Retail Management : A Strategic Approach

by Berman, Barry; Evans, Joel R.

• ISBN13: 9780131009448
• ISBN10: 0131009443
• Edition: 9th
• Format: Hardcover
• Copyright: 2004-01-01
• Publisher: PRENTICE HALL

Summary

This best seller provides a balance between theory and practice, useful career information, and a comprehensive package of ancillaries. It takes a strategic approach to decision making. The volume provides an overview of strategic retail management, and provides a careful examination of situation analysis, targeting customers and gathering information, choosing a store location, managing a retail business, merchandise management and pricing, communicating with the customer and integrating and controlling the retail strategy. For retail training directors.

Table of Contents

An Overview Of Strategic Retail Management

An Introduction to Retailing

Building and Sustaining Relationships in Retailing

Strategic Planning in Retailing

Situation Analysis

Retail Institutions By Ownership

Retail Institutions By Store Based Strategy Mix

Web, Nonstore-Based and Other Forms of Nontraditional Retailing

Targeting Customers And Gathering Information

Identifying and Understanding Consumers

Information Gathering and Processing in Retailing

Choosing A Store Location

Trading-Area Analysis

Site Selection

Managing A Retail Business

Retail Organization and Human Resource Management

Operations Management: Financial Dimensions

Operations Management: Operational Dimensions

Merchandise Management And Pricing

Developing Merchandise Plans

Implementing Merchandise Plans

Financial Merchandise Management

Pricing in Retailing

Communicating With The Customer

Establishing and Maintaining a Retail Image

Promotional Strategy

Putting It All Together

Integrating and Controlling the Retail Strategy

Careers in Retailing

About the Website that Accompanies Retail Management

Glossary

Table of Contents provided by Publisher. All Rights Reserved.

Excerpts

As we move further into the new millennium, we are delighted by the continuing positive response to our book as evidenced by adoptions at hundreds of colleges and universities around the world. In this edition, we have raised the bar higher for ourselves--in a way that we hope you find rewarding. Our goal is to seamlessly meld the traditional framework of retailing with the realities of the competitive environment and the emergence of high-tech as a backbone for retailing. We have worked hard to produce a cutting-edge text, while retaining the coverage and features most desired by professors and students, and reducing the length of prior editions. We have spent many hours eliminating the "middle age spread" that occurs in books, without eliminating any important content or examples. The concepts of a strategic approach and a retail strategy remain our cornerstones. With a strategic approach, the fundamental principle is that the retailer has to plan for and adapt to a complex, changing environment. Both opportunities and constraints must be considered. A retail strategy is the overall plan or framework of action that guides a retailer. Ideally, it will be at least one year in duration and outline the mission, goals, consumer market, overall and specific activities, and control mechanisms of the retailer. Without a pre-defined and well-integrated strategy, the firm may flounder and be unable to cope with the environment that surrounds it. Through our text, we want the reader to become a good retail planner and decision maker, and to be able to adapt to change. Retail Managementis designed as a one-semester text for students of retailing or retail management. In many cases, such students will have already been exposed to marketing principles. We believe retailing should be viewed as one form of marketing and not distinct from it. BUILDING ON THE E-VOLUTION OFRETAIL MANAGEMENT: A STRATEGIC APPROACH As Bob Dylan once said, "The times, they are a changing:" What does this all mean? The "E" word--electronic--now permeates our lives. From a consumer perspective, gone are the old Smith-Corona typewriters, replaced by word processing software on PCs. Snail mail is giving way to E-mail. Looking for a new music CD? Well, we can go to the store--or we can order it from CDNow (www.cdnow.com) or Amazon.com (www.amazon.com) or maybe even download some tracks as we create our own CDs. Are you doing research? Then hop on the Internet express and have access to-millions of facts at your fingertips. The Web is a 24/7/365 medium that is transforming and will continue to transform our behavior. From a retailer perspective, we see four formats--all covered inRetail Management--competing in the new millennium (cited in descending order of importance): Combined "bricks-and-mortar" and "clicks-and-mortar" retailers.These are store-based retailers that also offer Web shopping, thus providing customers the ultimate in choice and convenience. Over 90 percent of the world's largest retailers, as well as many medium and small firms, fall into this category or will shortly. This is clearly the fast-growing format in retailing, exemplified by such different firms as Barnes & Noble (www.barnesandnoble.com), Costco (www.costco.com), and Target (www.target.com). Clicks-and-mortar retailers.These are the new breed of Web-only retailers that have emerged in recent years, led by Amazon.com. Rather than utilize their own physical store facilities, these companies promote a "virtual" shopping experience: wide selections, low prices, and convenience. Among the firms in this category are Priceline (www.priceline.com)--the discount airfare, hotel, and more retailer, and toy retailer, eToys (www.etoys.com). Direct marketers with clicks-and-mortar retailing op