Coming soon
Retail Management
Course Objectives:
The course will enable students to -
- Provide the learner with an over view of retail industry.
- Imparting the empirical knowledge of the functioning of retail formats.
COURSE OUTCOMES (Cos):
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Course |
Learning outcome (at course level) |
Learning and teaching strategies |
Assessment Strategies |
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Paper Code |
Paper Title |
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BSG 423 |
Retail Management (Theory) |
The students will be able to –
CO84: To familiarize the students with the fundamentals of retail business and current trends in the industry.
CO85: To discuss and make the students understand the integrities involved in deciding location, pricing and communication by a retailer.
CO86: To equip the students to take effective merchandise management decisions for the products and services.
CO87: To develop the skills among the students to enable them to manage retail store effectively there by reducing costs.
CO88:To make the students aware about nuances in designing a retail store and customer relationship. |
Approach in teaching:
Classroom Lectures, Discussion, PPT, Sharing web links, Videos .
Learning activities for the students: Self learning assignments, Role plays, presentation, case study, Group discussions. |
Class test, Semester end examinations, Quiz, Assignments, Presentation, Individual and group projects |
Introduction to Retail Management: Retailing: Meaning, Significance, Retail Format, Functions performed by retailers, Types of retailers (store, non-store retailing), Indian retailing scenario (Drivers and challenges to Retail in India, FDI in India). Retail Consumer behavior - Types of buying decisions, Retail buying process, Factors influencing retail buying decisions.
Retailing Strategy: Definition, strategic retail planning process, Strategies to sustain competition, growth strategies. Financial strategy: Strategic profit model, Retail Pricing: Pricing strategies, Price adjustments Location & site analysis: Types of retail locations, factors affecting Trade area demand, factors affecting attractiveness of a site. Retail communication mix: Meaning, Methods of communicating with customers, Retail communication process and Building customer loyalty.
Merchandize planning: Organization of buying process, category management, Sales forecasting, Assortment planning process Retail merchandize purchase: Branding strategies, Sourcing vendors, Negotiating with vendors, Vendor relationships
Retail Human Resource Management: Managing store employees, Compensation & reward, Shrinkage management. Controlling Costs : Increasing labor productivity, Reducing maintenance and energy costs, Reducing inventory losses
Retail operations: Supply chain management: Meaning, process, importance, retail logistics. Customer Relationship Management: Meaning, Importance, Customer Relationship Management process. Retail customer service: Customer service strategies, Service quality appraisal, SERVQUAL GAPS model, Service recovery Layout and Visual merchandising: Types of store layout designs, planograms, Merchandise presentation techniques.
1. Levy, Michael and Weitz, Barton A., Retailing Management, Tata McGraw-Hill Publishing Company Ltd., New Delhi, 2. Vedamani, Gibson G., Retail Management, Jaico Publishing House, Mumbai 3. Pradhan, Swapna, Retailing Management: Text and Cases, Tata McGraw-Hill Publishing Company, New Delhi. 4. Gibson G. Vedmani: Retail Management – Functional Principles & Practices; Jaico publishing house. 5. Bajaj Chetan, Tuki Rajnish, Srinivasa Nidhi V.; Retail Management, Oxford University Press. 6. Berman, Barry and Joel R Evans: Retail Management – A strategic approach; Pearson Education.
- Dunne & Lusch, Retailing, South-Western Educational Publishing.
- Retail Management, ICFAI Centre for Management Research, Hyderabad.
- Khandelwal R Aditi, Retail Management, RBSA.
Note: Latest edition of the readings may be used.
