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To Amit; Amal, Bharati, and Parnali; and Trisha and Raaka

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Retail Management, eBook, Global Edition

Table of Contents

Cover

Title Page

Copyright Page

Brief Contents

Contents

Preface

PART 1 An Overview of Strategic Retail ManagementChapter 1 An Introduction to Retailing

Chapter Objectives

Overview

The Framework of Retailing

Reasons for Studying Retailing

The Special Characteristics of Retailing

The Importance of Developing and Applying a Retail Strategy

The Home Depot Corporation: Successfully Navigating the Omnichannel Landscape

The Retailing Concept

The Focus and Format of the Text

Chapter Summary

Key Terms

Questions for Discussion

Web-Based Exercise: blog (www.bermanevansretail.com)

Appendix Understanding the Recent Economic Environment in the United States and

Around the Globe

The Current Economic Situation in the United States

The Impact of the Downturn on Economies Around the World

The Effect of the Current Economic Climate on Retailing

Strategic Options for Retailers

Chapter 2 Building and Sustaining Relationships in RetailingChapter Objectives

Overview

Value and the Value Chain

Retailer Relationships

Customer Relationships

Channel Relationships

The Differences in Relationship Building Between Goods and Service Retailers

Technology and Relationships in Retailing

Electronic Banking

Customer and Supplier Interactions

Ethical Performance and Relationships in Retailing

Table of Contents

Ethics

Social Responsibility

Consumerism

Chapter Summary

Key Terms

Question for Discussion

Web-Based Exercise: Sephora (www.sephora.com)

Appendix Planning for the Unique Aspects of Service Retailing

Abilities Required to be a Successful Service Retailer

Improving the Performance of Service Retailers

The Strategy of Pal’s Sudden Service: Baldrige Award Winner

Chapter 3 Strategic Planning in RetailingChapter Objectives

Overview

Situation Analysis

Organizational Mission

Ownership and Management Alternatives

Goods/Service Category

Personal Abilities

Financial Resources

Time Demands

Objectives

Sales

Profit

Satisfaction of Publics

Image (Positioning)

Selection of Objectives

Identification of Consumer Characteristics and Needs

Overall Strategy

Controllable Variables

Uncontrollable Variables

Integrating Overall Strategy

Specific Activities

Control

Feedback

A Strategic Planning Template For Retail Management

Chapter Summary

Key Terms


Web-Based Exercise: Angie’s List (www.angieslist.com)

Appendix The Special Dimensions of Strategic Planning in a Global Retailing

Environment

Opportunities and Threats in Global Retailing

U.S. Retailers in Foreign Markets

Foreign Retailers in the U.S. Market

Table of Contents

Part 1 Short Cases

Case 1: Retailers MUST Be Future-Oriented

Case 2: Stores That Accommodate Those with Physical Limitations

Case 3: Is the Proliferation of Job Titles Helping or Hurting?

Case 4: Competition and Quick Foodservice

Part 1 Comprehensive Case

Ideas Worth Stealing

PART 2 Situation AnalysisChapter 4 Retail Institutions by Ownership

Chapter Objectives

Overview

Retail Institutions Characterized by Ownership

Independent

Chain

Franchising

Leased Department

Vertical Marketing System

Consumer Cooperative

Chapter Summary

Key Terms


Web-Based Exercise: 7-Eleven (www.franchise.7-eleven.com)

Appendix The Dynamics of Franchising

Managerial Issues in Franchising

Franchisor–Franchisee Relationships

Chapter 5 Retail Institutions by Store-Based Strategy MixChapter Objectives

Overview

Considerations in Planning a Retail Strategy Mix

The Wheel of Retailing

Scrambled Merchandising

The Retail Life Cycle

How Retail Institutions are Evolving

Mergers, Diversification, and Downsizing

Cost Containment and Value-Driven Retailing

Retail Institutions Categorized By Store-Based Strategy Mix

Food-Oriented Retailers

General Merchandise Retailers

Chapter Summary

Key Terms


Web-Based Exercise: Dillard’s (www.dillards.com)

Chapter 6 Web, Nonstore-Based, and Other Forms of Nontraditional Retailing

Table of Contents

Chapter Objectives

Overview

Direct Marketing

The Domain of Direct Marketing

The Customer Database: Key to Successful Direct Marketing

Emerging Trends

The Steps in a Direct-Marketing Strategy

Key Issues Facing Direct Marketers

Direct Selling

Vending Machines

Electronic Retailing: The Emergence of the World Wide Web

The Role of the Web

The Scope of Web Retailing

Characteristics of Web Users

Factors to Consider in Planning Whether to Have a Web Site

Mobile Apps Enabling Online Retailing

Examples of Web Retailing in Action

Other Nontraditional Forms of Retailing

Video Kiosks

Airport Retailing

Chapter Summary

Key Terms


Web-Based Exercise: “Charts & Data” section of Internet Retailer’s Web

site (www.internetretailer.com)

Appendix Omnichannel Retailing

Advantages of Omnichannel Retail Strategies

Developing a Well-Integrated Omnichannel Strategy

Special Challenges

Part 2 Short Cases

Case 1: Do Power Players Rule?

Case 2: Will the Favorites of Today Remain Popular?

Case 3: Omnichannel Strategies of Top Retailers

Case 4: Omnichannel Food Retailing Still Needs Work


What Consumers Find Expendable versus Untouchable

What Are Consumers Finding Expendable?

Ongoing Recovery

Mash-Up

Older and Wiser?

Tracking Trends

Gender Trends

PART 3 Targeting Customers and Gathering InformationChapter 7 Identifying and Understanding Consumers

Chapter Objectives

Table of Contents

Overview

Consumer Demographics and Lifestyles

Consumer Demographics

Consumer Lifestyles

Retailing Implications of Consumer Demographics and Lifestyles

Consumer Profiles

Consumer Needs and Desires

Shopping Attitudes and Behavior

Attitudes toward Shopping

Where People Shop

The Consumer Decision Process

Types of Consumer Decision Making

Impulse Purchases and Customer Loyalty

Retailer Actions

Retailers with Mass Marketing Strategies

Retailers with Concentrated Marketing Strategies

Retailers with Differentiated Marketing Strategies

Environmental Factors Affecting Consumers

Chapter Summary

Key Terms


Web-Based Exercise: Claire’s (www.claires.com) and Icing (www.icing.com)

Chapter 8 Information Gathering and Processing in Retailing Chapter Objectives

Overview

Information Flows in a Retail Distribution Channel

Avoiding Retail Strategies Based on Inadequate Information

The Retail Information System

Building and Using a Retail Information System

Database Management

Gathering Information through the UPC and EDI

The Marketing Research Process

Secondary Data

Primary Data

Chapter Summary

Key Terms


Web-Based Exercise: Coca-Cola Retailing Research Council (www.ccrrc.org)

Part 3 Short Cases

Case 1: Eating Patterns in America

Case 2: The Convenience Economy Comes of Age

Case 3: Are Hot Retailers of 2015 Still Hot?

Case 4: Navigating the Shopper Universe through Big Data


Table of Contents

How Do You Attract and Satisfy Millennials?

PART 4 Choosing a Store LocationChapter 9 Trading-Area Analysis

Chapter Objectives

Overview

The Importance of Location to a Retailer

Trading-Area Analysis

The Use of Geographic Information Systems in Trading-Area Delineation and

Analysis

The Size and Shape of Trading Areas

Delineating the Trading Area of an Existing Store

Delineating the Trading Area of a New Store

Characteristics of Trading Areas

Characteristics of the Population

The Nature of Competition and the Level of Saturation

Chapter Summary

Key Terms


Web-Based Exercise: Web site of Site Selection Online (www.siteselection.com)

Chapter 10 Site SelectionChapter Objectives

Overview

Types of Locations

The Isolated Store

The Unplanned Business District

The Planned Shopping Center

The Choice of a General Location

Location and Site Evaluation

Pedestrian Traffic

Vehicular Traffic

Parking Facilities

Transportation

Store Composition

Specific Site

Terms of Occupancy

Overall Rating

Chapter Summary

Key Terms


Web-Based Exercise: Main Street America (www.preservationnation.org/main-street)

Part 4 Short Cases

Case 1: Are Smaller and Faster Better?

Case 2: Organize, Optimize, Synchronize

Case 3: Removing Barriers to Cross-Border Commerce

Table of Contents

Case 4: Warehouse Management: Right Time, Right Place


PART 5 Managing a Retail BusinessChapter 11 Retail Organization and Human Resource Management

Chapter Objectives

Overview

Setting Up a Retail Organization

Specifying Tasks to Be Performed

Dividing Tasks among Channel Members and Customers

Grouping Tasks into Jobs

Classifying Jobs

Developing an Organization Chart

Organizational Patterns in Retailing

Organizational Arrangements Used by Small Independent Retailers

Organizational Arrangements Used by Department Stores

Organizational Arrangements Used by Chain Retailers

Organizational Arrangements Used by Diversified Retailers

Human Resource Management in Retailing

The Special Human Resource Environment of Retailing

The Human Resource Management Process in Retailing

Chapter Summary

Key Terms


Web-Based Exercise: Macy’s, Inc. has dedicated to “Careers After College”

(www.macyscollege.com)

Chapter 12 Operations Management: Financial DimensionsChapter Objectives

Overview

Profit Planning

Asset Management

The Strategic Profit Model

Other Key Business Ratios

Financial Trends in Retailing

Budgeting

Preliminary Budgeting Decisions

Ongoing Budgeting Process

Resource Allocation

The Magnitude of Various Costs

Productivity

Chapter Summary

Key Terms


Web-Based Exercise: QuickBooks (http://quickbooks.intuit.com/tutorials)

Chapter 13 Operations Management: Operational Dimensions

Table of Contents

Chapter Objectives

Overview

Operating a Retail Business

Operations Blueprint

Store Format, Size, and Space Allocation

Personnel Utilization

Store Maintenance, Energy Management, and Renovations

Inventory Management

Store Security

Insurance

Credit Management

Technology and Computerization

Outsourcing

Crisis Management

Chapter Summary

Key Terms


Web-Based Exercise: Pricer (www.pricer.com/en/Solutions)

Part 5 Short Cases

Case 1: Assistant Store Manager

Case 2: Manager, Training and Development

Case 3: Senior Manager of Digital Operations

Case 4: Retail Shrinkage: A Significant Problem


Predicting Retail Trends

Predictions of 2016 Retailing Trends

PART 6 Merchandise Management and PricingChapter 14 Developing Merchandise Plans

Chapter Objectives

Overview

Merchandising Philosophy

Buying Organization Formats and Processes

Level of Formality

Degree of Centralization

Organizational Breadth

Personnel Resources

Functions Performed

Staffing

Devising Merchandise Plans

Forecasts

Innovativeness

Assortment

Brands

Timing

Allocation

Table of Contents

Category Management

What Manufacturers Think about Retailers

What Retailers Think about Manufacturers

Merchandising Software

General Merchandise Planning Software

Forecasting Software

Innovativeness Software

Assortment and Allocation Software

Category Management Software

Chapter Summary

Key Terms


Web-Based Exercise: TXT Retail Web site

(http://-txtretail.txtgroup.com/solutions/assortment-planning-buying/)

Chapter 15 Implementing Merchandise PlansChapter Objectives

Overview

Implementing Merchandise Plans

Gathering Information

Selecting and Interacting with Merchandise Sources

Evaluating Merchandise

Negotiating the Purchase

Concluding Purchases

Receiving and Stocking Merchandise

Reordering Merchandise

Re-evaluating on a Regular Basis

Logistics

Performance Goals

Supply Chain Management

Order Processing and Fulfillment

Transportation and Warehousing

Customer Transactions and Customer Service

Inventory Management

Retailer Tasks

Inventory Levels

Merchandise Security

Reverse Logistics

Inventory Analysis

Chapter Summary

Key Terms


Web-Based Exercise: “Business” section of the U.S. Postal Service’s Web

site (www.usps.com/business)

Chapter 16 Financial Merchandise ManagementChapter Objectives

Table of Contents

Overview

Inventory Valuation: The Cost and Retail Methods of Accounting

The Cost Method

The Retail Method

Merchandise Forecasting and Budgeting: Dollar Control

Designating Control Units

Sales Forecasting

Inventory-Level Planning

Reduction Planning

Planning Purchases

Planning Profit Margins

Unit Control Systems

Physical Inventory Systems

Perpetual Inventory Systems

Unit Control Systems in Practice

Financial Inventory Control: Integrating Dollar and Unit Concepts

Stock Turnover and Gross Margin Return on Investment

When to Reorder

How Much to Reorder

Chapter Summary

• Key Terms


Web-Based Exercise: benchmarking section of the Retail Owners Institute Web site

(http://retailowner.com/Benchmarks)

Chapter 17 Pricing in RetailingChapter Objectives

Overview

External Factors Affecting a Retail Price Strategy

The Consumer and Retail Pricing

The Government and Retail Pricing

Manufacturers, Wholesalers, and Other Suppliers—and Retail Pricing

Competition and Retail Pricing

Developing a Retail Price Strategy

Retail Objectives and Pricing

Broad Price Policy

Price Strategy

Implementation of Price Strategy

Price Adjustments

Chapter Summary

Key Terms


Web-Based Exercise: Neiman Marcus (www.neimanmarcus.com)

Part 6 Short Cases

Case 1: Buyer of Sports Equipment

Case 2: Adapting to the Internet of Things (IoT)

Table of Contents

Case 3: High Marks by Suppliers and Wholesalers for Convenience Stores

Case 4: Data-Driven Pricing


Knocking Off the Knockoffs?

PART 7 Communicating with the CustomerChapter 18 Establishing and Maintaining a Retail Image

Chapter Objectives

Overview

The Significance of Retail Image

Components of a Retail Image

The Dynamics of Creating and Maintaining a Retail Image

Atmosphere

A Store-Based Retailing Perspective

A Nonstore-Based Retailing Perspective

Encouraging Customers to Spend More Time Shopping

Community Relations

Chapter Summary

Key Terms


Web-Based Exercise: Johnny Rockets (www.johnnyrockets.com)

Chapter 19 Promotional StrategyChapter Objectives

Overview

Elements of the Retail Promotional Mix

Advertising

Public Relations

Personal Selling

Sales Promotion

Planning a Retail Promotional Strategy

Determining Promotional Objectives

Establishing an Overall Promotional Budget

Selecting the Promotional Mix

Implementing the Promotional Mix

Reviewing and Revising the Promotional Plan

Chapter Summary

Key Terms


Web-Based Exercise: Web site (www.entrepreneur.com/article/241607)

Part 7 Short Cases

Case 1: Keep It Simple

Case 2: More than Price

Case 3: Enhancing the In-Store Experience through Facial Recognition Software

Case 4: Revitalizing Customer Loyalty


Table of Contents

Inside the Mind of Shake Shack’s Founder

PART 8 Putting It all TogetherChapter 20 Integrating and Controlling the Retail Strategy

Chapter Objectives

Overview

Integrating the Retail Strategy

Planning Procedures and Opportunity Analysis

Defining Productivity in a Manner Consistent with the Strategy

Performance Measures

Scenario Analysis

Control: Using the Retail Audit

Undertaking an Audit

Responding to an Audit

Possible Difficulties in Conducting a Retail Audit

Illustrations of Retail Audit Forms

Chapter Summary

Key Terms


Web-Based Exercise: American Customer Satisfaction Index (www.theacsi.org)

Part 8 Short Cases

Case 1: Envision the Future: Part 1

Case 2: Envision the Future: Part 2


Achieving Excellence in Retailing

Research Methodology

Appendix: Careers in Retailing

Glossary

Endnotes

Name Index

Subject Index

to linda; glenna, paul, danielle, sophie, and joshua;

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