414-RETAIL MARKETING SYNOPSIS UNIT-1 An overview of retail management: Introduction: Definition and scope retailers role in distribution channel

l benefits to customers, manufacturer and wholesalers. Types of retailers: Convenience stores chain of stores franchise specialty stores Departmental stores supermarket hyper market shopping mall shopping plaza discount stores factory/seconds outlet kiosks. Strategic Planning Retailing: Define the business mission conduct a situation audit identify strategic opportunities - evaluate strategic opportunities establish specific objectives and allocate resources develop a retail mix to implement strategy UNIT-2 Retail site location: Types of location site retail: solitary site the unplanned shopping area site the planned shopping area site merchandise kiosks retail location strategies specialty apparel stores category specialists grocery stores/food stores. Factors influencing the location: Factors influencing retailers choice of location: consumers choice of preference of location to gain competitive advantage understanding of the structural and social changes (or trends) high investment involving long-term financial implications - selects the final property asset carefully. Financial strategy in retailing: working on the strategic profit model, utility of the strategic profit model activity based costing (ABC) Marketing management issues in retailing: Understanding consumer behavior stages in the buying process factors influencing customers buying decision store design and layout role of pricing in retail market factors affecting retail pricing pricing strategies and approaches importance of promotion in retailing forms of retail promotion and communicating with customers factors affecting choice of communication methods campaign management. Human resource management in retailing: meaning of HRM Competitive advantage through effective HRM UNIT-3 Merchandise Management: Meaning of merchandise management categorizing the buying process setting objective for merchandising plan. Forecasting sales, developing an assortment plan: Sales forecasting for retailing determining the assortment planning process.

Merchandise planning systems, Buying Merchandise Retail pricing, Buying system open to buy system. UNIT-4 Retailing and information technology support systems: Meaning of information technology and its growing role in retailing role of retail data capture in retail transactions campoaign management adopting coding systems benefits of database marketing applications of it to retailing limitations to the web applications RFID (radio freaquency identification) Supply chain management Meaning of supply chain management retail logistics importance of information in the supply chain the cost structure in retail logistics storing and transmitting of information collaborative planning, forecasting and replenishment(CPFR) retailer managed production planning (RMPP) merchandise flows online logistics management or logistics of electronic retailing. Importance of customer service and quality management: Meaning of services, product concept in retailing meaning of customer service characteristics of retail firms offering goods service quality to customers customers perspective of service quality the Parasuraman Zeithaml and Berry model (1985) approaches to develop customer service advantage how do customers evaluate retail services the GAPS model to improve quality of retail service quality service problems and complaints handling. Customer relationship management: Meaning of customer relationship Management importance of the CRM process steps involved in the CRM process a model of relationship based buying relationship based buying importance of customer retention management the what factors. UNIT-5 Store management: Managing the store, store layout, design and visual merchandising: Types of customers meaning of customers loyalty variables influencing store loyalty building loyalty through advocating certain essential factors helping customers in the planned/unplanned and impulse buying decisions motives for shopping and within the store factors a store loyalty model influencing customer behavior through visual merchandising value added through private labels. Retailing in India; changes impacting retailing common woes of retailing: Consumer pull changes in the social structure and consumer behavior retail proximity to consumers evaluation of family owned establishment emerging rural market changes occurring in the retail scenario global retailer call for FDI (foreign direct investment) corporate interest in retailing. Research for retailing: Purpose and types of research methods retail audits example of a few research studies in India.

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