TERM PAPER OF RETAIL MANAGEMENT

ON

(RETAIL STORE BUSINESS PLAN IN

NAGALAND)

Submitted to Lovely Professional University

Submitted by: Supervisor:

RAHUL SHARMA MS. KULJEET KAUR

MINHAS
RQ1807 B49
LECTURAR
BBA (HONS) MBA
(LHSB)
10808401

DEPARTMENT OF MANAGEMENT

LOVELY PROFESSIONAL UNIVERSITY

PHAGWARA

(2010)
 DEMOGRAPHIC INFORMATION

PEOPLE
The population of Nagaland is entirely tribal. The Nagas belong to the Indo-
Mongoloid family. The fourteen major Naga tribes are the Angami, Ao, Chakhesang,
Chang, Khemungan, Konyak, Lotha, Phom, Pochury, Rengma, Sangtam, Sema,
Yimchunger and Zeliang. The Chakhesangs were earlier known as Eastern Angamis
and are a combination of the Chakri, Khezha and Sangtam sub-tribes. Now the
Chakhesang tribe is spilt further; Pochury's who were earlier a part of it now claim a
distinct entity. Each tribe has their own languages and cultural features. Literacy is
61.30 %. The population has shown a steady upward trend.The Naga's have
different stories about their origin. The Angamis, Semas, Rengams and the Lotha's
subscribe to the Kheza-Kenoma legend. It is said that the village had a large stone
slab having magical properties. Paddy spread on it to be dried doubled in quantity
by evening. The three sons of the couple who owned the stone used it by rotation.
One day there was a quarrel between the sons as to whose turn it was. The couple,
fearing bloodshed, set fire to the stone which as a result cracked. It is believed that
the spirit in the stone went to heaven and the stone lost its miraculous properties.
The three sons thereafter left Kheza-Kenoma, went in different directions and
became the forefathers of the Angami, Sema and the Lotha tribes. According to
another legend, to which the western Angamis subscribe, the first man evolved
from a lake called Themiakelku zie near Khonoma. The Rengmas believe that until
recently they and Lothas formed one tribe. The Aos and the Phoms trace their origin
to the Lungterok (six stones) on the Chongliemdi hill. Some people believe that
these Indo-Mongoloids are 'kiratas' frequently mentioned in the old Sanskrit
literature of whom 'Nagas' were a sub-tribe.
The hill tribes in the areas now known as Nagaland had no generic term applicable
to the whole race. The word 'Naga' was given to these hill tribes by the plains
people. This proved to be a great unifying force to the tribes now classified as Naga.
Nagas are of sub-medium height, the facial index is very low, the nasal index
corresponds to a medium nose, the hair is generally straight, the skin is brownish
yellow. The eyes significantly do not show Mongolian form.
It could broadly be said that they are straight forward people, honest, hardworking,
sturdy and with a high standard of integrity. They are lacking in humility and are
inclined to equate a kind and sympathetic approach with weakness. The Nagas have
a very strong sense of self respect and would not submit to anyone riding
roughshod over their sentiments. The Angamis are politically the most conscious
group. The Zeliang and Pochury tribes in Kohima district are comparatively simple
and unsophisticated. The Tuensang tribes are un-spoilt children of nature. A striking
characteristic of the Naga tribes is their hospitality and cheerfulness. To be greeted
with a smiling face while traveling on the roads is a common experience. A visitor to
Naga village is heartily received and entertained with a surfeit of rice-beer, which is
generally served by the lady of the house or her young daughter with a warmth
which is unforgettable.

FESTIVALS
The festivals are mostly related to agricultural operations. The important thing
about the Naga festivals is their corporate character. The community as a whole
participates in the celebrations. There is a definite program stretching over a
specified period in which all the village folk join.
• MOATSU
• SEKRENYI
• SANKARNI

ECONOMY of Nagaland
Agriculture
Nagaland has basically an agricultural economy. A great ambition of the villager is
to have a bumper harvest. One of the important motivation behind the practice of
head-hunting in the past, was the belief that it would ensure a good harvest.
A remarkable feature of economy, is that there are no absentee landlords and there
is no class of landless peasants. The village society is so organised that the basic
requirement of food, clothing and shelter are guaranteed to all the members. The
population as a whole, remain gainfully employed in productive activities and there
is no surplus labour. During the Kheti season, it becomes difficult to get hired labour
and if at all they are available, very high wages have to be paid. There is, however,
a system of providing communal labour by forming what are called 'field companies'
of men and women of the same age group. Every member of the company gets the
benefits of company's labour by turn.
The major source of revenue for the government until recently has been the house-
tax. Now it is supplemented by the sale proceeds of forest products and tax of
urban commodities.
In tribal area like Nagaland, the obstacles to economic development generally arise
out of the prevailing physical, social and economic conditions. The physical
condition relate to the hilly terrain, dense forests and difficult communications. The
social obstacles are the people's initial apathy to any kind of innovation, lack of
education and primitive methods of production. The economic difficulties are the
dearth of capital, absence of marketing centres, and similar other factors. To these
we may also add the political condition arising out of the subversive activities of
the underground Nagas. A planned effort in nevertheless being made to circumvent
these bottlenecks and develop the area. Preliminary investigation were carried out
by the National Council of Applied Economic Research, and this was followed by a
detailed examination of the techno-economic data.
In education and road building, the progress has been phenomenal. The urge for
education has today replaced the old craving for heads. A girl may refuse to marry
an uneducated man in the same manner as, in the earlier days, she refused to
accept a partner who had not taken a single head. In the field of education
Nagaland is not so developed. Even though there are educated people, they prefer
white-collar employment. They hesitate to take agriculture as occupation. Hence,
government has to take steps to find suitable employment opportunities for them.
There were hardly any motorable roads in the Naga hills (except the highway from
Dimapur to Morch in Manipur) till Independence. Now, the total road length is about
9,315 km. Dimapur is the only place where rail and air services are available. In
road-building, the efforts of the state government have been adequately
supplemented by the border roads task force. The roads cut by the border roads,
between Kohima and Meluri, Mokokchung and Tuensang and Akhegwo and Tuensang
are feats of engineering skill.There has been a substantial expansion of medical and
public health facilities. To overcome the shortage of doctors, the State Government
has been granting liberal stipends to students studying medicine.Water supply
schemes have also been undertaken so that the women folk do not have to walk
long distances for this basic necessity of life.
Forests being an important source of revenue, measures have been initiated to
develop them. Forests area is divided into three categories : Reserved forests,
Protected forests and Private forests. The percentage of forest area to the total land
area is about 33%. The forest department has established wild life sanctuaries,
zoological park, botanical garden, forest training schools and a seasoning and
treatment plant.

Electricity has now reached the interior villages from where darkness has been
displaced. Nagaland was the first state in the North-east to achieve 100% rural
electrification by 1988.
A department of geology and mining was set up. Extensive and intensive mineral
survey and investigation show an encouraging picture of the mineral potential of
the state. The important minerals include high-grade limestone, coal, copper,
chromium, slate, oil and natural gas etc.
Social welfare has not been neglected. Schemes for the care of the mentally and
physically handicapped are being implemented. A few vocational training centres
have been started.
 INDUSTRY
The age old industry of the state is cottage industry which plays a vital role in the
village's economy. Cottage industries which deserve emphasis are (1) weaving and
dyeing (2) work in cane (3) work in wood, blacksmithy, pottery and excavation of
salt, pulp and paper mill.
Spinning and weaving were the only significant industry in the Naga hills until
independence. The Aos, Rengmas and Lothas used to grow cotton sufficient, not
only for their own requirements but surplus even to be given to the neighbouring
tribes. In recent years, however, mill made yarn, by virtue of its easy availability
and cheapness is steadily substituting the thread, spun locally. In course of time,
indigenous spinning would probably become extinct unless the Nagas switched over
to modern techniques. Weaving, however, continues to be popular. All Naga girls are
expected to know weaving and they normally produce at home the necessary cloth
for the family. Among the modern girls, the art of weaving is not particularly
fashionable, though they know the working principles of it. The loom is a simple
tension loom. It is exclusively a woman's possession and a man may not touch it. In
fact, both spinning and weaving are the monopoly of women. In the head-hunting
days, a woman was not expected to weave while her husband was on a raid lest his
feet got entangled in jungle and he was killed by the enemy. Dyeing was also done
by women only. A man who violated this rule, it was said, would not have any luck in
hunting or fishing. Now a days chemical dyes are gradually replacing the indigenous
colours.
The state is trying to encourage small-scale and cottage industries. This will reduce
the pressure on land, ensure a larger employment potential and lead to a balanced
regional development. Weaving training-cum-production centres have been set up
at Mokokchung and Dimapur, a Cottage industries training-cum-production centre
has come up at Mon, and a cottage industries training centre at Aghunato.
Industries like soap-making, candle-making, bee-keeping are also being raised. A
significant landmark has been the setting up of an industrial Estate at Dimapur.
Three medium-level industries have been established by the government for the
development of Industrial Sector. The Nagaland sugar mill at Dimapur has an
installed capacity of 1,000 tonnes of cane per day. There is a pulp and paper mill at
Tuli and plywood Factory at Tizet. In 1986, a Khandsari mill was commissioned. In
1988, a mechanized bricks plant was commissioned at Dimapur. A TV Assembly unit
has also come up at Dimapur. These projects have provided employment
opportunities to a large number of youths.
Trade :-
Earlier there was very little trade, except some in beads and shells. Now, Nagaland
exports cotton, jute, timber, forest produce, chilies, and oil seeds and imports
groceries and food stuffs, drugs and medicines, textile goods, utensils, furniture etc.

State Museum
It is at Kohima. Visit: Monday to Saturday from 1000 to 1500. Closed on holidays.
There is a collection of anthropological exhibits of the different Naga tribes, status
pillars, a ceremonial drum, gateposts and jewellery. The basement has animals and
birds from the North Eastern hill states.
KOHIMA VILLAGE (BARA BASTI)
This village has a traditional Naga ceremonial gateway carved with motifs of guns,
warriors and symbols of prosperity at the entrance to the village. The traditional
Naga house built here had crossed 'horns' on the gables, carved heads to signify the
status of the family, a huge basket to hold the grain in front of the house.
The nearest airport and railhead are at Dimapur, Nagaland's gateway and
commercial centre.

RETAIL STORE PLAN IN NAGALAND

Executive Summary
The Discount Pharmacy's main goal is to provide prescription medications for our
customers at the lowest prices on the market. We will be able to sell prescriptions
at reduced prices by carefully maintaining efficiencies in our operations and by
targeting a specific segment of the market - those customers who pay for their
prescription medications themselves.
By focusing on this segment it gives us additional efficiencies - we avoid
disruptions in cash flow often associated with insurance payments and we can
eliminate unnecessary services for the type of knowledgeable, repeat
customer taking maintenance-type medication. The Discount Pharmacy will
operate from one store that will serve both mail order customers and those who
visit in person.
We will thrive by employing friendly and knowledgeable personnel, which, along
with our great prices, will drive the repeat business that we will rely upon. We only
expect that as the price of medication continues to skyrocket, The Discount
Pharmacy will appeal more and more to the customer's sense of value and
convenience.
Our advertising, mainly through ads in magazines targeted at the over-55
crowd, will be targeted at those who are looking to save money on a pricey but
necessary and regular expense.
The Discount Pharmacy will be led by Rahul Sharma, an BBA Honors with
experience in the pharmaceutical industry. Costs will be minimized by maintaining
only one pharmacist and filling the void with pharmaceutical techs. We expect to
reach profitability by our second year and will generate substantial sales by year
three.

Objectives
The objectives for the first three years include:
1. Exceed customer expectations with superior pricing
2. Increase the number of customers by more than 30% per year
3. Develop a business that survives off its own cash flow

Mission
The Discount Pharmacy's mission is to provide our customers with the best prices
for their prescription medications. Our convenience and services will exceed the
expectations of our customers.

Keys to Success
The keys to success are:
· Satisfy our customers so they will return again and again
 · Maintain low overhead and operating costs
· Provide better prices than all our competitors

Company Summary
The Discount Pharmacy is located in Dimapur in Nagaland , OR and offers
prescription medications at discount prices to our customers by mail order or at the
store front.
Company Ownership
The Discount Pharmacy is an Oregon limited liability corporation. The majority
stockholder is Rahul Sharma.
Start-up Summary
The Discount Pharmacy will incur the following start-up equipment costs:
 · Office equipment including chairs, file cabinets, and desks.
 · Front counter, storage bins, cash register.
 · Three computer terminals.
 · Main computer server with a laser printer, and back-up system.
 Software: Microsoft Office, QuickBooks Pro, drug interaction software,
Physician Desk Reference software detailing side effects and other
information pertinent to the customer.
 Assorted bottles, boxes, envelopes, etc. for dispensing and shipment.
 Scales for shipping.
 Telecom system.
 Storefront build-out.
 Start-up inventory.
 Rent, utilities, insurance.

Financial Plan
Start-up

Requirements
Start-up Expenses
Legal 10,000
Rent 20,000
Utilities 5,500
Telecom System 4,000
Insurance 4,500
Storefront Build-out 50,000
Expensed Equipment 55,000
Website development 20,000
Total Start-up Expenses 1,59,000

Start-up Assets
Cash Required 20,00,00
Start-up Inventory 80,000
Other Current Assets 0
Long-term Assets 1,10,000
Total Assets 3,50,000

Total Requirements 5,00,000

Start-up Funding

Start-up Expenses to Fund 40,000

Start-up Assets to Fund 4,00,000
Total Funding Required 5,00,000

Assets
Non-cash Assets from Start-up 30,500
Cash Requirements from Start-up 2,00,500
Additional Cash Raised 0
Cash Balance on Starting Date 140,000
Total Assets 3,71,000

Liabilities and Capital

Liabilities
Current Borrowing 0
Long-term Liabilities 0
Accounts Payable (Outstanding Bills) 0
Other Current Liabilities (interest-free) 0
Total Liabilities 0

Capital

Planned Investment
Seed Funding 1,50,000
Manjit 1,00,000
Friends and Family 50,000
Additional Investment Requirement 60,000
Total Planned Investment 5,00,000

Loss at Start-up (Start-up Expenses) (40,000)

Total Capital 3,71,000

Total Capital and Liabilities 3,71,000

Total Funding 5,00,000

The discount pharmacy's financial plan makes some critical assumptions that will
determine the potential for future success.

The Economy
This could not be a better time to start a business as the economy
reaches its lowest point of the business cycle and begins its trek back up.
Consumer spending is up. "The Commerce Department reported consumers
had increased their spending by 1% in July, the largest advance in nine
months."

Owner Experience
 A shorter learning curve will be brought to the business by Deirdre
and Shelly due to their extensive backgrounds and in-depth market
knowledge.

Managed Costs
A clear understanding of the need to manage costs and forecast future
needs so that the business is not "broad-sided" by the unexpected.

Wise Purchases

Finding the right product, at the right price will enable the
business to meet planned margins and maintain inventory at an attractive
level with a high turn rate.

Profit and loss account

The projected Profit and Loss for four years is detailed in the table and charts
following. Some assumptions and inclusions to be noted are:
• Accounting and Legal includes: CPA, attorney and payroll service costs.
• Insurance includes: Business property, liability and interruption and key
person life insurance. Health Insurance as an employee benefit will be
considered in Year Three and is reflected as such.
• Miscellaneous includes: Bank account fees, employment advertising,
software maintenance, Web hosting, annual Internet name registration,
software upgrades, annual search engine registration when applicable, off-
site data backup, and other.
• Merchant Fees assume 80% of total revenue is in credit card sales and are
calculated at 2.5%.
• Outbound Freight increases Year Two due to improved RTV procedures.
Additional increases in Year Three and four are expected due to the
development of the Web and the outbound shipping that will result from an
e-commerce business.
 • Rent assumes 3,500 square feet of retail space is charged at fixed per square
cost foot plus taxes, maintenance and insurance.
• Payroll taxes and workman's compensation were calculated at 12% of
payroll.
• A 3% inflation factor was applied to select operation expenses for
Years Two, Three and four.
• Marketing and advertising has been maintained for all four years at
approximately 4.5% to 6.5% of total revenue.
• Travel costs were increased by 20% in Years Two and Three and four based
on the assumption that the state of the airline and hotel industries will
recover from the current economic trends and react with increased rates and
as well, to allow for an additional employee to travel if needed.

Products
The Discount Pharmacy offers a wide range of prescription drugs to patients based
in Oregon or nationally. Both generics and name brands are offered.
In order for a customer to purchase medications mail order, they must first contact
The Discount Pharmacy over the phone. The customer then needs to either mail in
the prescription, fax it, or email it. Once it is received and payment arrangements
are complete, the medicines will be sent out to the customer via U.S.P.S. or U.P.S.
Local customers may stop by the storefront to pick up the medications.
The Discount Pharmacy will only service customers who self pay. The self-pay
customers will be attracted to The Discount Pharmacy because of its superior
prices.
The Discount Pharmacy will be able to survive on lower margins due to operating
efficiencies gained through national mail order operations and not accepting
insurance policy drug plans which hampers cash flow.
The Discount Pharmacy will also save money by not paying for customer's
unlimited access to a pharmacist. If a customer has a question regarding a drug, the
pharmaceutical technician will attempt to answer it. As a last resort the pharmacist
will provide the answer. Generally, the technician or the accompanying printed
literature will answer the question.
This model of saving costs by not providing unlimited access to the pharmacist
will be successful because the majority of customers will be customers who have
been taking said drug for a while, as opposed to a new prescription, and will not
require their hand to be held during the transaction. They are interested in The
Pharmacy as an inexpensive source for their medication.
With each order a printout will accompany the medications providing directions on
how to take the medications, other drugs that should be avoided concurrently, and
other useful information. The Discount Pharmacy will be using computer print outs
from industry software to reduce the cost of providing this information.

Marking plan

Market Analysis Summary

The Discount Pharmacy's target market consists of two different groups, local
customers or walk-ins, and mail order customers.
The Discount Pharmacy will employ two different strategies to reach these two
diverse market segments.
Market Segmentation
The Discount Pharmacy's customers can be broken down into two different groups,
mail order customers and walk-in customers:
Mail order customers
This group of customers orders their medication through the mail in an effort to
save money. Generally, the mail order customers are older in age, typically over
50. In general, elderly customers consume more medication relative to younger
people. The mail order customer will typically purchase maintenance medications -
prescriptions for an ongoing ailment that requires regular treatment. This group of
customers will also be more likely to purchase several months of medication at
once.

Walk-in customers
These groups of customers are also looking for the lowest prices for their
medication. However, they tend to purchase medications monthly at their local
pharmacy, often at a higher price. There is not a common demographic for this
group of people, other than living in the Portland metropolitan area. Some of these
customers will pay for the medications out of pocket and some will submit a claim
to their insurance company for reimbursement at a later date.

Target Market Segment Strategy

The Discount Pharmacy will seek to attract two different groups of customers and
will thus have two strategies to attract them.
We anticipate that by far our largest group of customers will be those who order
through the mail. These customers will be targeted through an advertising
campaign in magazines and newsletters that have an older audience who regularly
need medication and are aware in advance of their needs. For example, one of the
main advertising vehicles will be newspaper.
Walk-in customers will be targeted through advertisements in the local paper; Ads
will raise awareness for the “The Discount Pharmacy” and our “low prices”.

Competition and Buying Pattern

Competition takes many different forms in the pharmacy industry.

Chain pharmacies
These are state or national chains such as Rite-Aid. The advantage to these chains
is better prices through economies of scale, as well as personalized service. The
personalized service takes the form of the chain having a record of your medication
purchases as well as any allergies that you have disclosed to them.

Local pharmacies
These are the pharmacies where you typically know the pharmacist and they know
your medical history. This option is high in personalized service and convenience,
and high in price.

Mail order and Internet pharmacies

These are similar to The Discount Pharmacy.

Strategy and Implementation Summary The Discount Pharmacy will use their
website to develop visibility and disseminate information.

Competitive Edge

The Discount Pharmacy's competitive edge is superior pricing. To do that we must

maintain our position as the low cost provider by painstakingly ensuring that costs
are kept low through operating efficiencies.
We will be able to do that by eliminating some of the services traditionally offered
by pharmacies. For example, we will employ only one pharmacist and use
pharmaceutical technicians to fill the void. As long as a pharmacist is on site
during the hours of operation, we can use the pharmaceutical techs for all other
capacities where other pharmacies use pharmacists. Other efficiencies are created
by having only a small store front and conducting most of our business through
mail order.
Finally, The Discount Pharmacy is not designed to hold the patient's hand during
their purchase. We expect that the vast majority of our customers will already be
informed of how to take the medication, and any side effects or drug interactions
that should be avoided. We will simply provide each patient with a print out of all
the relevant information for consumption of the medication.
Marketing Strategy

The marketing strategy will be based on targeted advertisements, appealing to the

customer's sense of value. The marketing campaign's goal will to be increase
awareness of The Discount Pharmacy with their target market.

Sales Strategy

The sales strategy will be based on generating long-term relationships with

customers. To facilitate that, we will provide medications at superior prices,
have medicines in stock for both quick shipment and store front pick up, and
provide superior customer service. All sales agents will be trained to provide
friendly, knowledgeable customer service. By keeping to these simple, yet
effective, business practices, we expect that our customers will make The Discount
Pharmacy their exclusive source for medications. For some, medications are an
integral part of their lives, so establishing long-term relationships will ensure a
large, loyal customer base.

Sales Forecast

During the first month we will focus on setting up the store front and generating
both local and national visibility. Sales activity will begin in month two. Sales
during months three through five there will mainly consist of local business
through the store front. In month six we expect to see a jump in sales from mail
order. Sales will grow steadily from month six on.

BARRIERS TO ENTRY IN NEW MARKET

The two most important barriers to entry are:
• Capital requirements
• Government policy and regulations
There are plenty of other potential barriers that might scare new
entrants away:
• Proprietary products and knowledge
• Access to inputs and distribution
• Economies of scale and other cost advantages
• Switching costs and brand identity
Economies of scale
Economies of scale occur when the unit cost of a product declines as production
volume increases. When existing competitors in an industry have achieved
economies of scale, it acts as a barrier by forcing new entrants to either compete on
a large scale or accept a cost disadvantage in order to compete on a small scale.
There are also a number of other cost advantages held by existing competitors that
act as barriers to market entry when they cannot be duplicated by new entrants—
such as proprietary technology, favorable locations, government subsidies, good
access to raw materials, and experience and learning curves.

Product differentiation
In many markets and industries, established competitors have gained customer
loyalty and brand identification through their long-standing advertising and
customer service efforts. This creates a barrier to market entry by forcing new
entrants to spend time and money to differentiate their products in the marketplace
and overcome these loyalties.
Capital requirements
Another type of barrier to market entry occurs when new entrants are required to
invest large financial resources in order to compete in an industry. For example,
certain industries may require capital investments in inventories or production
facilities. Capital requirements form a particularly strong barrier when the capital
is required for risky investments like research and development.
Switching costs
A switching cost refers to a one-time cost that is incurred by a buyer as a result of
switching from one supplier's product to another's. Some examples of switching
costs include retraining employees, purchasing support equipment, enlisting
technical assistance, and redesigning products. High switching costs form an
effective entry barrier by forcing new entrants to provide potential customers with
incentives to adopt their products.
Access to channels of distribution
In many industries, established competitors control the logical channels of
distribution through long-standing relationships. In order to persuade distribution
channels to accept a new product, new entrants often must provide incentives in
the form of price discounts, promotions, and cooperative advertising. Such
expenditures act as a barrier by reducing the profitability of new entrants.
Government policy. Government policies can limit or prevent new competitors
from entering industries through licensing requirements, limits on access to raw
materials, pollution standards, product testing regulations, etc.

PROMOTIONAL STRATEGIES
For promotion of my retail store I will use various promotional strategies.these
strategies will as follows:-
• Hoardings
• Banners
• Pamphlets
• Radio announcements
• Television talk shows
• Newspaper ads
• Web Plan website will be used for the dissemination of information as well
as a mechanism for email communication. Initially there will be no ordering
through our website since we do not expect that method to be widely used
and trusted by our target customers. This is also will used as promotional
tool.

Development Requirements
The Discount Pharmacy will hire a recent college graduate with a major in
computer science to complete and maintain our simple website. This will keep
costs down.
Management Summary
I have experience working with a major drug manufacturer, Karambir singh as a
drug representative. He was able to see first hand the profitability associated with
the prescription drug industry, as well as the inefficiencies with which most
companies are plagued.
I am graduated with an BBA(HONS) from the LPU's innovative entrepreneurship
program. While there he was awarded an rs.1, 50,000 no interest loan through a
business plan competition. That seed money will be parlayed, along with some
other investments, into start up expenses for The Discount Pharmacy. I have
received an undergraduate degree in chemistry from the lovely professional
university.

Operational Plan

Management of opreration in Discount Pharmacy

1) Merchandise Management:-I have plan variety and assortments of my retail
store. This retail store will include all medicines and drugs. Discount Pharmacy
will give special treatment to all customers so that they can be satisfy with
services. As i already told you that this retail store is deal in pharmacy so it has
large variety and deep assortments of products. For managing merchandise we will
recognize customers needs and their expectations from us, according to that we
will design our assortments.
2) Managing customers: We will do market segmentation in which we will divide
our customers in different segments. Customers with similar taste, demand &
expectation come under a segment and according to our target customers we will
make our strategies. We will used different CRM tools for managing good relation
with customers, like; special offer,discount,greeting cards, free gifts,etc.
3) Managing employees: Employees are very important asset of a company. One
company's efficiency depends on its employees. So, if we want to become market
leader then we have to satisfy our employees. I will use reward system for
motivate, appreciated my staff. So that they perform well or turnover will
decreased.
4) Managing communication system and promotion:communication is very
important for every organization. I will use communication system efficiently so
that I can develop good relation with customers as well as employees. For
promotion of my retail store I will use various promotional tools like;
hoardings,banners,newspaper advertisements,radio announcements,television talk
shows.
5) Information system: I will develop information system in my store so that I
become aware about various happenings in market.

STORE DESIGN:
Design of my store will have following features:-
Get customers into the store (store image)
• a critical role in the store selection process

• Important criteria include cleanliness, labeled prices, accurate and pleasant

checkout clerks, and well-stocked shelves
• The store itself makes the most significant and last impression

Once they are inside the store, convert them into customers buying
merchandise (space productivity)
• The more merchandise customers are exposed to that is presented in an
orderly manner, the more they tend to buy

• I will focusing more attention on in-store marketing – marketing dollars

spent in the store, in the form of store design, merchandise presentation,
visual displays, and in-store promotions, should lead to greater sales and
profits (bottom line: it is easier to get a consumer in your store to buy more
merchandise than planned than to get a new consumer to come into your
store)

A design should
be consistent with image and strategy

• positively influence consumer behavior

• consider costs versus value
 • be flexible

• recognize the needs of the disabled – The Americans with Disabilities Act
Feature area
The areas within a store designed to get the customer’s attention which include:
End caps – displays located at the end of the aisles
Promotional aisle/area
Freestanding fixtures
Windows
Walls
Point-of-sale (POS) displays/areas
REFRENCES: -

Pharmacy Design Group - Pharmacy design groups - Mc Kinney, Texas.

Available on: - http://www.storeplanningonline.com/

The Pharmacy Design

Available on: -
http://www.pharmacydesigngroup.com/

About Nagaland
Available on: -
http://www.nagaland.nic.in/profile/history/about.htm

BOOKS &MAGAZINES :-
• Philip Kotler, Marketing Management, Pearson
Education, New Delhi
• SWAPNA PARDHAN, RETAIL MANAGEMENT.
• BUSSINESS WORLD, WHITE BOOK , MAGAZINE.