RETAIL MANAGEMENT

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Retail marketing is comprised of the activities related to selling products directly to consumers through channels such as stores, malls, kiosks, vending machines or other fixed locations.

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RETAIL MANAGEMENT

  1. 1. Retail - Overview • Retail marketing is comprised of the activities related to selling products directly to consumers through channels such as stores, malls, kiosks, vending machines or other fixed locations. • Fast growing urbanization, increased footprint of organized retail format stores and multi activity malls has completely changed the urban landscape and has made Retail one of the fastest growing and high potential professions for youngsters. • An estimate puts the organized retail business at $635 billion by 2015. The organized retail sector is now rapidly gaining ground in the vast potential mid & small towns of India. • The module shall also cover Retail Marketing, Supply Chain Management & Logistics. You will learn the processes required for procurement, merchandising and CRM. You will also develop skills in analyzing and controlling costs. This module will also focus on the importance of cost management in retail marketing, micro financing and retail economics.
  2. 2. Impact of Retail Management Retailing is the timely delivery and availability of products to consumers at prices that they can afford. In the last few years, the concept of retailing has changed considerably in India with the traditional neighborhood “Kirana” stores being replaced by huge malls and large chain of stores. Nowadays, the Indian consumer gives more emphasis on quality of products even if it comes at a price. The Indian retailing industry is becoming increasingly competitive with big brands both national and international entering the market. The retail industry has a tremendous contribution in boosting the Indian Economy by increasing employment, enhancing exports and giving small scale industries the opportunity to sell their products at competitive prices.
  3. 3. The boom in the retail industry is mainly due to the following reasons: • • • • • • Increase in the purchasing power of middle class Indians Indians becoming more and more quality conscious Change in taste and living styles Emergence of big international names in the retail sector The entry of FDI in the retail sectors Rapid growth of IT and engineering sectors Retailing in the recent era stands as an exciting yet complex business sector in most developing economies. According to recent surveys, the Indian Retail economy is growing but it needs to pick up more speed. Nevertheless, the contribution of the retail sector cannot be underestimated and has extensively helped in enriching the economy of our country. But the Indian retail industry needs to be more organized since retail management offers huge benefits.
  4. 4. Benefits of Modern Retail Management • Better Quality Products & Services • Better Lifestyle • Bridges the gap between consumers and manufacturers • Up-gradation of the agricultural sector and other small-scale industries • Promotes Tourism • Increases Employment • Boost in Exports
  5. 5. Scope The last decade has seen Retail emerging as one of the fastest growing industry, consequently the job opportunities in Retail have grown many fold. WLCI programme will enable you to become a well rounded Retail Professional. Thus, making you competent to pursue careers such as Sales Manager, Store Manager, Department Manager, Customer Service Manager and Logistics Manager.
  6. 6. Deliverables & Content Deliverables Content Retail trends and its future, retail planning, genesis of targets & monitoring and reviewing. Retail Forecasting tools and techniques, Retail tactics, New trends and technologies, E-retailing, Use of Retail Environment Information Technology and Electronic Data Interchange (EDI) Store Management Store & Sales Force Management methods and their application Retailing Information Systems, Micro Financing, Auditing and cost control. Cost analysis and management, Advanced retail economics, Cost Management Legal and Statutory framework. Retail Marketing Methods of Retail promotions & New business development.
  7. 7. Deliverables & Content Deliverables Content Procurement, Supply chain Pricing and revenue management in the supply chain. Inventory Management & Logistics management and receipt & issue management. Customer Service in retailing & CRM data management, data input, Customer Relationship CRM software, Loyalty programmes, Moments of truth in retail, Management Consumer Insights & Knowledge. Application of IT to retail marketing. Development of International retailing, International retail structures, International retailing market entry methods.
  8. 8. Programme Professional Program in Business Management • Eligibility: Graduation • Duration: 2 years • More information at: www.wlcibusiness.in
  9. 9. Admission To know about WLCI admission process visit us at http://www.wlcibusiness.in/admission.html Or to apply click at : http://www.wlcibusiness.in/admission.html-0

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