Case Study Project Total Marks: 100

Elective – Retail Management

As a Retail Manager how will you achieve business by decision making
focused on price offer and demand pressure from customers, on
availability of the product? Examine the strategy you will adopt in a retail
chain business (Big Bazar).
I will implemny a process of promoting greater sales and customer satisfaction by
gaining a better understanding of the consumers of goods and services produced by a
company. A typical retail management strategy for a manufacturing business might
research the retail process that distributes the finished products created by the business to
consumers to determine and satisfy what buyers want and require.

Management refers to the process of bringing people together on a common platform and
make them work as a single unit to achieve the goals and objectives of an organization.
Management is required in all aspects of life and forms an integral part of all businesses.

Retail management is the various processes which help the customers to procure the
desired merchandise from the retail stores for their end use refer to retail management.
Retail management includes all the steps required to bring the customers into the store
and fulfill their buying needs.

1. ENTRY AND EXIT NO PROHIBITION:- I will allow customers to enter or leave the
market, there will be no prohibition.

2. CHANGE IN PRICE :- The price should be free to change in response to change in

demand and supply conditions. No one should try to control the price changes in the
market.

3. FREEDOM OF BUYING AND SELLING :- Another condition of perfect competition

is that there should be no restrictions on the purchasing and selling of the products.

4. ABSENCE OF TRANSPORT COSTS :- If the same price has to rule, it is necessary

that no cost of transport has to be incured. If the cost of transport is there, prices must
differ in different sections of the market.

5. ROLE OF DEMAND AND SUPPLY :- In a perfect market total demand and total
supply forces play very important role in the determination of price in the market.
 6. DETERMINATION OF PRICE :- The quantity demanded and supplied vary with the
price. When price rises demand falls but supply increases. At that price where demand
and supply both are equal to each other, that price will be determined in the market. We
can explain it by following table and diagram .
There was a controversy among earlier economists as to whether the supply of a good or
the demand for it goes to determine price of a commodity under perfect competition.
Some were of the opinion that it is the marginal utility on the side of demand…