Explain the steps involved in the development of a new product with the help of a suitable example

What is retail buying? Enumerate the factors affecting the buying decisions of a buying centre. 

What is meant by a merchandise plan? Explain the different factors that are considered while preparing it.

What do you mean by merchandising? Explain any three roles played by a retail merchandiser.

What do you mean by book inventory? Explain the retail method of inventory valuation with the help of an example.

Describe the present scenario of the organised retail sector in India. Explain schematically the process of buying and merchandising being followed by Shoppers Stop.

What do you mean by visual merchandising? How does one classify the categories for better presentation in the store? Briefly explain each category