Retail Management

Business Management 456

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Course Objectives:

To introduce, define, and develop an understanding of the retail environment in the 21st century.

To introduce and develop an understanding of strategic planning and strategy development in retailing.

To understand the implementation of the strategic planning process in the retailing environment, including customer and marketing analysis, merchandising, servicing the customer, and the development of a marketing mix that matches the retail strategy.

Text: Berman, B. and J. Evans, Retail Management, A Strategic Approach, N.Y.:PH, 1995.

Grading:

Class Participation: 30% Project 40% Quizzes in-class (6): 30%

Project:
A term project is to be completed as a small group project with 3-4 members in each team. The project assignment is to prepare a competitive analysis and retail business plan for a local retail firm. The firm will be of your choosing, but must be approved.
The nature and form of the retail business plan is outlined in the Business Plan handout which is distributed in class. The report is in three sections:
Section I, The Situation Analysis, is a strategy-definition report based on a shopper survey showing strengths and weakenssees vis-a-vis competitive stores, and the client's relative position using an analysis with the competitive set of stores.
Section II, Store Design and Atmosphere, is an evaluation of store layout, atmospherics, and service elements of your client store verses its major competitors.
Section III, The Presentation, is the development and presentation of the strategic plan for the client. New material for the report should include a SWOT (Strengths, Weaknesses, Opportunity, Threats) analysis, an analysis of the store promotional strategy, and the development of a strategy for the client. Groups will meet with Instructor every 2 weeks for progress reports and discussion.

Class Schedule and Study Guide

Jan 6 Introduction to Retailing Chapter 1 Jan 8 Strategic Planning Chapter 2 Jan 13 Strategic Planning Chapter 3: Quiz Jan 15 Retail Institutions Chapter 4 Jan 22 Retail Institutions Proposal Due Chapter 5: Jan 27 Identifying and Understanding Consumers Chapter 6: Quiz Jan 29 Information Gathering and Processing in Retailing Chapter 7 Feb 3 Trade Area Analysis Chapter 8 Feb 5 Site Selection Paper I Due Chapter 9: Quiz Feb 10 Retail Organization and Human Resource Mgmnt Chapter 10 Feb 12 Retail Organization and Human Resource Mgmnt Chapter 10 Feb 18 Operations Management: Financial Dimensions Chapter 11 Feb 19 Operations Management: Operational Dimensions Chapter 12: Quiz Feb 24 Buying and Handling Merchandise Chapter 13 Feb 26 Buying and Handling Merchandise Chapter 13 Mar 3 Financial Merchandise Management Chapter 14 Mar 5 Financial Merchandise Management Chapter 14 Mar 10 Pricing in Retailing Paper II Due Chapter 15 Mar 12 Pricing in Retailing Chapter 15: Quiz Mar 17 Establishing and Maintaining a Retail Image Chapter 16 Mar 19 Establishing and Maintaining a Retail Image Chapter 16 Mar 24 Promotional Strategy Chapter 17 Mar 26 Promotional Strategy Chapter 17 Mar 31 Planning by a Service Retailer Chapter 18 Apr 2 Integrating and Controlling the Retailing Strategy Chapter 19: Quiz Apr 7 Project Team Activity Apr 9 Project Team Presentations Apr 14 Project Team Presentations