(Podcast) Retail Management

Episode 1 defines retailing and explains retailing concepts. It discusses retail functions, special relations between retailer and supplier, and the future of retailers. The topic concludes with a discussion on the elements of retailing, which includes the total retail experience, relationship retailing and customer services. This episode studies the usefulness of strategic planning for all kinds of retailers. It also focuses on the planning process: situation analysis, objectives, identifying consumers, overall strategy, specific activities, control and feedback.

Episode 2 distinguishes the complexities of building and sustaining relationships with both customers and other channel members. It discusses value and value chain, customer relationships, channel relationships and the differences in relationship-building between retailers of goods and services. The topic concludes with a discussion on the impact of technology on retailing relationships and the interplay between ethical performance and relationships in retailing. This episode also discusses many influences on retail shoppers: demographics, lifestyles, needs and desires, shopping attitudes and behaviour, retailer actions that influence shopping, and environmental factors. It also places these elements within a target marketing framework, because it is critical for retailers to recognise what influences their customers and potential customers, and for them to act accordingly.

Episode 3 discusses the characteristics of retail institutions on the basis of ownership type: independent, chain, franchise, leased department, vertical marketing system and consumer cooperative. The topic concludes with a discussion on the methods used by manufacturers, wholesalers and retailers to obtain control in a distribution channel. This episode also outlines the retail institutions in terms of their strategy mix. The concepts discussed are: wheel of retailing, scrambled merchandising and retail life cycle. It also discusses two types of retail stores, which are food and general merchandise retailers. Finally, we will look at non store retailing, electronic retailing and nontraditional retailing approach. It covers direct marketing, direct selling, vending machines, the World Wide Web, video kiosks and airport retailing.

Episode 4 deals with information gathering and processing in retailing. It examines the information flow in a retail distribution channel and reviews the difficulties that may arise from basing a retail strategy on inadequate information. Then examine indepth the retail information system, its components and recent advances in information systems with particular emphasis on data warehousing and data mining. The topic concludes with a discussion on the marketing research process.

Episode 5 outlines four step approaches to location planning and looks at trading area analysis. You will learn the use of demographic information systems, size and shape of trading areas, how to determine trading areas for existing and new stores, and the major factors to consider in assessing trading areas. Several data sources are described at the end of this topic. This episode also covers the last three steps in location planning: deciding on the most desirable type of location, selecting a general location and choosing a particular site within location. It also contrasts isolated stores, unplanned business districts and planned shopping centre locales. The topic concludes with the criteria for rating each location.

Episode 6 describes how a retailer can use its organisational structure to assign tasks, policies, resources, authority, responsibilities and rewards to satisfy the needs of the target market, employees and management. It also explains how human resources management could be applied, so that the structure works properly.