Retail Management

Paper Code:

25BSG423

Credits:

Contact Hours:

90.00

Max. Marks:

100.00

Objective:

This course will enable the students to know the current retail industry in India, analyze it and equip the students with knowledge of starting and managing every level of retail store.

Course Outcomes:

Course

Learning Outcome (at course level)

Learning and teaching strategies

Assessment Strategies

Course Code

Course

title

25BSG423

Retail Management (Theory)

CO103: Adeptly demonstrate current essentials of retail industry & consumer behaviour.

CO104: Create a Framework to take up decision regarding retail strategy, pricing, location & financial aspects in retail.

CO105: Appraise the concept of merchandising.

CO106: Layout skills of managing employees in a retail store.

CO107: Illustrating CRM, Gaps Model, SCM, layout and visual merchanding along with recent trends in retail industry.

CO108: Contribute effectively in course-specific interaction.

Approach in teaching: Lectures, Discussion, PPT, Sharing web links.

Learning activities for students:

: Self learning assignments, Role plays, presentation, Real life examples from newspapers, business magazines and web sources. case study discussions.

CA test,

Semester end examinations, Quiz, Assignments, Presentation.

18.00

Unit I:

Introduction to Retail Management & Consumer Behaviour

Introduction to Retail Management: Retailing: Meaning, Significance, Retail Format, Concept and differences between organized and unorganized Retail,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.

18.00

Unit II:

Retail Strategy, Price, Location and Communication Mix

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.

18.00

Unit III:

Merchandising

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

18.00

Unit IV:

Retail Human Resource Management & Controlling Costs

Retail Human Resource Management: Managing store employees, Compensation & reward, Shrinkage management.
Controlling Costs : Increasing labor productivity, Reducing maintenance and energy costs, Reducing inventory losses

18.00

Unit V:

Retail Operations, CRM, Customer Service and Layout & Visual Merchandising

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
Recent trends in Retail Management.

Essential Readings:

Levy, Michael and Weitz, B A., Retailing Management, Tata McGraw-Hill Publishing Company Ltd.
Vedamani, Gibson G., Retail Management, Jaico Publishing House
Pradhan, S, Retailing Management: Text and Cases, Tata McGraw-Hill Publishing Company
Bajaj C., Tuki R., Srinivasa N V.; Retail Management, Oxford University Press

References:

1. Dunne , Lusch, Retailing, South-Western Educational Publishing

2. Retail Management, ICFAI Centre for Management Research

3. Khandelwal R A, Retail Management, RBSA

4. Berman, Barry and Evans J, Retail Management – A Strategic Approach; Pearson Education.

Note: Latest edition of the readings may be used.