Complete Syllabus of Retail Management | MKT 689 | MBS 4th semester

Credits: 3

Lecture Hours: 48

Course Objective:

This course aims to provide knowledge and skills to students in the area of retail management required specially for the big retail institutions.

Course Description:

This course is designed to develop students to become effective retail managers. The course includes the concept, characteristics and importance of retailing, strategic planning in retailing, retail institutions by ownership, retail institutions by store-based strategy mix, choosing a store location, managing a retail business, merchandise management, pricing and promotional strategies in retailing

Course Details:

Unit 1: Introduction LH 4

Concept of retailing, characteristics of retailing. Retail strategy. Importance of retailing. Retailer relationship: customer relationships and channel relationships. The differences in relationship building between goods and service retailers. Ethical performance and relationships in retailing: ethics, social responsibility and consumerism

Unit 2: Strategic Planning in Retailing LH 4

Situation analysis, Objectives, Identification of consumer characteristics and needs, Overall strategies, Specific activities, Control and feedback. Opportunities and threats in global retailing

Unit 3: Retail Institutions by Ownership LH 4

Retail institutions characterized by ownership: Independent, chain, franchising, leased department, vertical marketing system, consumer cooperatives

Unit 4: Retail Institutions by Store-based Strategy Mix LH 10

Consideration in planning a retail strategy mix: The wheel of retailing, Scrambled merchandising, the retail life cycle, mergers, diversification and downsizing. Food oriented retailers: Convenience store, conventional supermarket, food-based superstore, combination store, box(limited-line) store, warehouse store. General merchandise retailers: Specialty store, traditional department store, full-line discount store, variety store, off-price store, factory outlet, membership club, flea market

Unit 4: Choosing a Store Location LH 5

Importance of location to a retailer. Trading area analysis. Characteristics of trading area. Types of location. The choice of a general location. Location and site evaluation

Unit 5: Managing a Retail Business LH 10

Setting up a retail business. Organizational patterns in retailing. Human resource management in retailing. Operating a retail business: Operations blue prints, store format, size and space allocation, store maintenance, store security, credit management

Unit 6: Merchandise management LH 6

Merchandising philosophy. Buying organization formats and processes. Devising merchandising plans. Category management. Implementing merchandising plans. Logistics. Inventory managements.

Unit 7: Pricing and Promotional Strategies in Retailing LH 5

External factors affecting retail price. Developing a retail pricing strategies. Elements of retail promotion mix. Planning a retail promotional strategies.

Basic Book:

Berman, B., & Evans, J. R. (2010). Retail Management: A Strategic Approach. New Delhi: Pearson Education, Prentice Hall of India Limited.

Reference Books:

Bajaj, C., Tuli, R., & Srivastava, N. V. (2012). Retail Management. New Delhi: Oxford University Press.

Gilbert, D. (2012). Retail Marketing management. New Delhi: Pearson Education, Prentice Hall of India Limited.

Levy, M., Weitz, B. A., & Pandit, A. (2011). Retailing Management. New Delhi: Tata McGraw Hill Education Private Limited.