Retail Branding & Crm

SECTION A

1. Discuss the challenges faced by branding manager

2. What is the value of a Brand for Customers

3. How Brand Personality is Built and Carry forwarded

4. What is Brand Revitalization

5. What are the components of Brand Personality

6. What do you understand by Brand Recall and its role in Consumer Behaviour

7. What is Promotional Mix

8. Discuss Value Chain Analysis

SECTION B

Case study

Walmart, the giant chain of discount stores, is the second-largest company in the world, with over $400 billion in revenue and 2.1 million associates (or employees). The phenomenal success story began in 1962 when Sam Walton opened up his first discount store in Rogers, Arkansas. He sold the same products as his competitors but kept prices lower by reducing his profit margin. His customers quickly caught on and the company took off almost immediately. Walton’s EDLP (Everyday Low Price) strategy remains the foundation of Walmart’s success today. Through the company’s economies of scale, Walmart is able to offer customers top brand-name products for the lowest price. Walmart expanded throughout the United States in the 1970s and 1980s by acquiring some of its competitors and opening new stores. The first Walmart Supercentre—a discount store with food outlets, an optical center, photo lab, hair salon, among other amenities—opened in 1988. By 1990, Walmart had become the nation’s number one retailer, with $32 billion in revenue and stores in 33 states. The company’s international expansion began with a store outside Mexico City in 1991 and has grown to over 3,800 international locations, some under a different brand name. Walmart thrives on three basic beliefs and values: “Respect for the Individual,” “Service to Our Customers,” and “Striving for Excellence.” Sam Walton’s original 10-foot rule—“I promise that whenever I come within 10 feet of a customer, I will look him in the eye, greet him, and ask if I can help him.”—still governs today, embodied by the “greeters” at the front door. In addition, Walmart embraces the communities in which it enters in order to develop strong local relationships and build its brand image in the area. The company donates significant amounts of money to local charities through its “Good Works” program, hires local individuals, and purchases food from local farmers. Walmart’s marketing strategy has evolved over the years. Early marketing efforts were based on word of mouth, positive PR, and aggressive store expansion. In 1992, Walmart introduced its well-known tagline, “Always Low Prices. Always,” which effectively communicated the company’s core brand promise and resonated with millions. In 1996, Walmart launched its price rollback campaign featuring the familiar yellow smiley face as the star of the campaign.

Q.No 1: Discuss about Sam Walton Rules

 
Q.No 2: What is the Competitive advantage with Walmart

 
Q.No 3: Discuss about Pricing at Wal Mart

SECTION C

1. Perception is a process that begins with consumer exposure and attention to marketing stimuli and ends with consumer _____.
 (A): interpretation
 (B): attitudes
 (C): acceptance
 (D): behavior

2. What allows a retailer to specify which products (goods and services) are purchased, when products are purchased, and how many products are purchased?
 (A): an assortment plan
 (B): financial merchandise management
 (C): dollar control
 (D): unit control

3. Which of the following is NOT a step in the information-processing model?
 (A): exposure
 (B): comparison
 (C): attention
 (D): interpretation

4. Merchandise available for sale equals:
 (A): beginning inventory + purchases + transportation charges
 (B): beginning inventory + purchases + markups
 (C): ending inventory + purchases + transportation charges
 (D): sales less cost of goods sold

5. Attention is determined by which factor?
 (A): the stimulus
 (B): the individual
 (C): the situation
 (D): a, b

6. The cost of merchandise available for sale minus the cost value of ending inventory equals:
 (A): the cost complement
 (B): maintained markup
 (C): the cost of goods sold
 (D): stock shortages

7. Which of the following do many businesses believe to be their most important resource:
 (A): Sales revenue
 (B): Equipment
 (C): Employees
 (D): Office supplies

8. The inventory system in which ending inventory - recorded at cost - is measured by counting merchandise still in stock at the close of a selling period is called:
 (A): the physical inventory system
 (B): the book inventory system
 (C): the retail inventory system
 (D): the profit-and-loss statement

9. Krisna received a birthday card from the dealership where she purchased her car. What was the
 (A): To verify orders
 (B): To arrange training
 (C): To build goodwill
 (D): To resolve problems

10. Which of the following methods of inventory valuation matches inventory value with a retailer's current cost structure?
 (A): the cost complement method
 (B): the weighted average cost method
 (C): the LIFO method
 (D): the FIFO method

11. An example of the use of product demonstration is
 (A): handing out sale brochures.
 (B): measuring the height of a customer.
 (C): presenting a feature-benefit chart.
 (D): preparing popcorn in a microwave oven.

12. The cost complement equals:
 (A): total cost valuation divided by total retail valuation
 (B): total retail valuation divided by total cost valuation
 (C): total retail sales multiplied by (100 - markup percent)
 (D): ending inventory - (beginning inventory + purchases) - sales

13. Before developing a product feature-benefit chart, a salesperson must first
 (A): explain the product's apparent benefits.
 (B): evaluate the competition's reactions.
 (C): obtain the necessary facts.
 (D): list the product's most important features.

14. Which of the following is not a disadvantage of cost-based inventory systems?
 (A): They require a retailer to assign costs to each item in stock.
 (B): They make it extremely difficult to calculate gross profit.
 (C): They do not provide for adjusting inventory values to reflect style changes, end-of-season markdowns, or sudden surges in demand.
 (D): The value they assign to ending inventory may not reflect its actual worth.

15. Businesses hope that individuals who are favorably impressed with the so that the business will receive __________ publicity. Business will tell others about it
 (A): specialty
 (B): word-of-mouth
 (C): sponsored
 (D): point-of-purchase

16. Which of the following is a characteristic of the retail method of accounting?
 (A): Few retailers utilize the retail method.
 (B): The retail method of accounting is ideal for bakeries and restaurants.
 (C): The retail method is easy to use when taking a physical inventory.
 (D): The retail method of accounting is easier to implement than the cost method.

17. When salespeople demonstrate the features and benefits of goods or services, they often are able to     Solve by www.solvezone.in contact for more details at 8882309876
 (A): provide jobs for more employees.
 (B): add usefulness to products.
 (C): develop new and improved products
 (D): create desire for products.

18. A major limitation of the retail method is:
 (A): the inability to calculate the cost complement without an ending inventory valuation
 (B): the inability to determine ending inventory value
 (C): the inability to determine ending retail values based on current market conditions
 (D): the heavy bookkeeping burden of recording data

19. If there is no suitable merchandise available to replace an item of merchandise sold from a display, the appearance of the display can easily be maintained by
 (A): putting up a new backdrop.
 (B): rearranging the display.
 (C): changing the fixtures.
 (D): changing the color scheme.

20. When deciding if the business should use a point-of-purchase display, a primary consideration is the
 (A): economic changes.
 (B): number of salespeople on hand.
 (C): competitors' activities.
 (D): type of merchandise to be sold.

21. What type of display sign might a store design for use near the main entrance to promote a storewide special event?
 (A): Counter card
 (B): Point-of-sale card
 (C): Sign topper
 (D): Full-sheet poster

22. The initial step in the merchandise forecasting and budgeting process is:
 (A): forecasting sales
 (B): inventory-level planning
 (C): profit-margin planning
 (D): designating control units

23. What do many businesses often use to promote products and increase awareness?
 (A): Public-relations activities
 (B): Marketing research
 (C): Cause-related advertising
 (D): Creative thinking

24. A men's shoe chain stocks shoes priced at $49 to $59 for budget-shoe shoppers, and shoes at $79 to $99 for moderate-priced shoppers. This retailer is employing:
 (A): a price-line classification
 (B): classification merchandising
 (C): a standard merchandise classification
 (D): a consumer lifestyle classification

25. Samples, premiums, and advertising specialties are examples of __________ used in sales promotion.
 (A): publicity strategies
 (B): communications channels
 (C): marketing activities
 (D): selling techniques

26. Which of the following is an example of direct advertising
 (A): A retailer conducts a telephone survey to determine its customers' satisfaction with its services.
 (B): A hotel chain develops an advertising campaign that includes television spots and billboards
 (C): A soft-drink company places an advertisement on television during a major sporting event
 (D): An apparel company mails its latest catalog to customers who have ordered items within a year.

27. The monthly sales index compares each month's sales to the average monthly sales:
 (A): in five preceding years less the inflation index
 (B): in five preceding years
 (C): for that retailer
 (D): for all retailers

28. Advertisements may be deemed unfair if they cause substantial injury to consumers. Regulators have determined that substantial injury ordinarily involves _____________ harm.
 (A): cognitive
 (B): emotional
 (C): monetary
 (D): behavioral

29. With which inventory-level planning technique does the retailer carry more items than it expects to sell over a specified period?
 (A): basic stock method
 (B): percentage variation method
 (C): stock-to-sales ratio method
 (D): weeks' supply method

30. Which of the following kinds of paid promotion is most likely to be used to promote the entire company:
 (A): Publicity
 (B): Sales promotion
 (C): Advertising
 (D): Personal selling

31. A retailer seeking to maintain a specified ratio of goods on hand to sales should utilize the:
 (A): basic stock method
 (B): basic stock method less safety stock
 (C): percentage variation method
 (D): stock-to-sales method

32. Why is it important for supermarket chains to determine the final cost of purchases from domestic and international sources?
 (A): To calculate gross profit
 (B): To set up a depreciation schedule
 (C): To monitor operating expenses
 (D): To apply for personal loans

33. Why is it important for a business to maintain an adequate stock level?
 (A): To handle expected sales
 (B): To sell the most trendy items
 (C): To fill available space
 (D): To organize new inventory

34. The difference between planned purchases and the purchase commitments already made by a buyer for a given time period equals:
 (A): stock shortages
 (B): the cost complement
 (C): cost of goods available for sale
 (D): open-to-buy

35. Co-branding works best when two brands are
 (A): in the same industry segment.
 (B): complementary and more or less equal in stature.
 (C): owned by the same parent company
 (D): fierce competitors.

36. Visual inspection systems:
 (A): are difficult to maintain
 (B): are expensive to implement
 (C): draw minimum stock quantities from in-depth analysis
 (D): do not provide information on the rate of sales of individual items

37. Which of the following is a reason for a business to offer a deep product mix:
 (A): To ensure similar methods of distribution
 (B): To specialize in a product line
 (C): To compete effectively
 (D): To control costs

38. Perpetual inventory systems:
 (A): cannot be maintained manually
 (B): can be maintained through point-of-sale devices
 (C): utilize only the Optical Character Recognition (OCR-A) technology
 (D): cannot be combined with physical inventory systems

39. Extra inventory that protects against out-of-stock conditions is called:
 (A): the reorder point
 (B): safety stock
 (C): service level quantities
 (D): order-processing quantities

40. Which of the following statements concerning gross margin return on investment (GMROI) is correct?
 (A): It is a poor indicator of a manager's performance.
 (B): It is difficult to plan and understand.
 (C): It shows how diverse retailers can prosper despite different gross margins and sales-to-stock ratios
 (D): It should not be used to make interdepartmental comparisons