- 35 students
- 21 lessons
- 0 quizzes
- 6 week duration
Retail Management deals with consumer purchases of products and services. It requires direct customer engagement and coordination of business operations, from product design to distribution and post-delivery service. Those that are retail management professionals are commonly regarded as retail managers. A retail manager is required to solve the problems of customers, track retail orders, manage merchandising, manage HR and also control stock/inventory and supply chain management.
Course Objectives:
- To introduce various operations to retail sector
- To provide insights into the recent trends in retail sector
- To make students learn the basic theories and concepts of retail business management
- To make students learn to apply theories and concepts in practical situations
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Module 1
Retailing – Meaning – Theories of retailing- management of service & quality in retailing, world Retail scenario- retailing in developing countries- Indian retail scenario and its future prospects – Organised Vs Unorganised Retailing - Classification of Retail Stores- Growth of Retail formats –High street and Malls- Mall management – Multi Channel Retailing : Meaning, the evolution toward multi channel retailing – Franchising : Types, advantages, challenges, Franchising in India.
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Module 2
Store formats – Store location – Location analysis – Store positioning - Store design and Visual Merchandising – Breakdown of Retailing as a product – Role of private labels – Retail Pricing: Approaches, Influencing Factors, Price Sensitivity and Mark down Policy – EDLP
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Module 3
SCM – Supplier Relations – Logistics in retailing – Merchandise buying and management – Warehousing – Inventory control – Franchisee operations – International retailing-motives, reasons and typologies for international expansion – Building a sustainable competitive advantage, customer loyalty, location, Human resource management, Distribution and information systems, unique merchandise, Vendor relations Multiple sources of advantages : Strategic Retail Planning Process
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Module 4
Responsibilities of Store Managers Store Planning, Location Planning – Store Design & Retail image mix, Space mix – Effective retail Space Management, Store layout, Floor space management and Visual Merchandising and Displays
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Module 5
Integrated Systems and Networking – EDI, Bar Coding, RFID, Customer Database Management, Electronic Retailing – Role of Web, Online Retailing, Future Trends – CRM – Retail finance – Retail Statutory Obligations – Consumerism & Ethics in retailing – Corporate Social Responsibility
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