The course will enable students to -
COURSE OUTCOMES (Cos):
Course |
Learning outcome (at course level) |
Learning and teaching strategies |
Assessment Strategies |
|
Paper Code |
Paper Title |
|||
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 |
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.
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
Organization of buying process, category management, Sales forecasting, Assortment
planning process
Retail merchandize purchase: Branding strategies, Sourcing vendors, Negotiating with vendors, Vendor relationships
Managing store employees, Compensation & reward, Shrinkage management.
Controlling Costs : Increasing labor productivity, Reducing maintenance and energy costs, Reducing inventory losses
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
Links:
[1] https://business.iisuniv.ac.in/courses/subjects/retail-management-6
[2] https://business.iisuniv.ac.in/academic-year/2019-2020