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CIPS Professional Stage - Elective Subjects
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AIM
To
examine elements of retail management, and to provide those involved with an
Retail Environment
Understanding the evolution and development of the retail marketing function -
influences and concepts.
Retail organisations: types, structure and development.
Retail trends: store and non-store retailing, international retailing, IT
developments.
Retail environment: macro and micro factors and their dynamics.
Distribution channels: retail roles and functions, channel leadership, supply
chain networks.
Retailer as a brand.
Retail
Marketing Strategy
Retail corporate plan, corporate and marketing objectives - importance of
merchandise.
Marketing audit - nature and purpose, strategic planning.
Retail strategic frameworks: product/market, competitive advantage.
Assessment of retail strategic alternatives - diversification/specialisation,
acquisition/ merger/growth, partnerships/concessions/joint ventures.
Retail unit location and site analysis.
The marketing research processes - retail perspective.
Consumer buyer behaviour - its nature and importance.
Segmentation and targeting of retail markets.
Application of Marketing Research to the determination of merchandise selection,
ranges and model stock plans.
Application of Information Technology to marketing research processes and practices.
Merchandise
Management
Relationship between merchandise and accounting functions - costs and
profitability.
Setting merchandise budgets and plans - considerations and methods.
Definition and assessment of control techniques: break-even analysis, EOQ,
re-order levels, JIT, cyclical provision, stock control procedures, rate of
stock-turn, DPP.
Appraisal of stockholding methods and stock-taking methods - analysis and
control of stock loss.
Principles of stock presentation - product positioning, space management.
Application of Information Technology to merchandise management.
Control and evaluation of branches, departments - profitability. Assessment and
Selection of Suppliers, Merchandise and Location
Evaluation and selection of distribution channels; supply chain management;
negotiation considerations.
Selection of suppliers - methods and considerations.
Selection of merchandise, determination of order quantity - influences and
considerations.
Application of Information Technology to the selection and ordering processes.
Own brand merchandise - strategies and considerations.
Retail
Marketing Mix
Retail mix/es - understanding the concept and the selection of the elements.
Targeting and positioning strategies - their importance, the processes,
positioning maps, competitive front.
Corporate and store image: factors in determination; perceived and projected
image; measurement and evaluation.
Retail pricing - dimensions, objectives, application.
Retail promotional mix - objectives, elements - selection, application and
evaluation of methods.
Retail service - purpose, selection of provisions/s, evaluation.
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