This course provides an overview of the fundamental principles and best practices essential for the effective management of retail stores. The course addresses all critical operational areas, including strategic considerations like site selection, physical layout, and organizational staffing. A major focus is placed on market positioning, delivering exceptional customer service, executing effective promotional techniques, and mastering all specialized aspects of the retail buying function to ensure profitability and sustained market success.
Prerequisites
None.
1. Analyze the macro and micro-environments of retailing, including competitive forces, technological changes, and socio-economic trends that influence consumer behavior and market dynamics.
2. Characterize and formulate effective retailing strategies, encompassing target market selection, retail format development, and sustainable competitive positioning within the market.
3. Explain the complete merchandise management process, including forecasting sales, planning assortments, buying, pricing, allocating, and controlling inventory to maximize profitability.
4. Describe the critical components of successful store management, detailing best practices for efficient store operations, visual merchandising, personnel management, and loss prevention.