The word ‘Retailing’ is derived from the French verb ‘retailer’, which means, "to cut a piece off.” From a marketers point of view, retailing is defined as a set of marketing activities that are designed to provide satisfaction to the end consumer.
At the end of this course, the participants will be able to:
Analyze store operations, supervise employees, and manage inventory.
Understand customer behavior in a retail environment.
Develop successful sales plans to grow store profitability.
Produce a positive shopping experience.
Use proper merchandising and promotional strategies to improve sales performance and customer loyalty.
Senior retail managers who want to discover the various traits of successful retail management through actual case studies and industry best practices that showcase the required skills and strategies.
Retailing Defined
Today’s Retail Environment
The Pillars of Retail (7Ps) and Related Metrics
Retailing and Marketing Channels
Retail Competitive Strategies
The 5 Dimensions of a Retail Strategy
The EST Model: Achieving Strategic Positioning
Assessing Strengths and Weaknesses for Better Positioning
Retail Leadership Guidelines
The Components of Retail Business Intelligence
Business Intelligence and Retail Operations
Critical Performance Questions
What to Measure and When?
15 Key Retail Metrics
The Strategic Profit Model (DuPont Analysis)
Computing the Store’s Return on Net Worth
The New Role of the Retail Sales Associates
Relationship Selling and Retailing
The Retail Sales Management Process
Hire
Train
Set Goals and Objectives
Define and Measure Metrics
Motivate
Performance Evaluation
Rewards and Incentives
The Critical Components of Retail Performance
Improve the Quality of Leadership
Instill a High-Performance Culture
Develop and Implement HR Programs and Processes
Evaluating Individual Performance Levels
Developing Balanced Scorecards (Store and Retail Sales Associates)
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