H306: Retail Management
Module Synopsis
Retailing is an important field of study because of its impact on a country’s economy. Retailers today
need to plan for and adapt to a complex and ever changing environment. Retailers need to
understand retail planning strategies to gain competitive advantage and use advanced technologies
and analytical tools to improve operational efficiencies to provide more value to their customers.
This module is designed to stimulate student interest in retail management and career by capturing
the exciting, challenging and rewarding opportunities facing retailers today. Students will be provided
with useful skills and knowledge on developing retail strategies and understand the financial
implications of strategic retail decisions. Field trips may be included as part of the retail learning
experience.
Topics covered include types of retailers, buying and merchandise management, setting retail pricing
and store management.
Module Objectives
At the end of this module, students should be able to:
1. Analyse the challenges in the retail landscape and the economic significance of retailing.
2. Examine retail management decision processes in retail planning for competitive advantage.
3. Apply merchandising techniques in the planning, management and control of product through the
retail cycle from its conception to sale.
4. Discuss retail operational responsibilities for optimizing returns.
The following are the content-related abilities strengthened by the curricular process of the module:
Lesson 1 : Introduction to Retail Management
1. Explain the importance of retailing in an economy
2. Describe the retail environment and customers
3. Identify the opportunities in retail business
Lesson 2 : Types of Retailers
1. Identify the different types of retailers
2. Describe the ways to classify the different types of retailers
3. Distinguish retailers by ownership
Lesson 3 : Multichannel Retailing
1. Explain multichannel retailing and its benefits to retailers
2. Describe customer benefits provided by different channels
3. Discuss the guiding principles for successful multi-channel retailing
Lesson 4 : Retail Planning
1. Explain the benefits of strategic retail planning
2. Identify the elements of a strategic retail plan
3. Examine the controllable and uncontrollable factors of a retail strategy
STRICTLY CONFIDENTIAL. FOR ARTICULATION PURPOSE ONLY.
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Lesson 5 : Retail Marketing Mix
1. Explain retail marketing mix and its importance in retail strategy
2. Identify the characteristics of a target market for creation of a successful marketing mix
strategy
3. Apply relationship marketing for competitive advantage
Lesson 6 : Application of IT on Retailing
1. Identify information technology (IT) developments that are facilitating improved supplierretailer communications
2. Explain the role of IT in improving retailer-customer interactions
3. Explain how retail solutions help retailers to create strategic advantage
Lesson 7 : Retail Performance
1. Explain the importance of establishing objectives and measuring performance against specific
goals
2. Identify types of performance measures
3. Describe the components of a strategic profit model
Lesson 8 : Merchandise Planning
1. Explain the importance of sound merchandising philosophy
2. Identify merchandise buying systems
3. Analyse merchandise management performance
Lesson 9 : Category Management
1. Describe the characteristics of category management and its relationship with suppliers
2. Identify the processes in category management
3. Discuss the impact of category captains in merchandise management
Lesson 10 : Buying Merchandise
1. Identify the types of merchandise to buy for the category
2. Describe the functions of support services available for buying merchandise
3. Discuss process of negotiation with vendors
Lesson 11 : Retail Pricing
1. Identify the factors for setting retail pricing
2. Describe the methods of price setting including the use of break-even analysis
3. Discuss price adjustments and markdowns
Lesson 12 : Retail Location
1. Identify strategic choice and location decision alternatives
2. Evaluate a site for location of retail store
3. Identify trade area characteristics
Lesson 13 : Store Design and Visual Merchandising
1. List the store design objectives
2. Identify different types of store layouts
3. Evaluate visual merchandising techniques
Lesson 14 : Store Management
1. Explain the role and responsibilities of retail store managers
2. Describe the motivation and management of employees
3. Apply inventory shrinkage management strategies
STRICTLY CONFIDENTIAL. FOR ARTICULATION PURPOSE ONLY.
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Lesson 15 : Consumerism and Ethics
1. Identify the ethical challenges in retailing
2. Discuss the effects of ethics, social responsibility and consumerism from a retailer’s
perspective
3. Identify the acceptability of a societal marketing approach for retailers
Module Coverage
Allocated time per day
(One-Day-One-Problem PBL Pedagogy)
Module Coverage
Discussion in
Study Cluster
Resource Gathering
and Team Work
Formal Site Visit
1. Introduction to Retailing
4
2
-
2. Types of Retailers
4
2
-
3. Multichannel Retailing
4
2
-
4. Retail Planning
4
2
-
5. Retail Marketing Mix
4
2
-
6. Application of IT on
Retailing
7. Retail Performance
4
2
-
4
2
-
8. Merchandise Planning
4
2
-
9. Category Management
4
2
-
10. Buying Merchandise
4
2
-
11. Retail Pricing
4
2
-
12. Retail Location
4
2
3
13. Store Design and Visual
Merchandising
14. Store Management
4
2
3
4
2
-
15. Consumerism and Ethics
4
2
-
60 hrs
30 hrs
6 hrs
Total = 15 Problems = 96
hours
STRICTLY CONFIDENTIAL. FOR ARTICULATION PURPOSE ONLY.
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