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Retailing is fundamental to the marketing mix. Retail stores are all around us, and provide marketers with a means to attract and retain customers, and build brand value. Retail Management examines the strategic issues relating to retailing management and the frontiers of retail innovation. Subjects covered include developing retail strategy in highly competitive environments, experiential retailing, multi-channel retailing (online and offline), managing customer and supplier relationships, merchandise and range management, retail branding and flagship stores, global retailing strategies, big data in retail, and responsible retailing. Theoretical discussions will be complemented with practical case studies and current examples in the world of retail.
Intended learning outcomes
This subject provides an introduction to the fundamental concepts and principles of retail management. For managers, this involves examining both strategic and tactical issues in retailing in order to build supplier and customer relationships and strong retail brands as a means of enhancing competitive advantage.
On successful completion of this subject, students should be able to:
- Appreciate the importance of retailing and distribution for implementing marketing strategies and building customer based brand equity and shareholder value;
- Understand retail and distribution management principles, theories and models;
- Analyse retail and distribution based problems and be capable of applying relevant models/theories to generate appropriate strategic and tactical solutions;
- Apply concepts and principles of relationship management to enhance relationship effectiveness with retailers and distributors;
- Examine critical issues associated with creating exciting in-store environments that enhance customer experiences and reinforce brand position;
- Understand how retail managers can make informed strategic choices in relation to managing channel partners including channel conflict, retail form (online vs. bricks and mortar), global sourcing, and managing staff and customers across cultures to improve strategic outcomes;
- Manage the retail marketing mix including product and merchandise mix, pricing, location and store-design, and promotions (including sales staff) to improve customer satisfaction and financial growth.
On successful completion of this subject, students should have improved the following generic skills:
- Interpretative and analytical skills, which will be fostered through the application of retailing and distribution theories/models to case studies and oral/written assignments;
- Oral and written communication skills, which will be improved through weekly class discussions and written assignments;
- Collaborative learning, teamwork and presentation skills, which will be developed through the use of groups in the anaysis of case studies, written assignments and group presentations.
Last updated: 26 March 2020