Fundamentals of Retail Management

Paper Code: 
MRM 126
Credits: 
4
Contact Hours: 
60.00
Max. Marks: 
100.00
Objective: 

Course Objectives :

The basic purpose of this course is:

• Give students an in-depth knowledge of Retail Management

• Get them familiarized with retail sector.

Course Outcomes(CO):

The student will be able to-

  1. Understand the concept of retailing
  2. Understand the career opportunities available in the retail sector
  3. Understand different retail formats
  4. Develop decision making skills respect to customer relationship management.
  5. Understand the different factors that influences the buyers.

Approach in teaching:

Interactive Lectures, Group Discussion, Tutorials, Case Study, Demonstration.

 

 

Learning activities for the students:

Self-learning assignments, presentations, practical exercises

Class test, Semester end examinations, Quiz, Assignments, Presentation, Peer Review
 

 

12.00
Unit I: 
Retailing:

Retailing: Concept, Scope, Place of retailing in Distribution Channel, Evolution of retailing in India, Development of retail sector in India,
Factors behind the change of Indian retailing industry, Functions of retailer, social and economic significance of retailing
Theories of retail change: Theory of natural selection in retailing, Theory of wheel of retailing, Accordion theory, retail life cycle theory

12.00
Unit II: 
Retailer and retail formats:

Retailer and retail formats: Retailers’ characteristics, Type of merchandise, Variety and assortment, Services offered, Price and cost of offering breadth and depth of merchandise and services
Retail institutions by ownership, Retail institutions by store-based strategy mix, web, non-store based and other forms of non-traditional retailing

12.00
Unit III: 
Retailing strategy:

Retailing strategy: Concept, Situation Analysis, Objectives, Control, Feedback. Building a sustainable competitive strategy- Customer Loyalty, Location, HRM, Distribution and Information Systems, Unique Merchandise, vendor relations, Customer Service. Strategic Retail Planning Process

12.00
Unit IV: 
Retail Marketing:

Retail Marketing: Retail Marketing Mix, Retail Pricing, Retail Promotional Mix, STP Approach, Retail Communication Mix, Concept of Integrated Marketing Communication, Role of Branding in retail

12.00
Unit V: 
Store Location:

Store Location: Trading Area Analysis, Characteristics of Trading Area, Types of location, Location and Site Evaluation
Store Layout, Design and Visual Merchandising: Store Design, Space Management, Visual Merchandising, Atmospherics, Significance of retail image

Essential Readings: 

• Levy Weitz, Retailing Management, Mc Graw Hill
• Barry Berman, Joel R. Evans, Retail Management, Pearson Education
• Chetan Bajaj, Rajnish Tuli, Nidhi V. Srivatava, Retail Management, Oxford University Press
• Swapna Pradhan, Retail Management, Tata McGraw Hill
• Gibson G. Vedmani, Retail Management, Jaico Publishing House

Academic Year: 
2020-2021
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