The Lee Kong Chian School of Business Academic Year 2014/15 Term 2

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1 The Lee Kong Chian School of Business Academic Year 2014/15 Term 2 MKTG219 RETAIL MANAGEMENT Instructor Name : Geoffrey da Silva Title : Lecturer of Marketing Tel : gdasilva@smu.edu.sg Office : LKCSB 5069 COURSE DESCRIPTION The world of retailing is a complex and exciting one, in which students have always played a part as shoppers. In this course, students get a chance to learn what lies on the other side, as we uncover the challenges and global trends in the industry, as well as tricks-of-the-trade of the retail seller. Students can look forward to learning store and non-store retailing, location and site selection, merchandising, pricing and margin planning, store management, layout and visual merchandising, as well as internal and external promotions. Students will also get an opportunity to apply their learning in the end-of-term project which allows them to propose a novel retail concept. LEARNING OBJECTIVES By the end of this course, students will be able to: Explain retail marketing concepts covering both the mechanics and management of retailing Learn how to apply relevant retail marketing concepts for prospective future entrepreneurial retail business start-up ventures Apply marketing principles in a retail context Evaluate existing retail formats PRE-REQUISITE/ CO-REQUISITE/ MUTUALLY EXCLUSIVE COURSE(S) Please refer to the Course Catalogue on OASIS for the most updated list of pre-requisites / co-requisites for this particular course. Do note that if this course has a co-requisite, it means that the course has to be taken together with another course. Dropping one course during BOSS bidding would result in both courses being dropped at the same time. ASSESSMENT METHODS Class Participation: 10 % (Throughout the term) Mid-term Test: 20 % (Week 7) Group Project Presentation and Report: 35 % (Weeks 12 and 13) Final examination: 35 % (Week 15) Total: 100% ACADEMIC INTEGRITY All acts of academic dishonesty (including, but not limited to, plagiarism, cheating, fabrication, facilitation of acts of academic dishonesty by others, unauthorized possession of exam questions, or tampering with the academic work of other students) are serious offences. Geoffrey da Silva AY 2104/15 Term 1 Retail Management (MKTG 219) 1

2 All work (whether oral or written) submitted for purposes of assessment must be the student s own work. Penalties for violation of the policy range from zero marks for the component assessment to expulsion, depending on the nature of the offence. When in doubt, students should consult the course instructor. Details on the smu code of academic integrity may be accessed at INSTRUCTIONAL METHODS AND EXPECTATIONS The course will be taught in the format of class discussions accompanied by lectures. There will be a number of case studies and exercises that will form the basis of discussion in the class. There will be three key activities that the students will engage in during the course: 1. Class Participation This class is meant to be a forum for discussion and exchange of ideas. Hence, your participation in the class is vital. Here, participation means the ability to (i) critically evaluate the readings, (ii) be well prepared for cases, (iii) share your thoughts and raise questions about the course material, and (iv) maintain decorum in the class. 2. Group Project The objective of this group project is to encourage application of good research and analysis into the retail operations of a local or international retailer or retail organization group. The selection of the retail brand will be left to the group but will be in consultation with the instructor towards final approval. A separate briefing document will be distributed in class on the first day of meeting. Essentially this group project will involve your team operating as retail consultants invited to do an indepth retail audit of the effectiveness of retailing strategy and to evaluate different aspects of the retailing marketing mix. The report will culminate with the presentation of a good set of viable recommendations that the team feels the company should consider as part of its future strategy going forward. The key areas of the group project will cover: o The nature of retailing operations and retail formats o Analysis of retail shopper motivations and behaviors o Major external environmental and competitive factors impacting on future viability of retailing operations o Evaluation of the retailing marketing mix o Identification of key gaps in retailing operations and recommendations for possible changes in retail marketing strategies 3. Mid-Term Test and Final Exam The mid-term test will be a one hour closed-book assessment comprising multiple choice questions (MCQ) and short answer questions covering the first five sessions. The final examination will comprise three parts MCQ, a case study and short essay questions. RECOMMENDED TEXT AND READINGS Michael Levy, Barton A.Weitz and Dhruv Grewal Retailing Management, 9 th Edition McGraw-Hill, 2014 Additional readings will be assigned. Students are also expected to keep abreast of current developments in the retailing sector from sources such as the Journal of Retailing and leading business dailies/weeklies like the Asian Wall Street Journal, Business Times and Business Week. Geoffrey da Silva AY 2104/15 Term 1 Retail Management (MKTG 219) 2

3 CLASS SCHEDULE Week Topic/s Text Chapter Reference 1 This first session will involve the overview of the course and learning outcomes, introductions, discussing course-work, and addressing queries about the course outline. Overview of the scope of retail management. Focus of issues to be studied in MKTG This session covers the topic of Types of Retailers Retail formats and implications for retail marketing Mall management and special issues for mall owners/operators 3 The focus of this session will be to cover the key elements of Retail Strategy and the impact of Globalization on Retailing Students need to appreciate the foundations of a retail strategy whether it is for a small niche retailer or a large chain and then be able to identify the sources of competitive advantages that underpin the retailer s strategies. Comparisons are made between the key success factors and core competencies of retailers; case examples will be discussed. 4 This session covers the issue of Consumer Behavior as related specifically to the retailing context. Students need to identify the key behavioral influences on retail shopping behaviors both in the store and virtual environments. Tasks/Activities (*) 1 To understand the scope of undertaking this course on RM. Group formation for project. Review of the Group Project Guidelines. 2 To start to select target company for group project and using the classification to identify the specific issues and challenges facing different types of retailers. 5 Identify and better understand differences in retailing formats across developed and developing countries. Comparisons are made on the success factors in retail penetration in Asian markets by global retailers and how local market conditions impact retail strategies. Case studies on retail strategy and global retailing (to be posted on e-learn) 4 Case study on retail shopping experience : Build-a-Bear 5 The focus on this session is on the impact of the internet and mobile communication on retail marketing. To discuss the primary and supporting roles of online medium in retailing within the context of brick versus click retailers. Linking this topic to Week 3 topic, students need to appreciate the growing influence of non-store buying across a wide range of product and 3 To explore the role of multi-channel especially the internet for the group project company-examine what kind of impact it has on the retail strategy of the retailer. Geoffrey da Silva AY 2104/15 Term 1 Retail Management (MKTG 219) 3

4 service categories and the reasons supporting such behavior 6 This session covers the two topics on the Retail Product/Merchandise and the Store Layout/Visual Merchandising. Product merchandise is a core topic on retail marketing strategy and students need to examine the nature of the merchandise mix within the context of their project case company and how these are impacted by target market and store positioning decisions. In addition to decisions on what product lines to carry and retail band strategies. We then cover the associated decisions related to the presentation of such merchandise. This is where the store layout and visual merchandising techniques are used to stimulate and impact on in-store buying behaviors. Case study on internet retailing (to be posted on e-learn) 12 and 17 To discuss the topic on The Mustafa Mall in Singapore the art and science of managing a mountain of merchandise. To examine different examples of store layouts and its impact on merchandise strategies and shopper responses. 7 Mid-term Test (1 hour); topics tested will cover weeks 1-4. Remaining period in class for students to share progress on the drafts of group project with instructor. Feedback will be given to help align to the group project objectives. 8 Mid-Term Break 9 The focus of this week will be on Retail Location decisions. To evaluate the different factors that impact a retailer s decision to locate in specific locations. There is also a review and critique of some of the contemporary models of retail location analysis. Decision criteria on attractive retail site locations will be discussed. 10 This session will cover the topic of Marketing Communications in the retailing context. Special issues include the development of the retailer brand image, collaboration with manufacturer promotion strategies and the use of specific promotional tools by the retailer. 11 The focus of this session will be on Retail Pricing. To review and evaluate the effectiveness of different strategies and tactics of retailers. 7 and 8 In class exercise on evaluating factors for store location decisions. 15 An exercise will be done in class to get student groups to study advertising campaigns in the local press to identify and evaluate competitors weekend advertising and promotions programs in different retail sectors. 14 Group discussion will continue on the exercise activity from the previous week (comparative promotion campaigns by retailers in weekend dailies) and this time focus on the pricing tactics used by those retailers. Geoffrey da Silva AY 2104/15 Term 1 Retail Management (MKTG 219) 4

5 12 The topic will focus on customer relationship management and customer service. These topics emphasize the service dimension of retailing and how retailing staff create the competitive edge in enhancing the customer encounter and engagement. Group Presentations (part one first 4 groups) 13 Group Presentations (part two next 3 groups) Pre-Exam Revision 11 and 18 Discuss the case study on Bumrungrad Hospital Bangkok what retailers can learn from patient-centered customer service. Overview of the lecture notes and text chapters 14 Study Week. Consultation with lecturer on pre-exam preparation. 15 FINAL EXAMINATIONS (*) Please note that in addition to the lecture notes that will posted progressively on e-learn portal, the instructor will also post additional study notes, case studies and other exercises that will be of relevance to the specific topics. The student is advised to regularly check up on such new postings when they become available. Geoffrey da Silva AY 2104/15 Term 1 Retail Management (MKTG 219) 5