Introduction to Retail Management
This course will introduce the basic concepts of retailing to the participants. The key take away would be understanding how a retail business works; the core issues and challenges involved; the key terms and terminologies associated and an appreciation of Indian retail sector.
About this course
This course is an introduction to understanding retail business. In this course, we will try to unravel the business model of a retail business – essentially the brick and mortar segment.
We will define and discuss retail formats and deliberate the evolution of retail formats. We will use various theories and illustrations that explain the retail business as it is today.
We will define and discuss retail formats and deliberate the evolution of retail formats. We will use various theories and illustrations that explain the retail business as it is today.
What you'll learn
An introduction to the retail business model for brick and mortar formats
Define the various constituents of retail strategy
How to develop and sustain a competitive advantage in retail sector
Define the practical tools and techniques of retail strategy
Define the various constituents of retail strategy
How to develop and sustain a competitive advantage in retail sector
Define the practical tools and techniques of retail strategy
Week 1: Understanding Basics of Retail Business
- What is Retailing?
- How does Retail business work?
- Retail verticals; Roles and responsibility, Organizational structure
- What is organized Retail?
- Why retail business is significant today?
- Retail classification system and retail formats
- Traditional retail formats, mom and pop stores
- What is ideal for India? Consequences
- Retail strategy mix
- Merchandising basics.
- What is merchandising? implications
- Pricing basics, methods
- Retail pricing, consequences
- Retail distribution network
- Supply chain basics
- Warehousing, physical distribution, logistics, examples
- Basics of Retail Promotion.
- What is emerging market? Why it is significant today? What is the retail scenario in emerging markets?
- Indian retail sector evolution in different sectors.
- Characteristics of Indian consumers
- Expert opinion on Indian retail sector – research reports analysis
- Basics of E-tailing basics
- Various E-tailing business models
- What is the future in E-tailing? Consequences?
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