Retail Marketing

Concept of retailing, characteristics of retailing. Types of retailers. Growing importance of the retail industry. Dynamism in retailing: environmental theory, cyclical theories, and conflict theory. Retailing and marketing – strategic approach to retail marketing

Consumer behavior in retail context- simple model of retail purchase, time taken to shop, buying roles, buying decision process and its implications for retail management, influences on the consumption process: motivational forces, demographic factors, social class, family influence, psychographics, role of children, social influence

Service components in retailing: tangible – intangible continuum, service quality management – Model of perceived service quality, quality gap model: the Gronroos model of perceived quality management and the Parasuraman, Zeithaml and Berry model, implementation of service management, growing emphasis on quality control, characteristics of retail quality, quality auditing system, service recovery in retail context.

Concept of retail marketing mix, marketing mix for retail services, retail products, and breakdown, concept of retail brand, role of branding in retail business, retail brand positioning, brand loyalty, brand personality, consumers’ concept of self-image, brand proposition, managing brands over their life cycles, brand updating, brand extension

Merchandise management concept, methods of planning and calculating inventory levels, merchandiser skills and profile, category management, range planning, space allocation, merchandise assortment and support, negotiating the purchase

Concept of retail price, price sensitivity, factors affecting price sensitivity, approaches to retail pricing, pricing and the relationship to value, markdown policy consideration for retailers.

Objectives of retail promotion, promotional budget approaches, communication effects, advertising, sales promotion, retail marketing and loyalty schemes, design and implementation of relationship marketing schemes, personal selling, and public relations.

Channels and channel flows, supply channel, growth of channel relationship and partnership, distribution logistics and stock control, retail logistics: the cost structure.

The different pressures for a company to be socially responsible, criticism of marketing activities, product misuse and safety issues, green issues, the acceptability of societal marketing approach, and corporate social responsibility. Addendum: At least one case will be administered at the end of each chapter. The student will also complete a project and a few other assignments as specified by the faculty member.