IGNOU BRL 107 Buying and Merchandising-I | Guess Paper | Important Question Answer | Bachelor of Business Administration (Retailing) (BBARIL)(Paperback, BMA Publication)
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Introduction to Buying and Merchandising: Understand the roles and responsibilities of buyers and merchandisers in retail organizations. Learn about the buying and merchandising processes and their significance in retail operations.Market Research and Analysis: Explore techniques for conducting market research and analysis to identify consumer trends, preferences, and demand patterns. Learn how to analyze market data, competitor strategies, and industry trends to make informed buying decisions.Buying Strategies and Planning: Gain insights into buying strategies and planning processes in retailing. Learn how to develop buying plans, set merchandise assortments, establish buying budgets, and forecast sales and inventory levels.Vendor Selection and Management: Understand the process of vendor selection and management in retail buying. Learn how to evaluate vendor performance, negotiate terms and conditions, and build strong vendor relationships to ensure timely and cost-effective merchandise procurement.Assortment Planning: Explore assortment planning techniques for creating balanced and profitable product assortments. Learn how to analyze sales data, determine product categories and subcategories, and allocate space and inventory based on customer demand and preferences.Inventory Management: Gain knowledge of inventory management principles and techniques in retailing. Learn how to optimize inventory levels, minimize stockouts and excess inventory, and improve inventory turnover rates to maximize sales and profitability.Pricing and Markdown Strategies: Understand pricing and markdown strategies used in retail merchandising. Learn how to set initial prices, implement markdowns and promotions, and manage clearance sales to optimize profitability while minimizing inventory losses.Visual Merchandising and Store Presentation: Explore visual merchandising techniques for enhancing product presentation and maximizing sales opportunities. Learn how to design attractive product displays, create compelling store layouts, and use visual elements to engage customers and drive purchase decisions.