Introduction to Retail Management
Week 1- Understanding Retail Business
- What is retailing?
- How does retail business work
- Characteristics of Retail Business
- Roles & Responsibilities in Retail Business.
- Retail Focus/Significance of Retail Business
- Manufacturer – Retailer Relationship Change
- Terminologies in Retail Business
- Philosophy of retail formats classification
- Various basis of classification of retail formats
- Ownership based classification
- Strategy mix based classification-Food & Grocery
- Strategy mix based classification-General Merchandise
- Non-traditional classification
- Evolution of retail formats
- Business model-Planning-Strategy
- Retail Competition
- Retail strategy
- Strategic profit model
- Profit management path
- Asset management path
- Merchandise Financials
- Merchandise process
- Inventory management
- Store plan
- Factors Influencing retail pricing
- Pricing methods
- Pricing implementation & adjustments
- Communication strategy
- In store promotions
- Elements of retail promotion mix.
