IGNOU BRL 10 Buying and Merchandising Free Solved Assignment 2022-23

IGNOU BRL 10 Free Solved Assignment 2022-23, IGNOU BRL 10 Buying and Merchandising Free Solved Assignment 2022-23 If you are interested in pursuing a course in radio production and direction, IGNOU BRL 10 can be an excellent choice. In this article, we will take a closer look at what IGNOU BRL 10 is all about and what you can expect to learn from this course.

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IGNOU BRL 10 Free Solved Assignment 2022-23 is a course offered by the Indira Gandhi National Open University (IGNOU) under the School of Journalism and New Media Studies. As the name suggests, it is a course on “Production and Direction for Radio.” The course is designed to provide students with a comprehensive understanding of radio production and direction and covers various topics related to this field. IGNOU BRL 10 Free Solved Assignment 2022-23

IGNOU BRL 10 Free Solved Assignment 2022-23

(A) Short Type Questions

Q1. Giving a suitable example, explain the concept of the ‘Buying Behaviour Model’.

The buying behavior model is a theoretical framework used to understand how consumers make purchasing decisions. There are several versions of this model, but one of the most widely used is the AIDA model, which stands for Attention, Interest, Desire, and Action.

Let’s take the example of a consumer who is considering buying a new smartphone. The AIDA model can help us understand the steps this consumer might go through before making a purchase:

  • Attention: The consumer becomes aware of the need for a new smartphone, perhaps because their current phone is outdated or broken. They may see advertisements for new phones or hear about them from friends.
  • Interest: The consumer starts to research different smartphone options, reading reviews and comparing features. They may visit websites or go to stores to see the phones in person.
  • Desire: Based on their research, the consumer starts to develop a strong desire for a particular smartphone. They may imagine how much better their life would be with this phone, and may even start to feel a sense of urgency to make the purchase.
  • Action: Finally, the consumer takes action and buys the smartphone. This could involve placing an order online, going to a store to make the purchase in person, or taking other steps to complete the transaction.

In summary, the buying behavior model helps us understand the different stages that consumers go through when making purchasing decisions. By understanding this model, marketers can create targeted campaigns and strategies that are more likely to appeal to consumers at each stage of the process.

Q2. What is meant by contribution? How is it important in determining profitability?

In business, contribution refers to the amount of revenue that is left over after deducting variable costs. It is the portion of sales revenue that contributes to covering fixed costs and generating profit.

To calculate contribution, you subtract the variable costs associated with producing and selling a product or service from its sales revenue. Fixed costs, such as rent, salaries, and utilities, are not included in the calculation of contribution.

Contribution is important in determining profitability because it helps businesses understand how much of their revenue is going towards fixed costs and how much is left over to cover profits. By analyzing their contribution margins, businesses can identify areas where they can reduce costs, increase sales revenue, and improve profitability.

In short, contribution is a key metric in determining the profitability of a business because it provides insight into the amount of revenue that is contributing to covering fixed costs and generating profit.

Q3. Define different types of mark-ups and explain differences between them.

In the context of computer programming and web development, markup refers to the language used to define the structure and presentation of content on a webpage. Here are some common types of markup languages and their differences:

  • HTML (Hypertext Markup Language): HTML is the standard markup language used to create web pages. It provides the structure and content of a webpage by using a series of tags to define headings, paragraphs, images, links, and other elements. HTML is considered a markup language because it uses tags to mark up or identify the different parts of a webpage.
  • XML (Extensible Markup Language): XML is similar to HTML in that it uses tags to define the structure of content, but it is more flexible and can be used to create custom markup languages for specific applications. XML is often used to store and exchange data between different software systems.
  • Markdown: Markdown is a lightweight markup language that is designed for creating content that can be easily converted to HTML or other formats. It uses simple syntax to define headings, lists, and other formatting elements.
  • BBCode (Bulletin Board Code): BBCode is a markup language used to format messages on internet forums and message boards. It uses square brackets to define formatting tags, such as [b] for bold text or [url] for links.

The main differences between these types of markup languages are their purpose and syntax. HTML is used for creating web pages, while XML is used for data storage and exchange. Markdown and BBCode are both designed for formatting text, but they have different syntax and are used in different contexts. Ultimately, the choice of markup language will depend on the specific needs of the project or application.

Q4. What do you mean by targeted sales? Discuss relevant factors that affect it.

Targeted sales refer to the process of identifying and reaching out to specific customer segments or groups who are most likely to be interested in a particular product or service. The goal of targeted sales is to increase the effectiveness of sales efforts by focusing on customers who are most likely to convert into paying customers.

There are several factors that can affect targeted sales, including:

  • Customer demographics: One of the most important factors to consider when targeting sales is the demographic characteristics of your customers. Age, gender, income, education level, and location can all impact the buying decisions of consumers, and tailoring your sales efforts to these demographics can help you reach your target audience more effectively.
  • Buying behavior: Another important factor to consider is the buying behavior of your target customers. This includes factors such as purchase frequency, the types of products they buy, and their preferred purchasing channels. Understanding these behaviors can help you tailor your sales strategies to meet the specific needs and preferences of your target audience.
  • Competitor analysis: It’s also important to analyze your competitors and their sales strategies. This includes understanding their target audience and how they market their products or services. By analyzing your competition, you can identify gaps in the market and develop unique sales strategies that can help you stand out from the crowd.
  • Marketing channels: The channels you use to reach your target customers can also impact your targeted sales efforts. For example, if your target audience is primarily active on social media, you may want to focus your marketing efforts on platforms such as Facebook or Instagram. If your audience is more likely to respond to email marketing, you may want to invest in building an email list and creating targeted email campaigns.
  • Product differentiation: Finally, the uniqueness of your product or service can impact your targeted sales efforts. If you have a highly differentiated product, it may be easier to target a specific audience that values the unique features of your product. On the other hand, if your product is more commoditized, you may need to invest more in marketing and sales efforts to differentiate yourself from competitors and capture the attention of your target audience.

Q5. Describe briefly the current retail scenario in India. Which products command the top position in retail at present?

The retail scenario in India is diverse and constantly evolving. India’s retail industry is expected to grow at a CAGR of 10% to reach USD 1.75 trillion by 2026. India has both organized and unorganized retail sectors, with the latter dominating the market.

The organized retail sector in India is concentrated in major cities and is dominated by large retail chains, such as Reliance Retail, Future Group, and Tata Group. The unorganized retail sector, on the other hand, includes small shops, street vendors, and local markets.

In terms of products, the top categories in retail in India include food and grocery, apparel, consumer electronics, and home appliances. Within these categories, there are specific products that command the top position in retail. For example, in food and grocery, products such as packaged food, beverages, and fresh produce are popular. In apparel, the market is driven by casual wear, ethnic wear, and sportswear. In consumer electronics, mobile phones and laptops are popular, while in home appliances, refrigerators, washing machines, and air conditioners are in high demand.

Overall, the retail scenario in India is highly competitive, with both domestic and international players vying for a share of the market. The industry is expected to continue growing in the coming years, driven by factors such as rising incomes, urbanization, and the growth of e-commerce.

Q6. Explain the concept of brand potential index with a suitable example.

Brand Potential Index (BPI) is a metric that helps businesses measure the potential of their brand in a specific market. It evaluates the brand’s current standing in the market, its market share, customer perception, and other factors that contribute to its overall strength. BPI is usually expressed as a percentage and can be used to assess the brand’s potential for growth.

Let’s consider an example of a popular electronics brand, Apple. Apple’s BPI measures the brand’s potential for growth in the consumer electronics market. The company’s strong brand image, premium pricing strategy, and innovative product design have contributed to its high BPI score.

Apple’s BPI is high because of several factors, including:

  • Strong brand recognition: Apple has a very recognizable brand that is widely associated with high-quality products and innovative design.
  • Market share: Apple has a significant market share in the consumer electronics market, particularly in the premium segment.
  • Customer loyalty: Apple has a loyal customer base that is willing to pay a premium for its products.
  • Innovation: Apple is known for its innovative product design and development, which helps it stay ahead of competitors.
  • Marketing and advertising: Apple invests heavily in marketing and advertising to promote its brand and products.

By analyzing these factors, we can see that Apple has a high BPI score, indicating that the brand has strong potential for growth in the consumer electronics market. This metric can help Apple and other companies to assess their brand’s potential and develop strategies to enhance their brand’s strength and market position.

Q7. Describe important parameters used for assessing the performance of a
retail store.

Assessing the performance of a retail store involves considering various parameters to evaluate its effectiveness in achieving its objectives. Some important parameters used for assessing the performance of a retail store include:

  • Sales Revenue: This is the total amount of money generated by the retail store from sales of goods and services. It is the most crucial parameter for assessing the performance of a retail store since it reflects the store’s ability to attract and retain customers.
  • Gross Margin: This is the difference between the revenue earned from sales and the cost of goods sold (COGS). A high gross margin indicates that the store is pricing its products appropriately and is managing its inventory effectively.
  • Inventory Turnover: This measures how quickly the store sells its inventory and restocks its shelves. A high inventory turnover rate indicates that the store is managing its inventory efficiently, while a low rate suggests that the store is overstocked or may be selling products that are not popular with customers.
  • Customer Traffic: This measures the number of customers that visit the store within a specific time frame. A high customer traffic rate indicates that the store is attracting potential customers effectively and has a positive reputation in the community.
  • Conversion Rate: This measures the percentage of customers that make a purchase compared to the total number of customers who enter the store. A high conversion rate indicates that the store is effectively converting potential customers into paying customers.
  • Average Transaction Value (ATV): This measures the average amount of money spent by customers during each visit to the store. A high ATV indicates that the store is effectively promoting higher-priced products or services to customers.
  • Employee Productivity: This measures the efficiency of the store’s employees in performing their tasks. It includes metrics such as sales per employee, average time taken to serve a customer, and employee turnover rate.

By considering these parameters, a retail store can evaluate its overall performance and identify areas where it needs to improve to achieve its objectives.

(B) Essay Type Questions

Q8. What is meant by pricing? Explain different types of pricing commonly used in the retail business. Discuss different factors that affect pricing of merchandising in the retail business.

Q9. What do you mean by merchandising? Describe its key elements. Describe different roles of the merchandiser in the retail business.

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