and persuade them to click it for more information". From that point you ask "what can I change about my search results pages to make that more likely to happen?". And then you trial that change, measure to see the impact, and repeat if it works.

Though working to increase conversion is hugely important, there are a few caveats that don´t get mentioned much:

  1. Not all pages are made equal. Perhaps 20% of buyers will see a search results page, whereas 100% may see a product page, 100% a basket page, etc.
  2. Conversion rate is a really misleading KPI on its own. For example: If you increase sales to 200% and increase visits to 400%, your conversion rate has halved, but you may be very happy.
  3. It´s very important to segment your visitors when looking at conversion. For example - conversion is more important for new visitors than it is for older, loyal customers.
  1. List out the Factors Does Verify Return Authorization Use to Determine if a Retailer Should

 

 

  1. List out the Factors Does Verify Return Authorization Use to Determine if a Retailer should accept a Consumer’s Return.

Ans: This varies from retailer to retailer. The factors that Verify-2 may use for a given retailer include:

  • The frequency of returns
  • Return dollar amounts
  • Whether the return is receipted or non-receipted
  • Purchase history

 

Verify-2 does NOT use any of the following factors in authorizing returns:

  • Age
  • Gender
  • Race
  • Nationality
  • Physical characteristics
  • Marital status

Note that while a Return Activity Report shows all of a consumer’s return transactions at participating retailers, Verify-2 uses only the transactions for the retailer where a consumer is making a return to authorize the return. While rules vary from retailer to retailer, Verify is designed to identify fraudulent or abusive behaviour. Those behaviours are not typical of approximately 99 percent of consumers.


The approximate 1 percent of consumers who get denied exhibit return behaviours that mimic fraud or abuse or exhibit habits that are inconsistent with the retailer’s return policy.

Refused returns generally fall into two categories. First, returns that break that retailer’s basic return policy, such as a return without a receipt, a return after the allowed return period, a return on a non-returnable item, or multiple returns beyond the quantity of returns allowed by the retailer within a given period. Second, returns that make your overall return behaviour indicate return fraud or abuse.

The refusal of a return does not mean a consumer’s return is fraudulent or abusive, only that the return history is often associated with such behaviour.

 

 

 

  1. How would your review the effectiveness of the mix of traffic to an Ecommerce site?

Ans: In a big nutshell: I´d segment this by channel and, within each channel, segment further by new vs. existing customers, then further still if necessary by types of customers. The reason being, when you can do that, you can get a much better picture of ROI.

At that point, you can then find the balance between growing the channel (spending more money to acquire more customers) and keeping it efficient (making sure you make at least £1 back for every £1 you spend).

I think that puts you in a nice position too: If you decide you need to grow faster, you can use the excess money from very profitable channels to subsidise others that aren´t profitable. Or if you decide you need more margins, you can then change your ROI targets to say "I want £2 back for every £1 I spend".

When trialling new tactics, it´s useful to categorise them by things like:

  • Technical setup needed
  • Organisational setup needed
  • Likely potential scale
  • Return (vs. cost)
  • Risks

Trial the easiest, least risky, highest ROI potential tactics first. Trial them as small as you can, and then "if they work” scale them up as much as you can & measure ROI the whole way.

 

 

 

 

  1. How do I implement Electronic Data Interchange (EDI)?

Ans: Electronic data interchange (EDI) is the computer-to-computer exchange of business documents between companies. EDI replaces the faxing and mailing of paper documents.

EDI documents use specific computer record formats that are based on widely accepted standards. However, each company will use the flexibility allowed by the standards in a unique way that fits their business needs.

Used in a variety of industries, over 160,000 companies have made the switch to EDI to improve their efficiencies. Many of these companies require all of their partners to also use EDI.

Implement:

This section provides guidelines for the successful implementation of EDI in your organization. It addresses the steps required to begin submitting documents electronically, including the Trading Partner Agreement, security and quality control issues, testing, ongoing support resources and contacts, and a suggested implementation checklist and time schedule. It is important to remember that EDI changes the way in which you do business. It affects the support and operational mission of your organization. Consequently, management as well as technical issues should be addressed.

In general, the following instructions are provided for an EDI implementation:

  • Consider EDI as a delivery vehicle to populate IDIS, a business solution —not simply a technical issue;
  • Adhere to ANSI 3050 published standards;
  • Initiate pilot test;
  • Provide an audit trail of EDI activities; and
  • Integrate EDI with internal systems and business procedures.

The EDI process provides many benefits. Computer-to-computer exchange of information is much less expensive than handling paper documents. Studies have shown that manually processing a paper-based order can cost $70 or more while processing an EDI order costs less than one dollar.

  • Much less labour time is required
  • Fewer errors occur because computer systems process the documents rather than processing by hand
  • Business transactions flow faster.

Faster transactions support reduction in inventory levels, better use of warehouse space, fewer out-of-stock occurrences and lower freight costs through fewer emergency expedites.

Paper purchase orders can take up to 10 days from the time the buyer prepares the order to when the supplier ships it. EDI orders can take as little as one day.

One drawback is that companies must ensure that they have the resources in place to make an EDI program work; however, the need for buying and hiring these resources or outsourcing them may be offset by the increased efficiency that EDI provides

 

 

  1. The requirement of making a barcode can vary. How small can I make a barcode?

Ans: A barcode essentially is a way to encode information in a visual pattern that a machine can read. The combination of black and white bars (elements) represents different text characters which follows a set algorithm for that barcode type. If you change the sequence of elements you get different text. A barcode reads this pattern of black and white that is then turned into a line of text your computer can understand. A barcode can hold any type of text information you encode but with product labels the price in not usually encoded. The barcode will denote what product it is and your POS software or database will have pricing information associated to this. Depending on the specific barcode type, 1D barcodes can have from 20-25 characters while 2D codes go up to 2,000 characters. The main practical concern is that as you increase the amount of information in the barcode the bigger it will become. This is especially the case with 1D barcodes and in use most people encode 8-15 characters.

How small can I make a barcode?

Barcodes can come in a wide range of sizes and can get down to a 1/8th inch square when using a 2D code. However, there is a trade off since making such a small code will limit the amount of characters you use and will require a high resolution label printer to ensure the quality of the print is still readable by a scanner. The smaller a code becomes the more difficult it is to read.

 

 

 

  1. How do you deal with fact that retailers have different retail structures?

Ans: As with reporting periods, companies operating grocery stores have many different organisational structures. To provide insightful analysis, IGD has adopted a standardised approach to managing this variation:

  • The business entity that ´goes to market´, i.e. the ´sales generating unit´ is termed the "retailer".
  • A retailer could be an entire company, e.g. UK grocer Morrisons, or is could be one part of a far larger organisation, e.g. Rossmann is part of AS Watson, which is in turn part of Hutchinson Whampoa. Such larger entities, or ´parent companies´, are termed "groups".
  • Assigning retailers to groups is confused by the variety of potential ownership methods, often either accountancy-based (e.g. consolidation) or structural (e.g. franchising).
  • Regimentally utilising company ownership structures may be misleading when assessing the opportunity of individual retail accounts, and also creates inconsistency. IGD therefore assigns retailers to groups where the group has managerial control of the retailer. Some specifics:
  • Joint ventures – to avoid duplication, data is only assigned one partner
  • Franchised stores – data is usually assigned to the franchisor, rather than the franchisee, though this is flexed if appropriate. For franchisors, sales shown are net retail sales, rather that the revenue generated through wholesale sales to franchise partners
  • Mergers and acquisitions – to again avoid duplication, we assign the acquired business to their acquirer for full years of trading, on an estimated annualise basis.

 

 

 

 

  1. Estimate the various methods to calculate your Grocery Retail Market Shares.

Ans: IGD Grocery Market Shares are calculated by comparing the sales from a retailer’s stores that sell predominately food & groceries, with the IGD Grocery Retail Market size.

Our single, universal methodology to calculate retailer data enables you to make comparisons between retailers and across markets. We provide also consistent and comparable data e.g. currency conversions: retailer and country data is entered in local currencies and comes from one single source (www.oanda.com). Our forecast are regularly updated with complete transparency. As with all our research, data is developed from our primary research programme and unique relationships throughout the industry and builds on our analysts’ “on-the-ground” knowledge of these retailers and markets, and developed further through extensive desk research and modelling.

  • IGD defines the grocery retail market as all food, drink and non-food products (e.g. health & beauty, pet care, clothing, DIY) sold through all retail outlets selling predominantly food in a given country. This definition includes modern retail formats, such supermarkets and hypermarkets, and traditional retail formats such as open air markets and traditional food stores such as bakers. It excludes Cash & Carry operations; drugstores/pharmacies and sales tax.
  • For each retailer, the turnover used is total sales from grocery formats. To ensure that data sources are comparable we exclude the following:
  • VAT and sales tax
  • Sales from non-food formats (e.g. DIY, furniture, electrical stores, department stores etc)
  • Drugstores and pharmacies
  • Cash & Carry operations
  • Cash & Carry operations, where known, of players such as Carrefour and Rewet to use a pure grocery retail estimate of turnover.

 

 

 

 

 

 

 

Assignment B

Case Detail

A completely new store format provides the consumer proposition strength to enable the company to profitably grow into new markets for the first time in over a decade.

Challenge

A leading grocery retailer was seeing growth stagnate or decline at most outlets. Growth from new-store openings was unlikely because of the company’s saturated network, and its core value proposition was not strong enough for it to profitably enter new geographies. The grocer was also facing pressure from aggressive new entrants, which threatened its market position.

Executives at the company asked McKinsey to help establish a clearer consumer value proposition to help restore performance.

Discovery

To explore potential options, the McKinsey team worked closely with the client on comprehensive research and insight generation. The work focused on three topics—craft, art, and science—drawn from McKinsey’s strategic brand-management approach:

Craft

Analysis of potential limiting factors, including the client’s real estate, in-house skills, overall cost structure, local competitive environment, and the specific strengths and weaknesses of the client’s key competitors

Art

Qualitative shopper research to grasp the grocer’s true brand image, including consumer focus groups, employee interviews, and shop-along sessions at both client and competitor outlets to observe shopper behaviour

Science

Cluster analysis to identify promising consumer target segments and shopping occasions, backed up by an economic evaluation of potential new formats, including capex needs, gross margins, and operating cost

Building on the opportunities this work uncovered, the team helped the client define new store formats with clear, targeted customer value propositions. The work included redesigning the grocer’s commercial offer and adapting relevant outlet features, such as store design, service levels, network configuration, and space allocation.

Impact

The client successfully piloted the new store concepts. The new formats, created by converting existing stores, showed sales increases of up to 20 to 40 percent. Thanks to the commitment of client executives, the organization quickly assumed ownership of the new concepts and their defining elements.

 

 

 

  1. What are the different problems faced by the grocery retailer?

Ans: A completely new store format provides the consumer proposition strength to enable the company to profitably grow into new markets for the first time in over a decade.

Many different problems faced by grocery retailer are following:

  1. For starters, customer acquisition and retention is a problem that they face today. Decades ago it was much easier to gain customers if your product was good and desirable. But it is much difficult to attract and retain customers when you don’t have the budget for it.
  2. Second of all, the Internet is gaining rapid market share. This means if this transfer of business form store sales to the Internet continues to rise, traditional brick and mortar retailers have to look at their restructure their business and either go online or close their stores.
  3. Millennial customers have changed their shopping habits: most do research on the Internet before making a major purchase, and shop for today’s needs and wait until the last minute to shop for tomorrow’s events. Additionally, they are plugged into mobile and social shopping and are disrupting traditional shopping patterns.

 

 

 

  1. What are the three different goals faced by McKinsey team?

Ans : The three different goals faced by McKinsey team are following :

  • The McKinsey team worked closely with the client on comprehensive research and insight generation. The work focused on three topics—craft, art, and science—drawn from McKinsey’s strategic brand-management approach.
  • That´s the typical workflow for someone working on metric-driven product teams, and there are various metrics that such teams are responsible for. At the end of the day, we want to find and get the best-performing experience out quickly to the whole product, and we want to do so while maintaining the ability to develop efficiently going forward.
  • Hence, as McKinsey on product, we want to build systems that are general enough to support testing of many of these hypotheses efficiently. This includes frameworks for running A/B tests on any part of the product, tracking user engagement experiences, and capturing aggregate data that helps us build more intuition about user behaviour.

 

 

 

  1. How the team has helped the grocery retailer to face the competition from the competitors?

Ans: Successful marketers are those who can steer their organisations through the turbulent marketing environment, and do it better than competitors. Whilst easy to say, in practice it is not easy to do. Many competitive industries and organisations are very difficult to penetrate, despite all the intelligence techniques that may be available to get information. The Kenya flower industry, for example, whilst willing to give general information on their production and marketing, are very reluctant to give away their "trade" secrets. Other industries, like the diamond industry, are very exclusive in the sense that few companies dominate, the most famous being De Beers. Analysis of potential limiting factors, including the client’s real estate, in-house skills, overall cost structure, local competitive environment, and the specific strengths and weaknesses of the client’s key competitors . Qualitative shopper research to grasp the grocer’s true brand image, including consumer focus groups, employee interviews, and shop-along sessions at both client and competitor outlets to observe shopper behaviour .Competition in most global product/markets is intense. In the fertiliser industry for example, few companies dominate - including Norsk Hydro. Product type competition has become intense also, for example, Pannar and Cargil seeds, so has brand competition, for example Israel´s CARMEL and South Africa´s OUTSPAN. Substitute competition has also become an increasingly bitter battleground, with products being able to replace others as technology and tastes have changed.

Additional competition has arisen from grocery store, such as stop N shop and Shaw’s which now incorporate natural food sections in their conventional stores, placing them in direct competition with whole foods. Because lager grocery chains have more flexibility in their product offering, they are more likely to promote products through sales.

 

 

 

 

 

 

 

 

Assignment C

  1. The ______ aspect of a business-to- consumer website involves transactional e-commerce for products or services.

a)Sizzle

b) Save

c) Sell

d) Serve

 

  1. The ______ aspect of a business-to- consumer website involves entering a dialogue through permission marketing profiling or surveys.
  1. Serve
  2. Sizzle
  3. Sell
  4. Speak

 

  1. ______ needs to be increased and perceived risk decreased for consumers to develop positive beliefs in the organisation´s online reputation.
  1. Trust
  2. Conversion
  3. Permission
  4. Attrition

 

  1. What communications technique is mainly intended to achieve repeat sales for an online retailer?
  1. Provide information about store locations.
  2. provide financial and share information.
  3. E-mail newsletter.
  4. Sell products online.

 

  1. What goal of Internet retail is commonly known as investor relations?
  1. Sell products online.
  2. Provide information about store locations.
  3. provide financial and share information.
  4. E-mail newsletter.

 

  1. What term describes a retail format which did not prove effective online?
  1. Internet pure play.
  2. Online intermediary.
  3. Bricks and clicks retailer.
  4. Online shopping mall.

 

  1. What term describes a multichannel retailer typically with an online store? Traditional stores, and often makes use of direct mail catalogue selling?
  1. Online intermediary.
  2. Internet pure play.
  3. Bricks and clicks retailer
  4. Online shopping mall.

 

  1. Reinter mediation describes: solve by www.solvezone.in contact for more detail at - 8882309876
  1. The introduction of new intermediaries within the channel structure.
  2. The introduction of new manufacturers within the channel structure.
  3. The removal of intermediaries from the channel structure.
  4. Both the first and third answer above.

 

  1. For a transactional website, what measure describes the proportion of visitors that convert to sale?
  1. Repeat customer conversion.
  2. Average order value.
  3. Conversion rate.
  4. Shopping cart abandonment.

 

  1. The products such as " VHS tapes" are examples of
  1. Product classes
  2. Product forms
  3. Branding
  4. Product perception

 

  1. The customers in growth stage of life cycle of products are classified as
  1. Innovators
  2. Early adopters
  3. Middle majority customers
  4. Laggards

 

  1. The profits related to the new product in its introductory stage are:
  1. Negative
  2. Continuously rising
  3. Higher
  4. Declining

 

  1. In PLC stages, the stage in which sales and profits declines is called
  1. Decline stage
  2. Less improved stage
  3. Product maturity stage
  4. Non-innovative stage

 

  1.  In PLC stages, the stage in which the company’s investment costs mount is classified as:
  1. Testing stage
  2. Development stage
  3. Buying stage
  4. Merger stage

 

  1. The collection of activities used to sell products to directly to end user for non business use is classified as:
  1. Inter-modeling
  2. Distribution operation
  3. Wholesaling
  4. Retailing

 

  1. The use of in-store advertising to broaden brand equity and encourage favourable purchase decisions is classified as
  1. Exclusive marketing
  2. Shopper marketing
  3. Outbound marketing
  4. Inbound marketing

 

  1. Which of the following terms best fits the activity of marketing communications?
  1. Making products available.
  2. Convenience of location.
  3. High level of regulation.
  4. Communication between stakeholders.

 

  1. The marketing communications strategy of the marketing mix deals exclusively with:
  1. Personal selling and advertising.
  2. Advertising and public relations.
  3. Advertising, publicity, and pricing.
  4. Personal selling, advertising, sales promotion, and public relations.

 

  1. Organizations plan, design, implement, and evaluate their marketing communication activities. These activities involve the delivery of messages either to or with target audiences, through various communication tools and media. This is known as:
  1. Campaigns
  2. Advertising and public relations.
  3. Advertising, publicity, and pricing.
  4. Personal selling, advertising, sales promotion, and public relations.

 

  1. This is a hierarchy of effects or sequential model used to explain how advertising works:
  1. ADD
  2. AIDA
  3. PESTLE
  4. SWOT

 

  1. AIDA stands for awareness, ________, desire and _________.
  1. Interest; action
  2. Intensity; appeal
  3. Involvement; action
  4. Involvement; appeal

 

  1. Marketing communications is used to achieve one of two principal goals. The first concerns the development of brand values. What is the other goal?
  1.  Increasing sales.
  2. Informing about products.
  3. Changing the behaviour of target audiences.
  4. Channelling communication tools.

 

  1. This is the sharing of meaning created through the transmission of information:
  1. Communication
  2. Noise
  3. Transfer
  4. Understanding

 

  1. This is a series of economic transactions between parties, who have a long-term orientation towards, and are primarily motivated by, concern for each other:
  1. Partner exchanges.
  2. Collaborative exchanges.
  3. Co-operative transfer.
  4. Partner exchange.

 

  1. The role of marketing communications is to engage audiences and there are four main tasks that it can be used to complete. Which of the following is not part of the four main tasks?
  1. Differentiate
  2. Participate
  3. Reinforce
  4. Inform

 

  1. _____________is an important element in the communication process. It recognizes that successful communications are more likely to be achieved if the source and the receiver understand each other.
  1. The realm of understanding
  2. Personal selling
  3. Noise
  4. Feedback

 

  1. This is a part of the communication process where the sender selects a combination of appropriate words, pictures, symbols and music to represent a message to be transmitted:
  1. Encoding
  2. Decoding
  3. Transfer
  4. Feedback

 

  1. This is part of the communication process and refers to the responses offered by receivers:
  1. Encoding
  2. Decoding
  3. Transfer.
  4. Feedback

 

30._______________ is concerned with the development of knowledge that is specific to the parties involved and is referred to as learning together.

  1. Dialogue
  2. Personal influencer
  3. Feedback
  4. Message

 

  1. Building long-term relationships with customers is essential for any business. The application of technology to achieve CRM is a key element of e-business but what does CRM stand for?
  1. Customer relationship management Customer relationship management
  2. Customer retailing management
  3. Consumer relationship management
  4. Customer resource management

 

  1. There are different techniques to both initiate and build relationships with customers by using a combination of online and offline techniques. What is the customer life cycle though?
  1. Techniques to encourage customers to increase their involvement with an organisation
  2. An approach to building and sustaining long-term business with a customer
  3. The stages each customer will go through in a long-term relationship with a supplier
  4. The answers above are all correct

 

  1. The four marketing activities within the customer relationship management include customer selection, customer acquisition, customer retention, plus:
  1. Customer extension
  2. Customer re-sells
  3. Customer cross-sell
  4. Customer referrals

 

  1. Using digital communications technologies to maximise sales to existing customers and encourage continued usage on online services is known as:
  1. Mass customisation
  2. Customer-centric marketing
  3. Sense and respond communications
  4. Electronic customer relationship management

 

  1. Using the Internet for relationship marketing involves integrating the customer database with websites to make the relationship targeted and personalised. Through doing this there are many benefits to be gained but which of the below is not an advantage?
  1. Minimises breadth, depth and nature of relationship
  2. Lower costs
  3. Targeting more effectively
  4. Achieve mass customisation of the marketing messages

 

  1. Accepting that a customer has agreed to opt-in to receive further information, with customer profiling the minimum amount of online information that needs to be collected is an e-mail address. What is really required though to decide if the customer is a good potential target for further communications?
  1. Opt-out facilities to be removed
  2. Interruption marketing
  3. Permission marketing
  4. A qualified lead

 

  1. Companies that understand how customers use digital media in their purchase decision buying can develop integrated communications strategies to support their customers at each stage in the buying process. Customers have individual preferences in the ways they use the web depending upon why they need to use it and this web use is known as:
  1. Directed buyers
  2. Undirected information-seekers
  3. Searching behaviours
  4. Directed-information seekers

 

  1. E-commerce managers aim to deliver the most effective mix of communications to drive traffic to their e-commerce sites. The different techniques can be characterised as:
  1. Offline marketing communications
  2. Online marketing communications
  3. Digital media channels
  4. All of the above

 

39. A marketing campaign will not be successful if the costs of acquiring site visitors and customers are too high. The term used to describe the cost of acquiring a new customer is known as:

  1. Bounce rate
  2. Referrer cost
  3. Allowable cost per acquisition
  4. Cost per acquisition

 

  1. The use of online and offline promotion techniques to increase the audience of a site are known as a:
  1. Search engine marketing
  2. Quality score
  3. Traffic building campaign
  4. Traffic campaign

Review

Average user rating

4.8 / 5

Rating breakdown

5
80% Complete (danger)
1
4
80% Complete (danger)
1
3
80% Complete (danger)
0
2
80% Complete (danger)
0
1
80% Complete (danger)
0

January 29, 2015
This was nice in buy
Assignment from solve zone is probably one of the first preference of students.

October 09, 2016
This was nice in buy
I recommend a website that was really helpful throughout your session.

March 19, 2017
Some day ago
This was nice in buy
This was good in buy . I found all the answer correct and meaningful and had scored good marks
Back to top