RETAIL MANAGEMENT

Course Objectives

  • To familiarize students with retailing concepts, strategies, and problems
  • To enhance student’s capability to identify and analyze business environment and its opportunities and limitations, to set appropriate goals and to design the strategies to achieve those goals within the current situations
  • To be able to write the retail business plan to set up the new retail business
  • To improve students’ capacity to identify current marketing activities engaged by retailing organization and use of technology in retailing

UNIT I

Introduction - Definition - scope – Characteristics – Evolution – Functions – The retailing process - Managing a retail store / chain - Classification of retail formats - Private label brands or store brands - Retail industry in India - Principles – Retail Sales Goals – Retailing in India – Retailing across the Globe – Global Retailing Trends – Reasons for Retail Growth – Emerging Trends

UNIT II

Delivering value through retail formats: Store Based Retail Formats – Retail Sale by Ownership – On the Basis of Merchandise Offered (Food Based Retailer and General Merchandise Retailers). Non–Store Based (Traditional) Retail Mix and Non– Traditional Selling – Traditional Retailing, Non – Traditional Retailing and Other Emerging Retail Formats.

UNIT III

Deciding Location: Store Location – Introduction – Importance – Target and Store Location – Selection of Loyalty – Site Analysis – Trading Area Analysis – Demand Density – Supply Density – Site Availability – Common Errors – Recent Trends in Store Location. Supply Chain Management – The Supply Chain – Evolution – Why SCM – Innovation in SCM – Hierarchy of Supply Chain Decisions – Warehousing – Major Drivers of Supply Chain – Components of Supply Chain.

UNIT IV

Retail Buying/Merchandise Buying Systems: Buying System for Staple and Fashion Merchandise – Merchandise Budget Plan – Evaluation of Merchandise Budget Plan – Open–To–Buy System – Allocation of Merchandise to Stores – Analyzing Merchandise Performance – Global Sourcing Decisions – Costs Associated with Global Souring – Managerial Issues – Ethical and Legal issues – Counterfeit Merchandise. Retail Marketing Segmentation: Concept, Significance and Philosophies of Market Segmentation – Identification of Target Market – Market Segmentation Process – Understanding Target Market – Market Demand Potential – market Supply Factors – Key Retail Segments.

UNIT V

E–retailing and Technology in Retailing– Retailing through Internet – Factors Affecting Internet Buying Decisions – Traditional Retailing Vs Cyber Retailing. In Store Technologies, Electronic retailing, Technology. Human Interface, Challenges etc.–: Objectives in HRM in Retailing – Functions – Job Analysis Process – Creating Organizational Structure – Forms of Organization – Setting Up a Retail Organization. Category Management: Definition – Significance – Essentials/Prerequisite of Category Management – Category Management Process – Store layout and Design – Establishing a Pricing Strategy: Concept of Merchandise Pricing – Pricing Options – Setting the Retail Price – Price Objectives – Pricing Strategies – Types of Pricing – Price Adjustments and Discrimination.

Learning Resources

  • Retail Management: A Global Perspective – HarjitSingh S. Chand Publishing, 2009
  • Chetan Bajaj, RajnishTuli, Nidhi V Srivastava, ‘Retail Management’, Oxford University Press, 2005
  • Retail Management: A Strategic Approach– 9th edition, Berman, B. and Evans, J. R. (2003).
  • Arif Sheikh, Kaneez Fatima ‘Retail Management’, 4th edition, Himalaya Publishing House
  • Barry Berman, Joel R.Evans ‘Retail management, a strategic approach’ 8th edition, Pearson Education Asia
  • Michael Levy, Barton A Weitz, Ajay Pandit – ‘Retailing Management’ 6th edition (Special Indian edition) –Tata McGraw hill Publishing Co. Ltd.
  • David Gilbert ‘Retail Marketing Management’ 2nd edition, Pearson Education
  • Swapna Pradhan – ‘Retailing Management’ 2nd edition, Tata McGraw hill Publishing Co. Ltd

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