The retail industry - namely, the business activity of selling goods or services to the final consumer - is an important element of most developed economies, and employs significant numbers of people. Indeed, the power and influence of major retailers now greatly exceeds that of many manufacturers. The key aim of this module is to provide students with an appreciation and understanding of the functions and challenges inherent in the management of retail organisations, including the management of a large assortment of products/services, the complexities and risks of selecting new locations and managing a store network, and managing a constant and direct interface with customers.
Students completing the module successfully should:
(note: for accreditation and other reasons, sub-headings could be added apart from the items below by departments)
A Understand the role of retailing in developed economies, and define the structure and key characteristics of the retail industry.
B Evaluate and apply consumer behaviour theory to the choice of stores and goods/services by consumers, and to the choice of suppliers and merchandise by retail buyers.
C Evaluate appropriate frameworks for the strategic planning and implementation of retail activities.
D Evaluate and apply the evaluative criteria underpinning decisions relating to the location and management of a store network.
E Understand the nature and range of management decisions taken in the management of the retail marketing mix.
The module involves a range of teaching strategies including lectures, student-led seminars and case studies. Additional material will be in the form of web-based reading and research, selected texts, journal articles and contemporary press and magazine articles. Independent research and study will be encouraged to complement group work activities. Student-led seminars will facilitate the sharing of knowledge and experiences of cohort members.