Retail Operations BBS_5_ROP Coursework Assignment

TASK : WORD DOCUMENT Portfolio of setting-up a retail outlet and running;
2,000 words. You are required to CREATE 5 entries to your WORD
DOCUMENT Portfolio, each entry should be 400 words, the word count
totalling to 2,000 words.
You are a new company in the scent market that sells unique Oud catering to
the male and female market. What would be your key considerations in setting
up the retail outlet and ensuring it is running smoothly for the next six months.
This can be a physical outlet, online or both. You are required to include the
outlined points below within your Portfolio entries;
1. Introduction to the new business, analysis of the scent market and the
different functions of retailing for example, stock, selling, storage, display
of items for sale, the layout and design of the store, transportation,
financing, advertising, sales promotion, customer services etc. (5 marks).
2. Provide an explanation of the different ways you can build your brand. In
this section, also outline the brand, logo and slogan of the new business
(10 marks).
3. Set suitable merchandise pricing to the product. For example, the gap
between merchandise price and selling price is the mark-up (5 marks).
4. Set a suitable location to the new business with justification of choice. For
example, will it be physical, online or both (5 marks).
5. Provide an analysis of the market scent (Perfume or Oud); identify the
competitors of the new business (5 marks).
6. Outline and evaluate the different ways of advertising and promoting the
new business (brand) to reach target customers (5 marks).
7. Explain the many ways advanced technology has supported businesses
in achieving success as well as outlining how the new business would use
technology to its advantage. For example, social media advertising,
checking and ordering of stock, online payments etc. (5 marks).
8. Evaluate the key drivers of effective financial management/sales
performance within a retailing outlet (5 marks).
9. Explain the importance of providing good customer service to customers
(5 marks).
Deliverables: A well-structured 400×5 (2,000 words in total) portfolio
submission. This must be written in your own words.

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