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Retail Management
Rating: 4.5 out of 5(6,422 ratings)
20,469 students

Retail Management

Retailing includes all business activities involved in selling goods and services to end consumers.
Created byManagement Study Guide
Last updated 9/2018
English

What you'll learn

  • Explain What is Retail Management
  • Describe the Benefits of Retailing
  • Explain the Retail Selling Process
  • Explain the Classification of Retailers
  • Explain the Components of Retailing Concept
  • Understand the Steps of Retail Strategy Planning
  • Explain What is Franchising
  • Explain What is Merchandising
  • Explain What is Visual Merchandising
  • Describe the Importance of Location in Retailing
  • Explain the Types of Retail Location
  • Explain What is a Private Label
  • Explain the Process of Creation of Private Label
  • List the Myths about Careers in Retailing
  • List the Tips for Success in Retailing

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Course content

2 sections • 15 lectures • 41m total length

  • Introduction5:05
  • Explain What is Retail Management1:08

    Retail management coordinates selling goods and services to end consumers for personal use, focusing on consumer needs, merchandise assortment, and attractive display within the distribution channel from manufacturer to consumer.

  • Explain the Retail Selling Process1:08

    Explore the retail selling process from acquiring product knowledge to closing the sale, including studying and approaching customers, understanding needs, presenting merchandise, overcoming resistance, under-promise and overdeliver, and suggestive selling.

  • Explain the Classification of Retailers4:44
  • Explain the Components of Retailing Concept1:11

    Explain the components of the retailing concept—customer orientation, coordinated effort, value driven, goal oriented, and retail strategy—and how they satisfy customer needs with value through pricing and service.

  • Explain the Steps of Retail Strategy Planning4:59
  • Explain What is Franchising5:40
  • Explain What is Merchandising2:27
  • Explain What is Visual Merchandising1:02
  • Describe the Importance of Location in Retailing0:59
  • Explain What is a Private Label3:05

    Private labels are retailer-owned brands sold in the retailer’s stores, classified as store brands, umbrella brands, or individual brands, with higher margins and control over design, merchandising, and distribution.

  • Explain the Process of Creation of Private Label6:02
  • List the Myths about Careers in Retailing1:11
  • List the Tips for Success in Retailing2:52

Requirements

  • No prior knowledge is necessary.

Description

The word ‘Retailing’ is derived from the French verb ‘retailer’, which means, "to cut a piece off.” From a marketers point of view, retailing is defined as a set of marketing activities that are designed to provide satisfaction to the end consumer. By the end of the course you will be able to: Understand What is Retail Management, Learn about the Retail Selling Process, Explain the Classification of Retailers, Explain the Steps of Retail Strategy Planning, Understand what is Franchising, Understand What is Visual Merchandising, Explain the Types of Retail Location, Understand What is a Private Label and the Process of Creation of Private Label, List down the Myths about Careers in Retailing and Learn the Tips for Success in Retailing.

Who this course is for:

  • This course is good for management learners and people who want to learn about Retail Management

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