FUNDAMENTALS OF RETAIL MANAGEMENT

Paper Code: 
MRM 321
Credits: 
4
Contact Hours: 
60.00
Max. Marks: 
100.00
Objective: 

Learning Outcomes (at course level)

Learning and teaching strategies

Assessment Strategies

 

 

 
  1. Understand the concept of retailing
  2. Explore the opportunities available in retail sector
  3. Review different retail formats
  4. Analyze role of retailers in economic development
  5. Develop decision making skills for managing retail business
  6. Analyze the 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

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

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

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

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

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: 

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

 

Suggested Readings:

  • Swapna Pradhan, Retail Management, Tata McGraw Hill
  • Gibson G. Vedmani, Retail Management, Jaico Publishing House

 

References: 

E Resources:

  • Asian Journal of Management Cases, http:// sagepub.com
  • South Asian Journal of Business and Management Cases, http:// sagepub.com

 

Journals:

  • International Journal of Research and Analytics
  • Gyan Management
  • Consumer Voice

 

Academic Year: 
2023-2024
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