Retail Product Management provides the opportunity to acquire a deeper knowledge of a key area of retailing management - managing the product range. It is an important text for anyone studying retail management or buying and merchandising as part of a degree course. Challenging, yet approachable to students, it links academic theory to the buying and merchandising roles within retail organisations, and current operational practice. It covers all retail operations which revolve around the procurement of products, including:*stock level management*allocation of outlet space for products*store design*mail order shopping*digital TV shopping.Retail Product Management also offers learning objectives, boxed features, review questions, chapter introduction and summaries, a glossary of terms and international and multi-sector case-studies from companies and brands including Boots the Chemist plc, Marks and Spencer, Reebok, Benetton, Unichem, The Body Shop and Levis.

Rosemary Varley is a senior lecturer within the Department of Management and Marketing at the Huddersfield University Business School

List of figures

xi

List of mini case studies

xv

List of boxes

xvii

List of tables

xix

Preface

xxi

Acknowledgements

xxiii

Introduction

1

(3)

Product management in a retail business

4

(15)

Introduction

4

(1)

A product defined

5

(1)

Retail product sectors

5

(1)

The role of product management in retailing

6

(1)

The strategic role of product management

7

(2)

The strategic role of the product range

9

(4)

The scope of retail product management

13

(1)

Retail product management: an evolving discipline

14

(1)

Summary

15

(2)

Review questions

17

(1)

Discussion questions

17

(1)

References and further reading

17

(2)

The decision-makers in retail product management

19

(22)

Introduction

19

(1)

Centralised retail buying organisations

20

(3)

Decentralised buying

23

(1)

Buying organisation managerial roles

23

(3)

Desirable attributes in buying and merchandising personnel

26

(2)

Additional buying decision-makers

28

(1)

The retail buying process: a traditional view

29

(3)

Buying committees

32

(3)

Limitations of the traditional buying process models

35

(1)

Buying groups

36

(1)

Consumer-led approaches to retail product management

37

(1)

Summary

38

(2)

Review questions

40

(1)

Discussion questions

40

(1)

References and further reading

40

(1)

Category management

41

(16)

Introduction

41

(1)

Efficient consumer response (ECR)

42

(3)

Category management

45

(2)

The category management process

47

(4)

Category management as an organisational concept

51

(1)

Drawbacks of category management

51

(4)

Review questions

55

(1)

Discussion questions

55

(1)

References and further reading

56

(1)

Selecting products

57

(19)

Introduction

57

(1)

Identification of product need

58

(1)

New product development

58

(1)

Product category life-cycles

58

(3)

The influence of consumer trends on the retail offer

61

(3)

Tracking product/market trends

64

(1)

The product selection process

65

(1)

Product selection criteria

66

(7)

Summary

73

(1)

Review questions

73

(1)

Discussion questions

74

(1)

References and further reading

74

(2)

Supply sources

76

(18)

Introduction

76

(1)

Types of supplier

77

(2)

The supplier search

79

(2)

The choice of supplier

81

(2)

Supplier evaluation and monitoring

83

(2)

Retail-supplier relationship development

85

(1)

The interaction approach

86

(1)

Stages of development in retailer-supplier relationships

87

(1)

Supply chain management

88

(1)

Summary

89

(3)

Review questions

92

(1)

Discussion questions

92

(1)

References and further reading

92

(2)

Product quantity decisions

94

(17)

Introduction

94

(1)

Stock control

95

(1)

Stock management for staple items

95

(5)

Service level

100

(1)

Sales forecasting

100

(5)

Sales-based ordering

105

(2)

Supplier-managed inventory

107

(1)

Promotional product planning

108

(1)

Summary

108

(2)

Review questions

110

(1)

Discussion questions

110

(1)

References and further reading

110

(1)

Product range management

111

(15)

Introduction

111

(1)

The product range

112

(1)

The merchandise budget plan

113

(5)

The assortment plan (model stock list)

118

(4)

Concessions

122

(1)

Summary

122

(1)

Exercises

123

(1)

Review questions

124

(1)

Discussion questions

124

(1)

References and further reading

124

(2)

Profitable product management

126

(13)

Introduction

126

(1)

Setting retail prices

127

(2)

The broader picture

129

(2)

Measuring product profitability

131

(2)

Negotiation

133

(1)

The impact of mark-downs

134

(2)

Legal issues

136

(1)

Shrinkage

137

(1)

Summary

137

(1)

Review questions

137

(1)

Discussion questions

137

(1)

References and further reading

138

(1)

Allocating space to products

139

(16)

Introduction

139

(1)

The objectives of space allocation

140

(1)

Measuring retail performance in relation to space

141

(1)

The value of retail space

142

(2)

Allocating space on the basis of sales

144

(1)

Space elasticity

144

(2)

Allocating space according to product profitability

146

(1)

Practical and customer considerations

147

(2)

Space allocation systems

149

(1)

Store grading

149

(2)

Summary

151

(2)

Review questions

153

(1)

Discussion questions

154

(1)

References and further reading

154

(1)

Store design

155

(16)

Introduction

155

(1)

The interior decoration of a store

156

(1)

Materials

156

(2)

Atmospherics

158

(1)

Lighting

159

(1)

Signage

160

(1)

Store design and the corporate image

161

(1)

The exterior design

161

(3)

Location

164

(1)

Store image

165

(1)

The retail brand

166

(1)

Lifestyle retailing

166

(1)

Planning retail designs

166

(1)

Flagship stores

167

(1)

The strategic role of store design

167

(1)

Summary

168

(1)

Review questions

169

(1)

Discussion questions

170

(1)

References and further reading

170

(1)

Visual merchandising

171

(20)

Introduction

171

(1)

Visual merchandising

171

(3)

The scope of visual merchandising

174

(1)

Fixtures and fittings

174

(5)

Product presentation

179

(1)

Store layout

180

(3)

Displays

183

(5)

Summary

188

(1)

Review questions

189

(1)

Discussion questions and learning activities

190

(1)

References and further reading

190

(1)

Product management in non-store retailing

191

(14)

Introduction

191

(1)

Non-store retail formats

191

(1)

Home shopping

192

(1)

Product management implications

193

(1)

Product presentation

193

(2)

The selling environment

195

(1)

Pricing

195

(1)

Service

196

(1)

Convenience

197

(1)

Order fulfilment and delivery

197

(3)

Multi-channel retailing

200

(2)

Summary

202

(1)

Review questions

203

(1)

Discussion questions

203

(1)

References and further reading

203

(2)

International aspects of retail product management

205

(11)

Introduction

205

(1)

International retailing as a strategy

206

(1)

Product range: standardise or adapt?

206

(1)

The influences on different product strategies

207

(1)

Unavoidable adaptations

207

(1)

Organisation for product management

208

(1)

Local sourcing

209

(1)

Global sourcing

209

(3)

Ethical sourcing

212

(1)

Summary

213

(1)

Review questions

214

(1)

Discussion questions

214

(1)

References and further reading

214

(2)

Appendix 1 A case study of buying operations at Boots the Chemist

216

(10)

Appendix 2 A case study of the Olympic Museum shop

226

(8)

Appendix 3 A case study of New Look

234

(7)

Index

241

What is included with this book?

The New copy of this book will include any supplemental materials advertised. Please check the title of the book to determine if it should include any access cards, study guides, lab manuals, CDs, etc.

The Used, Rental and eBook copies of this book are not guaranteed to include any supplemental materials. Typically, only the book itself is included. This is true even if the title states it includes any access cards, study guides, lab manuals, CDs, etc.

Amazon no longer offers textbook rentals. We do!

Amazon no longer offers textbook rentals. We do!

We're the #1 textbook rental company. Let us show you why.

Retail Product Management : Buying and Merchandising

9780415216067

0415216060

Supplemental Materials

Summary

Author Biography

Table of Contents

Supplemental Materials

Rewards Program