Page 26 - DMGT552_VISUAL_MERCHANDISING

Unit 1: Introduction to Retail

Retail Revolution: It is the revolution in the shopping habits of the people across the entire Notes
world, which has virtually brought the super market to the main street.
Retailing: Retailing is the business activity of selling goods and services to the final consumer.

Shopping Malls: The biggest form of retail in India, malls offers customers a mix of all types of
products and services including entertainment and food under a single roof.
Specialty Stores: They are retail chains dealing in specific categories and provide deep variety
for example, Mumbai’s Crossword Book Store and RPG’s Music World.
Vending Machine: It is a relatively new entry, in the retail sector. Here beverages, snacks and
other small items can be bought via vending machine.

1.9 Review Questions

1. Define the term retailing and discuss the concept of retailing.
2. Identify key challenges of Indian retail industry.

3. Discuss various opportunities in Indian Retailing.
4. Describe the act of retailing. Why do you think retailing is important?
5. “Retailers provide a collection of service benefits to their customers.” Substantiate.
6. Discuss the functions of retailing with the help of suitable examples.
7. Explain how sorting by the retailer helps you as a customer.

8. “Retailing is not only an integral part of our economic structure but also shapes and is
shaped by, our way of life.” Discuss.
9. Discuss the pros and cons of a career in retail.

10. What are the jobs available in retail?
11. Explain the sudden surge in the global retail market.
12. Why do developing countries like Brazil and India constantly feature in the top of Global
Retail Development Index?
13. What are the different alternate ways through which manufacturer can provide after sale
service?

14. Discuss different trends in retailing from past to present.
15. What are the key challenges and opportunities in Indian retailing?

Answers: Self Assessment

1. Wide 2. Target market
3. Tangible 4. Personal

5. True 6. True
7. False 8. True
9. Father and son 10. Government
11. 50 12. Haats, melas

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