Marketing Course Introduction

Course Introduction

• Course teacher: Dr. Md. Faridul Islam (Preferred name: Farid)
• Contact details: Email - [email protected]

Standing Instructions

• No student will be allowed to enter the classroom after the teacher
• No prior notice will be served for internal evaluations, which can be taken at any class
• Students should be prepared for internal evaluations in each class
• Once a student misses an exam, it will be considered missed forever, except for medical reasons with concrete evidence
• Students should come prepared to class with pen, paper, book, or other reading materials as instructed by the teacher
• Mobile phones must be switched off during class time

Course Outline

• Week 1: Introduction
• Week 2: Types and Nature of Retailers
• Week 3: Digital Retailing
• Week 4: Multichannel and Omnichannel Retailing
• Week 5: Retail Market Strategy
• Week 6: Retail Location
• Week 7: Retail Site Location
• Week 8: Information Systems and Supply Chain Management
• Week 9: Consumer Relationship Management
• Week 10: Managing the Merchandise Planning Process
• Week 11: Buying Merchandise
• Week 12: Retail Pricing
• Week 13: Retail Communication Mix
• Week 14: Human Resources and Managing the Store
• Week 15: Store Layout, Design, and Visual Merchandising
• Week 16: Customer Services

What is Retailing?

• A retailer is a business that sells products or services to consumers for their personal or family use
• Retailers aim to satisfy consumer needs by having the right merchandise, at the right price, at the right place, and at the right time
• Retailers are the final business in a distribution channel that links manufacturers to consumers

Functions of Retailers

• Providing an assortment of products and services
• Breaking bulk
• Holding inventory
• Providing services

Economic Significance of Retailing

• Retail sales affect every facet of life
• Retailing is one of the nation’s largest industries in terms of employment

Opportunities in Retailing

• Management opportunities: raising capital, purchasing goods and services, developing accounting and management information systems, etc.
• Entrepreneurial opportunities: starting new businesses

Retail Management Decision Process

• Understanding the World of Retailing: micro and macro environment
• Developing a Retail Strategy: focusing resources to accomplish objectives
• Implementing the Retail Strategy: developing a retail mix to satisfy customer needs

Retail Mix

• Types of merchandise and services offered
• Merchandise pricing
• Advertising and promotional programs
• Store design
• Merchandise display
• Assistance to customers
• Convenience of the store’s location