NMIMS

Global Access School for Continuing

Education
(NGA-SCE)
Merchandising Management
Q–1
Answer –
Introduction – The traditional garment for women across India is more or less
the saree, and it is worn by women in all age groups regardless of which state they
are from. Considering these factors, there is a tremendous demand for sarees in
India, and it is considered an evergreen business that is not affected by seasonal
changes in demand. An average woman in a middle-class household is likely to have
not less than 30 sarees in her possession, and with women being enthusiastic
shoppers, every festival or celebration is an excuse/reason to buy a new saree.

Concept & Application –

What is footfall – Footfall, called people strolling through, alludes to the quantity of
individuals who visit a retail location inside a particular period. It is a basic
measurement for retailers as it straightforwardly influences deals and generally
business achievement. In this blog entry, we will investigate the significance of
footfall, procedures to expand it, and how retail organizations track this vital
measurement.
Footfall is a critical sign of client commitment and the ubiquity of a retail location. It
addresses the quantity of individuals who genuinely enter and investigate the store
premises during a given time period. Estimating footfall assists retailers with
assessing the adequacy of their advertising endeavour’s, store design, and client
experience.
Importance of footfall -
1. Sale Generation - The more individuals visit your store, the higher the
possibilities making deals. Footfall straightforwardly influences the
transformation rate, as additional potential clients improve the probability of
exchanges and income.
2. Brand Openness - Expanded footfall implies more individuals are presented
to your image and items. This openness can prompt memorability, informal
exchange suggestions, and a bigger client base.
 3. Market Situating - Higher footfall can mean areas of strength for a position
and client interest. It gives retailers a benefit over contenders and improves
their standing as a famous shopping objective.
4. Information Bits of knowledge - Following footfall gives significant
information that assists retailers with settling on informed business choices.
Investigating footfall examples can recognize top hours, famous item
classifications, and region of the store that draw in the most consideration.
This data supports stock administration, staffing choices, and showcasing
systems.
5. Customer Experience - Footfall information can assist retailers with further
developing the client experience by recognizing trouble spots and creating
answers for address them. For instance, in the event that clients are
experiencing difficulty finding an item or confronting long queues at the sales
register, this data can be utilized to make a superior shopping experience.
How to increase footfall in store –
To increase footfall in a retail location, you can execute a few methodologies. Here
are a compelling ways of drawing in additional clients to your store.
To increment footfall in a retail location, you can carry out a few systems. Here are a
compelling ways of drawing in additional clients to your store:
1. Further develop store design - Guarantee your store is efficient, clean, and
outwardly engaging. Utilize appealing signage and presentations to catch
clients' eye and guide them through various areas of the store.
2. Upgrade control claim - Make your customer facing facade appealing and
welcoming. Utilize eye-getting window shows, very much kept up with
outsides, and legitimate lighting to make a positive initial feeling.
3. Offer limits and advancements - Run unique offers, limits, or special
missions to draw in clients. Consider utilizing strategies like get one-get-one
(BOGO) bargains, restricted time offers, or steadfastness projects to tempt
customers.
4. Have in-store occasions - Coordinate occasions, for example, item
dispatches, showings, studios, or live exhibitions to make a buzz around your
store. Team up with nearby powerhouses or specialists to draw in a bigger
crowd.
5. Draw in with the neighbourhood local area - Take part in neighbourhood
occasions, support local area programs, or team up with adjacent
organizations to reinforce your binds with the local area. This can assist with
expanding brand deceivability and draw in expected clients.
6. Use online entertainment - Influence virtual entertainment stages to
advance your store. Share connecting with content, in the background
glimpses, client tributes, and selective proposals to create interest and draw in
a more extensive crowd.
7. Team up with reciprocal organizations - Join forces with organizations that
offer correlative items or administrations to cross-advance one another. For
instance, in the event that you have a dress store, you can work together with
a close by shoe store for joint advancements or cross-references.
 8. Further develop client experience - Spotlight on giving uncommon client
assistance to guarantee a positive shopping experience. Train your staff to be
agreeable, proficient, and mindful of clients' requirements.
9. Execute compelling visual marketing - Orchestrate your items in an
engaging way, featuring key things or making topical showcases. Use lighting,
variety plans, and item arrangement methods to energize investigation and
increment client premium.
10. Screen and adjust - Monitor footfall and deals information to distinguish
patterns and examples. Change your procedures in light of client inclinations
and economic situations. Use client input to make enhancements and
proposition a more customized shopping experience.

Conclusion -
Increasing footfall in a retail location is critical for driving deals, extending brand
openness, and acquiring an upper hand. By utilizing procedures like further
developing store format, offering limits, facilitating in-store occasions, and drawing in
with the nearby local area, retailers can draw in additional clients. Following footfall
utilizing current advancements like individuals counters, Wi-Fi/portable following, and
video observation empowers retailers to acquire bits of knowledge, improve tasks,
and upgrade the general client experience. Keep in mind, steady endeavour’s,
transformation to client inclinations, and an emphasis on uncommon help are critical
to effectively expanding footfall and guaranteeing the drawn out progress of your
retail location.

Q–2
Answer –
Introduction –
Let us first understand the basics of business. A couple of things are critical and
should be borne at the top of the priority list while beginning any business. Above all
else, do your own exploration. For beginning a display shop business, you first need
to comprehend what scenes are! You ought to have an exhaustive comprehension of
its materials, famous casings, edges, moving plans, different focal points, their
business sectors, as well as focal point cutting machine and fitting machine for eye
glasses. The following essential perspective is to comprehend that for any business,
its area is vital. You may be the best tea producer on the planet, yet on the off
chance that you set up your coffeehouse outside a grade school, your business is ill-
fated to flop right at the beginning. This implies, that your shop should be situated in
a spot or region that sees successive exhibition purchasers. We should talk about
this later. The third key thing to know is that persistence is vital. You can not
anticipate starting rounding up gobs of cash very quickly subsequent to beginning
your business. It requires investment, boldness, and cautious intending to maintain a
supportable effective business.
Concept & Application -
Optical deals business development depends on quality client administrations.
Eyewear is a remarkable part of a singular's life. Eyewear improves visual perception
and is a style explanation for some. The business is changing at a speedy speed.
Opticians need to fabricate certainty to cash on these client patterns to increment
deals.
Client maintenance relies upon optical stock administration. A brought together
conveyance framework further develops correspondence. Optical retail shops make
an extraordinary client experience. They likewise believe that the clients should
return over and over. Besides, organizations need to construct a brand to work on
their customer base. Along these lines, they can prevail upon the opposition to drive
deals. Brand dedication is the focal part of working on optical deals.
As per Statista, the worldwide eyewear market was assessed to be worth around
140 billion U.S. dollars in 2020. It is determined to arrive at 197.2 billion U.S. dollars
by 2027. The strategic advantage is improved by showing the administrations.
Business the executives arrangements incorporate with ERP applications. A
coordinated arrangement can oversee optical deals. Optical proprietors likewise
track refreshes about business development. Furthermore, such arrangements have
An optical dashboard. It plans optical reports and oversees stock. The reports permit
us to plan the deals development. Optical deals additionally rely upon
socioeconomics.
1. Eyeglasses - Stock a wide assortment of eyeglasses outlines in various
styles, materials, and sizes to take care of various preferences and
requirements. Consider offering both marked and non-marked choices to take
special care of various sticker costs.
2. Shades - Incorporate a scope of shades with various focal point types
(captivated, UV security, and so on) and styles (pilot, traveller, feline eye, and
so forth.). Offer a blend of creator and reasonable choices to take care of
various financial plans.
3. Contact focal points - Offer a choice of contact focal points in different kinds
(everyday, month to month, shaded, and so on) and remedy qualities. Give
choices to various brands and cost ranges.
4. Embellishments - Stock extras, for example, eyeglass cases, cleaning
arrangements, focal point wipes, and fix packs. These things can be upsold to
clients and improve their general shopping experience.
In terms of promotions, consider the following strategies
1. Limits and offers - Run intermittent advancements, for example, get one-get
sans one, limits on unambiguous brands or styles, or group bargains (e.g.,
eyeglasses + shades). These advancements can draw in clients and urge
them to make a buy.
2. Client devotion program - Execute a steadfastness program where clients
procure focuses for each buy, which can be recovered for limits or free extras.
This supports rehash business and assembles client unwaveringness.
 3. Reference program - Offer motivations for clients who allude companions or
relatives to the shop. This can be as limits, store credits, or free extras.
Informal references can be a strong showcasing instrument.
4. Occasional advancements - Adjust advancements to occasional patterns or
occasions. For instance, offer limits on shades throughout the mid-year or
class kick-off advancements for understudies.
Concerning range as far as value, critical to offer choices take care of various
spending plans. Have a blend of reasonable, mid-reach, and very good quality items
to oblige clients with differing monetary capacities. This guarantees that there is
something for everybody and expands the potential client base.
How to start spectacles business in India.
Spectacles Scenes allude to the eyeglasses embellished by individuals to address
their defective vision. "Displays" is really outdated and the cutting edge name for it is
"eyeglasses". Displays allude to the whole gathering of the edge and the controlled
glasses. Since, for the vast majority, specialists recommend steady utilization of
displays, hence, choice of the right casing and focal points turns out to be vital.
Putting on a casing can basically be compared to having a totally new look. It
changes the presence of your face, and in this way, exhibitions should be
painstakingly chosen in order to guarantee ideal similarity of the wear and the
casings.
With admittance to better medical services offices at reasonable expenses,
individuals are becoming mindful of the need to get their eyes consistently tried. In
the previous days, not a many individuals could manage the cost of displays, as the
focal points were produced using costly gems or even silica. Producing them used to
be a costly issue, and consequently, eye glasses were saved for the upper and
working classes as it were. Nonetheless, innovation has progressed to the degree
that focal points are made utilizing engineered materials and have become entirely
reasonable. Notwithstanding moderateness, even the edges are accessible in
various shapes, sizes, materials, orientation, and variety. With such an expansive
scope of decisions, each individual who has been recommended to utilize displays
generally invests a lot of energy, attempting to track down an ideal choice for
themselves.

Conclusion - The spectacle shop business is a worthwhile business in India. It

requires little preparation, great human taking care of limit, and discipline. For
beginning this business, one should practice a reasonable level of effort and
exploration a great deal. The business offers a decent net revenue on the off chance
that you are sufficiently venturesome. It means quite a bit to fabricate a brand for
yourself to become inseparable from the best eyewear around.
Amidst Covid-19, the optical business faces different functional difficulties. The
optical store might have disturbances in store openings attributable to the lockdown.
The optical store additionally faces issues connected with security and staffing.
Retailers need their groups to be coordinated and adaptable concerning serving
clients. Their essential objective should be to serve the patients in a protected
climate. Optical organizations might need to design contributions like free delivery.
Besides, a Tele-optometry arrangement including optometrists can help the relations
among patients and opticians. Teaching individuals on eye care additionally works
on optical deals. Generally speaking, optical stores should zero in on client driven
answers for improve by and large store deceivability and optical deals.

Q–3-A
Answer –
Aiwa is a notable shopper hardware brand that began in Japan. It entered the Indian
market during the 1990s and acquired prominence for its sound items.
Notwithstanding, because of different reasons, Aiwa confronted difficulties and
ultimately pulled out from the Indian market.
Lately, Aiwa has gotten back in the game in India with a Resend off procedure. Here
is a concise outline of how Aiwa began in India, how it re-sent off, and how it set its
valuing:
Initial Entry and Withdrawal - Aiwa at first entered India during the 1990s and
immediately acquired a critical piece of the pie in the sound gear fragment. The
brand was known for its quality and inventive items. Nonetheless, because of
different factors like expanded contest, changing shopper inclinations, and key
choices, Aiwa confronted hardships and in the end pulled out from the Indian market.
Resend off Strategy - To get back in the saddle, Aiwa embraced a Resend off
methodology in India. The brand zeroed in on utilizing areas of strength for its
acknowledgment and notoriety for quality. Aiwa meant to take advantage of the
developing interest for sound items in the Indian market.
Aiwa remerged India by banding together with a nearby merchant or laying out its
own auxiliary. This permitted the brand to have areas of strength for an organization
and arrive at a great many shoppers the nation over. Aiwa additionally put resources
into advertising and special exercises to make mindfulness and produce interest
among customers.
Pricing Strategy - Setting the right Pricing technique is urgent for any brand's
prosperity. Aiwa embraced a cutthroat estimating system to situate itself in the Indian
market. The brand expected to offer incentive for-cash items that took special care of
the requirements and inclinations of Indian purchasers.
Aiwa valued its items seriously, taking into account factors, for example, fabricating
costs, market interest, and rivalry. The brand zeroed in on giving reasonable yet
great sound items to draw in many customers. By offering serious valuing, Aiwa
planned to acquire piece of the pie and set up a good foundation for itself as a
confided in brand in the Indian market.
Overall, Aiwa's re-emergence into the Indian market included an essential
methodology, utilizing its image notoriety, laying out areas of strength for an
organization, and embracing a cutthroat evaluating technique. These endeavour’s
planned to situate Aiwa as a main player in the sound hardware portion in India.
Japanese buyer gadgets brand Aiwa has returned Indian market with its scope of
varying media items. The organization is good to go to begin selling Premium
Shrewd 4K Ultra Superior quality Drove televisions, Savvy Home Sound frameworks,
remote Earphones and individual sound items.
"This send-off is the most vital phase that way and will take care of the steadily
advancing assumptions for our interest group for straightforward and reasonable
innovation items. We intend to put roughly over RS 200 crore before long," said
Manmit Chaudhry, Overseeing Chief, and AIWA India.

Q–3-B
Answer – India is the world's fourth biggest retail market and the sixteenth
positioned country on the 2023 FDI Certainty File.
The retail business in India represents in excess of 10% of the nation's Gross
domestic product and utilizes around eight percent of the populace. Many unfamiliar
brands are dynamic in the Indian market, across the customer range.
Setting up in India - While setting up in India, unfamiliar organizations ought to pick
a substance structure that caters best to their need. The choice of the right
substance construction will assist the organization with securing itself as a solid
player in the Indian market and assist them with harvesting monetary benefits.
Choices for unfamiliar brands working in India incorporate laying out an Indian
auxiliary, shaping joint endeavours or having permitting plans with Indian
accomplices, or a blend of these designs. Unfamiliar brands can possess value
intrigues in Indian organizations under India's FDI strategy, which sets necessities
and authorizations for unfamiliar speculation. On the other hand, franchisors can
concede establishment privileges to nearby franchisees through authoritative
arrangements.
Franchise Model - Franchising is well-suited to India's ongoing development and
urbanization patterns, lining up with the expansion of shopping centers that act as
center points for establishments in well-off cities, level 2, and level 3 urban areas.
Organizations that can adjust their items to territorial inclinations and make new
market specialties have a once in a lifetime chance to take advantage of India's
flourishing purchaser interest and goals. India's establishment industry has been
encountering consistent development, with deep rooted brands extending their
presence and new establishment ideas arising. Projections show that the Indian
establishment industry will surpass INR 70 billion (US$845.09 million) by 2025. Right
now, the business utilizes over 1.5 million individuals and contributes almost four
percent to India's Gross domestic product.
Licensing agreements - A Licensing agreements is an agreement between two
gatherings, in particular the licensor and the licensee. It includes the licensor giving
the licensee the privileges to utilize their brand name, brand name, protected
innovation, or the capacity to deliver and sell products that are claimed by the
licensor. Through this arrangement, the licensee acquires the honor to use the
licensor's protected innovation.
FDI regulation in India - Before setting up, the unfamiliar partner should evaluate
India's guideline of unfamiliar direct speculation (FDI). Most areas are currently
changed, yet India intently investigates unfamiliar interests into the retail area.
For ventures made under the public authority endorsement course, unfamiliar
financial backers should acquire earlier leeway from the separate service or office.
Conversely, ventures made under the programmed course just require the financial
backer to illuminate the Hold Bank of India (RBI) after the speculation is made.