Lahore University of Management Sciences MKTG 222 Retail Management

Spring 2013
Instructor Room No. Office Hours Email Telephone Secretary/TA TA Office Hours Course URL (if any) Moeen Naseer Butt 179, Small and Medium Enterprise Center, Academic Block Tuesday & Thursday (3.00 pm-4.00 pm) moeen.naseer@lums.edu.pk 042-3560-8044

Course Basics Credit Hours Lecture(s) Recitation/Lab (per week) Tutorial (per week) Course Distribution Core Elective Open for Student Category Close for Student Category Course Description

4 Nbr of Lec(s) Per Week Nbr of Lec(s) Per Week Nbr of Lec(s) Per Week

2 N/A N/A

Duration Duration Duration

1 hour 50 minutes each N/A N/A

Yes Seniors, Juniors, Sophomores All freshmen

Retailing is a part of place/distribution section of overall Marketing process which involves activities related to selling to end customers. Retail Management is one of the key marketing specialization subjects which aims at providing a clear understanding of retailing and marketing strategies applicable at the retail level. The subject is in high demand due to growing retail industry in Pakistan as global retail giants have started entering the market, therefore Retailing offers one of the best career opportunities for todays graduates and knowledge of this field carries huge importance and provide them a competitive advantage.

Course Prerequisite(s) Principles of Marketing (MKTG201) or Brand Management (MKTG392)

Course Objectives & Learning Outcomes A) B) C) D) E) F) G) H) Explore the field of Retailing; establishing and maintaining retailer relationships with other channel members and customers, and the basic principles involved in planning and decisions made in owning or managing a retail business. Understand the organizational missions, ownership, goods/service categories, and objectives of a broad range of retail institutions and to develop the retail strategies accordingly. Gain an understanding of various key concepts for retailers to better identify and understand consumers and develop an appropriate target market plan. Understand and apply overall retail strategy including choosing a store location, managing a business, merchandise management and pricing, and communicating with the customers. Connect/integrate the elements of an overall retail strategy and its monitoring/controlling.

Grading Breakup and Policy

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Course Project (Team Based): 20 Quiz(s): 10 Class Participation: 10 Case Presentation: 5 Attendance: 5 Midterm Examination: 20 Final Examination: 30

Examination Detail Yes/No: Yes Combined/Separate: Combined Duration: 60 minutes Preferred Date: Mid March 2013 Exam Specifications: Objective + Subjective

Midterm Exam

Final Exam

Yes/No: Yes Combined/Separate: Combined Duration: 120 minutes Exam Specifications: Objective + Subjective

Teaching Methodology The course utilizes a mixture of interactive lecture (lecture slides, videos), class participation, and team activities. The students will form teams and will stay in the same team throughout the semester. The students will be given prior information regarding the topics to be discussed in the next session as well as the team activities to be performed so that they come prepared. Students will receive feedback of all activities on fortnightly basis. Guest Speakers from local retail chains will be invited.

Course Project The Retail Start-up Challenge (RSC) The course project (RSC) experientially integrates the material presented in lectures and activities. It involves starting up a new and innovative retail business. The project will start in Week 3, the project proposal presentations will be conducted in Week 5. The final project presentations will take place, while final project presentations will take place in last week of the semester. Each team will choose a new retail concept and will get it approved from the instructor in Week 3. The team will then prepare a proposal presentation and present in class in Week 5. The Retail Start-up Challenge (RSC) will comprise the following parts. 1) Name of Retail Business 2) Retail Concept/Type 3) Retail Location 4) Target Customers 5) Competitors 5) Conceptual Store Design (Interior, Exterior) 6) Marketing Plan (Merchandise, Price, Promotion Strategies) 7) Pro forma Financials

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RSC Deliverables RSC Presentation (20 minutes including Q&A session) RSC Report as per APA/MLA style guidelines

Course Overview Week# Topics Part-1 (Introduction) Introduction to Class Course Outline Introduction to Retaining Building Relationships in Retaining Recommended Readings/Activities Chapter-1, 2 (Text) Objectives/ Application A)

Part-1 (Introduction) 2 Strategic Planning in Retailing

Chapter-3, 4 (Text)

B)

Part-2 (Retail Types) Retail Store Types by Ownership Chapter-5, 6 (Text) C)

Part-2 (Retail Types) Retail Store Types by Strategy Non-Store/Non-Traditional Retailing Part-3 (Targeting Customers)

Case Study

Chapter-7 (Text)

A)

Identifying Consumers Information Gathering and Processing in Retailing Chapter-8 (Text) Case Study Chapter-9 (Text) D D

Part-3 (Targeting Customers) 5 Information Gathering and Processing in Retailing

Part-4 (Choosing a Store Location) 6 Trading-Area Analysis

Part-4 (Choosing a Store Location) 7 8 Site Selection Mid Term Exam

Chapter-10 (Text) Case Study

D)

Part-6 (Merchandise Management and Pricing) 8 Developing Merchandise Plans

Chapter-14 (Text)

E)

Part-6 (Merchandise Management and Pricing) 9 10 11 Pricing in Retailing

Chapter-17 (Text) Case Study Chapter-18 (Text) Chapter-19 (Text)

E)

Part-7 (Communicating) Establishing a Retail Image Part-7 (Communicating)

F) F)

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Promotional Strategy Case Study Part-8 (Managing A Retail Business) 12 13 14 Retail and HRM Financial Dimensions Guest Speaker Session The Retail Set-up Challenge (RSC) Presentations Final Exam Chapter-11(Text) G)

Case Study

G) H)

Textbook(s)/Supplementary Readings Text Retail Management, Barry Berman, Joel Evans, 10 Edition, Pearson
th

Short Cases and Readings