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Retailing (MKTG30006)

Undergraduate level 3Points: 12.5On Campus (Parkville)

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Overview

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Semester 1
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Retailing globally is in a state of rapid evolution – driven by technological advances, consumer trends, and global market dynamics. In this challenging and engaging environment, retail managers make complex decisions involving: retail strategy; complex retail channels; customer trends; retail locations; merchandise and service planning; training and motivating staff; the pricing, presentation and promotion of merchandise; and the impact of retail operations upon people, society and the environment. Agility and diverse capabilities are necessary to make these decisions efficiently and effectively, to create an edge in mature and crowded marketplaces. Omni-channel Retailing has a dual focus to: (1) introduce the fundamental concepts and principles of retail; and (2) explore the frontiers of retailing globally. This involves examining strategic and tactical retailing issues in complex retail environments—to enhance competitive advantage.

Intended learning outcomes

On successful completion of Retail Management, students should be able to:

  • Explain the central role of retail in society, and the impact of key market/retail trends upon this sector in the local and global contexts
  • Evaluate the omnichannel retail landscape to develop omnichannel retail experiences that dynamically evolve to anticipate shifting expectations of customers and enhance strategic competitive advantage
  • Understand and apply appropriate frameworks to develop and implement effective retail marketing strategy to create value for the retailer and the customer
  • Evaluate the implementation of the retail marketing strategy through the retail mix – including product and merchandise mix, pricing, location and store- design, promotions, and store management - to improve the total customer experience and retailer market competitiveness
  • Interpret retail problems and be capable of critically evaluating and applying appropriate retail management models and evidenced-based techniques to generate solutions and support agile decision-making
  • Engage in responsible retailing with an awareness of social, cultural, and environmental responsibilities, and the sustainability implications of retail decisions and practices

Generic skills

  • High level of development: oral communication; written communication; collaborative learning; problem solving; team work; application of theory to practice; interpretation and analysis; critical thinking; receptiveness to alternative ideas

  • Moderate level of development: use of computer software; accessing data and other information from a range of sources

  • Some level of development: statistical reasoning; synthesis of data and other information; evaluation of data and other information

Last updated: 8 November 2024