Strategic Retail Management
Course Description
This course presents an overview of the strategic retail management environment from the beginning to the end of the retail value chain. Students gain an understanding of how to manage in the highly competitive retail environment. Issues concerning merchandising, customer experience, retail channels, diverse customer demographics, and other industry trends are examined.
Topics and Objectives
Introduction to Strategic Retail Management
- Compare and contrast business and retail management.
- Examine the history of modern retail.
- Categorize the different types of retailers.
The Retail Customer Experience
- Quantify perceived value using customer expectations and results.
- Explain the importance of customer satisfaction in the retail environment.
- Formulate strategies for exceeding customer expectations.
- Formulate tactics for creating customer experience based on varying retail strategies.
Buyer/Vendor Relationships
- Explain the importance of productive vendor relationships in retail organizations.
- Formulate strategies for creating and maintaining productive vendor relationships in both large and smaller retail organizations.
- Examine the buying process from both the vendor and buyer perspective.
Competitive Strategies in the Retail Environment
- Identify competitive strategies in the retail environment.
- Critique merchandise presentation techniques in the various retail channels.
- Examine the importance of pricing and promotion techniques used in retail.
Current Issues in Retail Management
- Analyze trends in retail management.
- Explain how customer demographics can influence trends in retail.
- Examine legal and ethical issues in retail management.