Module Title with code: Store Project 03FRSP Date : 05/08/10 Prepared By:Simi

ASSESSMENT PLAN

PG FR – 2009–11 – Sem III

SCHEDULE DEFINITION MARKS WEIGHTAGE LINK TO LEARNING OUTCOME

(WEEK / DATE) OF
ASSESSMENT

• The nuances involved in

setting up of an
Assessment – I
PortFolio independent store
Development / 100
Commences : 5rd 30% • The intricacies associated
Business Plan Marks
Week with developing a
Ends : 8th proposal which is a
Week holistic solution to
opening a retail store and
technological
requirements
Assessment –II

• The elements involved in

presenting and defending
Commences : 10th End Term
100 his / her findings in a
Week Project 70%
Marks holistic & professional
Ends : 18th (Integrated) manner
Week

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Module Title with code: Store Project 03FRSP Date : 05/08/10 Prepared By:Simi

ASSESSMENT BRIEF

PG FR – 2009-11 – Sem III

1. Faculty : Shridhar / Bala / Sreeram / Simi

2. Duration : 4 hours/week for 10 Weeks

3. Aim of the Module
4. Module Assessment
: To draw upon the learning of the modules in the first two
semesters and integrate them in order to demonstrate ability
for
more intensive study in Semester Three.
: • Portfolio Development / Business Plan : 30%
• Integrated Project : 70%

5. Learning Outcomes
: After completing this module, the student should be able to
understand:
• The nuances involved in setting up an independent
store
• The intricacies associated with developing a proposal
which is a holistic solution to opening a retail store and
technological requirements
• The elements involved in presenting and defending his
/ her findings in a holistic & professional manner

Assessment I – Portfolio development / Business Plan –100 Marks –Weightage –

30%

Submission : 8th Week - 29th Sep, 2010

Aim of this assessment is to make the students understand the nuances in setting up of
an independent store. Students have to develop a business plan to open an
approximately 2000 Sq Ft virtual store. They can define their own market and product.

The plan should encompasse the below areas:

1. Market Analysis Report

a. Current Market scenario with Statistics.

b. Oppurtunities for the product chosen with market share.

2. Market Profile

a. STP

b. Justification on product market match

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Module Title with code: Store Project 03FRSP Date : 05/08/10 Prepared By:Simi

c. Identification of competitors

d. A mapping of different strategies followed in the market by the competitor.

e. An analytical report of where the competitor fits in and where the new store
fits in.

3. Retail Strategy

a. Product

b. Financial grab

c. Marketing

d. Pricing

e. Location

4. Store Profile

a. Format

b. Space

5. Site Analysis Report

a. Students should explain the factors that had influenced him/her to select that
site for the business.

b. The report should cover all anticipated challenges in the proposed site and
possible solutions.

c. The report has to be written in business perspective explaining the finacial

implications.

6. Financial Planning

a. Study Expenses

b. Initial Investment

c. CapEx and OpEx Budget

d. Startup and Operating Expenses

e. Income Statement

f. Cash Flow Projections

g. Sales Forecast

h. Balance Sheet

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Module Title with code: Store Project 03FRSP Date : 05/08/10 Prepared By:Simi

i. The plan should cover atleast first five years.

7. Marketing Plan

8. Assumptions:

a. The Business Plan should clearly list down the assumptions based on which
the plan was developed.

9. Research Methods:

a. A report on the research methods used in analysing the market.

10. Portfolio submission

11. Presentation to a panel

Assessment Criteria:

Students will be assessed on following parameters:

Depth of collection of market data.

Clarity in analysing the market.
Identification of right competition.
Strategic analysis of the competition.
Understanding and reasoning in laying out the store’s strategy.
Site Analysis with an appreciation of expected challenges.
Accuracy in Forecasting and Planning.
Methods used for forecasting.
Strategies adopted in mobilising the funds.
Clear marketing plan with a road map of expansion / growth for next five years.
Assumptions considered in making the business plan.
Presentation of the report .
Structured formatting of data.
Ability to defend the panel.

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Module Title with code: Store Project 03FRSP Date : 05/08/10 Prepared By:Simi

Grading Criteria :

Distinction – The work exhibits an indepth collection of market data and clear
70% and analysis of the Market. The competition is/are well identified and their
above
strategies are clearly analysed. The strategies for the new store are
clearly laid out with an evidence of understanding and good
reasoning. The site analysis report is clearly written with all the
challenges anticipated and financial justification. The work shows
excellent accuracy of forecast and planning. Factors that are
considered to estimate and forecast sales are appropriate. Innovative
Strategies adopted in mobilising the fund. Work exhibits excellent
reasoning in preparation of Income Statements and Balance Sheets.
The report is neatly presented with structured formats of data. An
Excellent Marketing Plan with clear road map of growth and expansion
for next five years. Appropriate assumptions are made for creating
the business plan. Able to defend the panel on the anticipated
challenges in the store project in terms of site selection, product
strategy , mobilisation of funds and Market oppurtunity.

First Class – The work exhibits good data collection and analysis of the market. The
60 to 69% competition is/are identified and their strategies are clearly analysed.
The strategies for the new store are laid out with an evidence of
understanding. The site analysis report is written with financial
justification. The work shows good accuracy of forecast and planning.
Factors that are considered to estimate and forecast sales are
acceptable. Able to list down strategies adopted in mobilising the
fund. Work exhibits good reasoning in preparation of Income
Statements and Balance Sheets. The report is neatly presented with
structured formats of data. A good marketing plan with clear road
map of growth and expansion for next five years. Acceptable
assumptions are made for creatiing the business plan. Able to answer
the panel on the anticipated challenges in the store project in terms of
site selection, product strategy , mobilisation of funds and Market
oppurtunity.

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Module Title with code: Store Project 03FRSP Date : 05/08/10 Prepared By:Simi

Second Class The work exhibits a fairly good data collection and analysis of the
– 50 to 59% market. The competition is/are identified but their strategies are not
clearly analysed. The strategies for the new store are laid out but lack
understanding. The site analysis report is written with financial
justification. The work shows a fairly good accuracy of forecast and
planning. Factors that are considered for estimate and forecast sales
are questionable and and confusing. Strategies listed for mobilising
the fund are not practical. Work exhibits a fairly good reasoning in
preparation of Income Statements and Balance Sheets. The report is
neatly presented but lack structured formats of data. A reasonable
marketing plan is presented, however, it lacks a clear road map of
growth and expansion for next five years. Acceptable assumptions
are made for creatiing the business plan. Not able to answer the panel
on the anticipated challenges in the store project in terms of site
selection, product strategy , mobilisation of funds and market
oppurtunity.

Fail - below No evidence of data collection and analysis of the market. The
50% competition is/are not clearly identified. The strategies for the new
store are laid out but not practical and is/are irrelevant. The site
analysis report is not justifying the financial implications of the
project. The work shows no accuracy of forecast and planning. Factors
that are considered for estimate and forecast sales are incorrect.
Unable to list down strategies for mobilising the fund. Work exhibits
incorrect Income Statements and Balance Sheets. Very poor
presentation of report and data. The marketing plan lacks clear
objectives. Unacceptable assumptions are made for creatiing the
business plan. Not able to answer the panel on the anticipated
challenges in the store project in terms of site selection, product
strategy , mobilisation of funds and Market oppurtunity.

Assessment II – Integrated Project – 100 Marks – 70% Weightage :

Commences On : 7th Week

Ends On : 18th Week

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Module Title with code: Store Project 03FRSP Date : 05/08/10 Prepared By:Simi

Aim of the Integrated Project is to make the student understand the application of their
learning from the key modules of previous semesters and the current semester.

In Semester III , Students are expected to develop a holistic understanding of Retail

Industry and it is vital for the them to know how to apply the concepts learnt in the
classroom. To facilitate the same, this integrated project is created where students will
have an oppurtunity to apply the learning outcomes of all core modules that they have
studied in Sem I , II and III.

The core activity of this assessment is to create a virtual store of space 2000 Sq Ft
applying the research done in the assessment # 1 of this module. The modules that are
integrated with the store project are:

• Retail Operations

• Retail Merchandising

• IT Applications

• Retail Branding

• Retail Financials

• Store Design

• VM

Explained below is the Modulewise expected list of aspects that the student has to cover
for their new store.

The Virtual Store :

The Store that the students set up in this project is a virtual store of 2000 Sq ft space.
The student has to develop the store based on a theme and should have an appropriate
product strategy that meets their customer segment. The organisation structure of the
store – both front end and back end should be explained. Financial projections for first
five years has to be enclosed.

Retail Operations:
For their Virtual Store the Students have to set Process mapping and controls for :
1. Store Opening
2. Store Closing Procedure
3. Staffing
4. Security Systems to control shrinkage
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Module Title with code: Store Project 03FRSP Date : 05/08/10 Prepared By:Simi

5. Cashiering and cash till management

6. Inwarding and Outwarding
7. Ware house and Distribution strategies
Also , Set key drivers of profitability for the business with a clear note of how it will be
analysed and in what frequency.

Retail Merchandising:
Students have to develop the below for their virtual store:

• Merchandise Hierarchy– Clear demarkation of department, subdepartment, class

& subclass wich helps effective merchandise management & enables the
perfoamance measure of each category

• Option Planning and Display Capacity at department level for the entire store.This
will need to be mapped from the plannogram and should have releavent
calculations to substantiate the final displasy capacity & number of options
arrived at. Excel Sheets are to used compulsarily.

• Pricing Strategy – With reference to the pricing strategy in the business plan and
the financial projections done for 5 years, the threshold margin requirement for
the store that would cover all the expenses and desired profit need to be arrived
at. This will have relevance to the income statement prepared in the business
plan

• 6 –months Merchandising Plan. Components to be planned are sales, stock, mark

downs, margins, purchase & OTB .Excel Sheets are to used compulsorily.

• Performance parameters – Stock turn, merchandise intensity, Sales per square

feet, GMROI & GMROF

• Replenishment system for the stocks

• Sourcing strategies with lead times for seasonal and reorder

IT Applications:
Students have to conceptualize, design and implement the right IT application that is
best suited to the format of store that they are creating.

The students are expected to conceptualize the best environment (IT) of operation that
is best suited to their respective format of store and to define all possible aspects of the
IT deployment.

The project will contain the following components:

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1. Identification of platform(s) that is/are best suited to the mode of operation of the
respective store(s).
2. Budgeting of IT expenditure and justification for the same.
3. Identification of best/optimum hardware that will be needed for the smooth
functioning of IT in the respective store(s) and also that which can be accommodated
within the budget allocated for IT.
4. Identification of best software solution (from pool of software trained on) and
justification for the same.
5. Designing of secure environment (network and internet security) to ensure
uninterrupted IT operations.
6. Finalization of attributes used for codification of inventory.
7. Generation of all necessary masters that are crucial to the business.
8. Definition of standard operating procedure best suited to the respective type of stores.
9. Definition of CTQ (critical to quality) in terms of MIS reports needed for analysis of
business.
10. Justification for definition of CTQs and generation of “information – action” pairs to
ensure maximum profitability of their respective businesses, i.e., generation of a list of
scenarios (that could be thrown by the MIS reports deemed critical) and corresponding
decisions that could be taken for each of these scenarios.

Retail Branding :
Students have to create innovative strategies for successful branding for their store to
establish an unique identity in the market. These strategies have to be explained in
detail covering the steps of branding alongwith budgets, timelines and media used. They
should also show how these strategies will differentiate from others in the market.
Students should identify the Brand Barriers also.

A report on Branding Strategies ( Not more than 3000 Words ) along with the Branding
Aids ( Graphics ) have to be submitted.

Store Design & Visual Merchandising :

Students have to design the above mentioned store using the MockShop Software. The
store has to be designed based on a theme. Students have to explain about the
inspiration of the theme. The Store has to be aesthetically sound and should have all the
below stated elements illustrated in it.

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Module Title with code: Store Project 03FRSP Date : 05/08/10 Prepared By:Simi

Graphics in retail environment -

Usage of graphics adhering to the theme should be shown with appropriate

placement with a reflective note of what type of graphics are used and reasoning of
why it is chosen.

Lighting & Signage -

The elements of Lighting and Signages has to be shown clearly in the design. These
have to be designed according to the theme of the store . The cost of these elements
have to be stated.

Fixtures –

Store should have appropriate fixtures. Justification on the appropriateness with

respect to theme, product , stocks and space is expected.

Floor plan, Ceiling & elevation , product placement strategy and planogram (for each
wall and fixture) have to be submitted with details and reflective notes of it.

Students have to develop visual merchandising guidelines for product display and
overall storeupkeep.

The submissions should include the below :

1. Mind mapping Page

2. Screen shots of the final 3D store covering the entire store minimum of 12
screenshots

3. Floor plan (birds eye view /isometric view of the store ) with fixture labelling

4. Ceiling plan (with labelling)

5. Elevation plan (fixture mapping and labelling)

6. Product placement strategy (reflective note not exceeding 100 words)

7. Plannogram (screen shots of the plannogram of all fixtures,

8. product/department labelling

9. Reflective note on the theme not exceeding 150 words

10. Generic Visual merchandising guideline sheet

11. The mock shop file can be submitted in CD Format

The Outline of the Store Project Report:

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Module Title with code: Store Project 03FRSP Date : 05/08/10 Prepared By:Simi

Chapter 1 : About the store – Theme and product

Chapter 2: Store Branding
Chapter 3: Product Strategy
Chapter 4: Store Design & VM
Chapter 5: Merchandising
Chapter 6: Store SOP
Chapter 7: Technology for the Store

Assessment Criteria:

The students will be assessed on the following parameters:

Relevance to the initial ground work

Depth of coverage of each and every aspects of the store

Attention to details

Logical flow of information

A justifiable rationale to support each step / Reasonable thinking

Neat and clear presentation

The Store Project Report must demonstrate a good standard of English grammar,
spelling and punctuation as well as a professional presentational style. The Harvard
system of referencing should be used in writing.

Grading Criteria :

Conceptualisati Applicatio Clarity in Project Report

on of the n of store Presentation Structur
project / Store Innovative operating – Clarity , e
in terms of strategies processes , Understandi
Branding , in the planning and ng and
Marketing , process merchandisi Neatness.
Legal and and ng systems
Support creativity along with
Systems in store projections
design and

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Module Title with code: Store Project 03FRSP Date : 05/08/10 Prepared By:Simi

and VM deliverables.

25% 25% 30% 10% 10%

Distinctio Shows ability to Shows high An Excellent Excellent Excellent
n – 70% deliver a level of framework of presentation –
and completely creativity Store with well consistent
structured and
above original concept and operating
facts and imaginati
expressed clearly innovation procedures figures. ve
in words with a in store with a clear Exhibits clear formattin
high level of design with understanding evidence of g
reflection on the a detailed of the effective throughou
inpiration. coverage of effectiveness learning about t. Ties
Excellent focus of various and impact on the hub. together
tightly as
the concept in all elements of the
one
aspects like design. performance complete
Branding, Clear of the system. document
Marketing, Legal understandi A detailed . Harvard
and Support ng and description of referencin
Systems. application merchandising g is
Excellent of VM systems with accurate
throughou
planning of the principles & approprite
t.
Technological Strategies controls Written in
requirements with an wherever an
along with pre understandi required in engaging
designed and ng on order to style and
flexible MIS commercial acieve the the
systems. viability. desired structure
of the
targets . A
work is
clear balanced,
indication of coherent
KPIs, and
measuring persuasiv
and control e and
methods. exhibits
clarity
and
direction.
First Shows ability to Shows A clear Good Very
Class – describe the reasonable framework of presentation clearly
60 to concept and creativity in Store with a sound and
cohesive
69% inspiration. store design operating profession
structiure
Application of with a procedures A ally
concepts detailed detailed presented
consistently in all coverage of description of .
aspects like various merchandising Reference
Branding, elements of systems. The s are
Marketing, Legal design. controls set to accurately
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Module Title with code: Store Project 03FRSP Date : 05/08/10 Prepared By:Simi

and Support Good achieve integrated

Systems. understandi desired and
Professional ng and targets are listed.
planning of the application not very Generally
Technological of VM effective. very
requirements principles & KPIs, readable
along with pre Strategies measuring with a
designed and with an and control sound and
flexible MIS understandi methods listed coherent
systems. ng on down. structure.
commercial
viability.
Second Able to discuss Able to A reasonable Inconsisitent The whole
Class – the concept of the design a set of Store organization document
50 to project / store but store with operating of the facts is legible
and Figures. but does
59% there is no all required procedures
not look
correlation with elements of written. A very
the inspiration. design. A fairly good polished
There is no fair description of and may
consistency in understandi merchandising include
application of the ng and systems. The some
concepts across application controls to confusion
with
various aspects of VM achieve
referencin
like Branding, principles & desired g
Marketing, Legal Strategies. targets are conventio
and Support There is no not in place. ns. Some
Systems. Able to understandi KPIs are thought to
plan the ng on listed organisati
Technological commercial .Measuring on
apparent
requirements But viability. and control
but use of
with a poorly methods for language
designed MIS KPI are not sometime
systems laid down s leads to
clearly. difficulties
in
understan
ding.
Fail - There is no clarity Not able to There is no Not able to Disorgani
below in the concept of design a clarity in Store present well. sed and
50% the store. Work store where Operating inconsiste
nt
shows no all Procedures
appearan
evidence of elements and ce and/or
application of are used . Merchandising poor or no
concept on the No Systems. consistent
required aspects. application Controls are referencin
Not able to plan of VM not set. KPIs g system.
the technological principles. are not Structure
and use of
requirements. There is no mentioned.
language
understandi obscures
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Module Title with code: Store Project 03FRSP Date : 05/08/10 Prepared By:Simi

ng of the
commercial meaning
ability. throughou
t

Bibli

http://tiruppur.tn.nic.in/areapop.html
http://www.scribd.com/doc/31719774/indian-kids-wear-market

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