Attempt all the questions.

(A) Short Answer Type Questions

1. What is meant by merchandising strategy? Discuss its different components. 

2. What do you mean by assortment planning? Discuss different steps involved in it. 

3. “Category management is a complex and dynamic process.” Elaborate. 

4. What is the importance of sales forecasting? Describe the methods of sales forecasting. 

5. Giving suitable examples explain break even pricing and mark up pricing. 

6. Distinguish between the following:

a) Psychological pricing and captive pricing.

b) Direct expenses and indirect expenses. 

7. Describe briefly important retail pricing strategies. 

(B) Essay Type Questions

8. What is the importance of vendor in retail? Explain the factors that should be taken into account while making vendor selection.

9. Explain the concept of brand. What are the characteristics of a brand?