Fundamentals of Retail Management - MIT School of Distance Education - PowerPoint PPT Presentation

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Fundamentals of Retail Management - MIT School of Distance Education

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The process of planning, implementing, monitoring and controlling different retail activities is termed as retail management. Since the retail sector is ever-rising, so every retail firm seeks a manager who can effectively handle all the retail activities. MIT School of Distance Education (MIT-SDE) offers distance MBA-equivalent PGDM courses in Retail Management. So, if you wish to capitalize on the retail sector, then apply for the course right away. To know more information you can visit here: – PowerPoint PPT presentation

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Title: Fundamentals of Retail Management - MIT School of Distance Education


1
MIT School of Distance Education
  • Fundamentals of Retail Management

2
  • Retail entails to the process of selling goods to
    consumers in small quantities either for
    consumption or for further sale through assorted
    channels with an aim to gain high returns. The
    process of planning, implementing, monitoring and
    controlling different retail activities is termed
    as retail management. Since the retail sector is
    ever-rising, so every retail firm seeks a manager
    who can effectively handle all the retail
    activities. In such a scenario, pursuing MBA in
    retail management can promise a lucrative career.

3
  • MIT School of Distance Education (MIT-SDE) offers
    distance MBA-equivalent PGDM courses in Retail
    Management to train the aspirants and make them
    industry-ready. The institute aims at enhancing
    the employability of candidates. So, if you wish
    to capitalize on the retail sector, then apply
    for the course right away.

4
  • During the course, candidates gain knowledge
    about core concepts of retail management and its
    fundamentals. Heres a look at some of the
    fundamentals of retail management.

5
Channels of Distribution in Retailing
  • In present times, the connection between the
    consumers and the manufacturers has become
    complex than before. This is due to the
    multi-faceted channel of distribution which is
    complex because of the involvement of
    intermediaries. This leads to a hike in the value
    of goods and services until the time they reach
    the end-user in the cycle.

6
  • There are different channels of distribution.
    Some channels involve the function of both
    wholesalers and retailers, while some involve
    only retailers. Furthermore, there are certain
    goods that are transported directly from the
    manufacturer to the consumer.

7
Basics of Retailing
  • There are different ways through which retailing
    is carried out
  • Ownership
  • Merchandise

8
Ownership
  • Independent Retailers Businessmen such as
    grocers, booksellers, confectioners, etc, who
    handle their single shop/store fall under the
    category of self-regulating or independent
    retailers. Independent retailers have auxiliary
    benefits of creating their own policies and
    maintaining personal contact with the customers.
    The businesses of independent retailers can be
    carried forward by their upcoming generations.

9
  • Franchises Some businessmen open a store and
    carry their business under the name of big
    brands. This is termed asa franchisee. There are
    various stores which are undertaken by different
    franchisee following an agreement stating that
    brand will be represented by the franchiser.
    These include players like Titan, Tanishq
    Jewellers, JW Marriot, etc, whose franchises are
    spread across different regions.

10
  • Chain Stores Two or more retail stores of a
    single owner in a single region form a chain of
    stores. Chain stores keep selected merchandise in
    accordance with the customers preferences.

11
Merchandise
  • Supermarkets Supermarkets are constructed with
    the basic aim of providing high-level customer
    satisfaction along with earning marginal profits.
    The supermarkets are located in areas with large
    space and they mainly house daily household items
    such as groceries, cosmetics or toiletries. At
    supermarkets, almost 70 percent of the total area
    is reserved for daily grocery items.

12
  • Departmental Stores Departmental stores are
    retail stores offering myriads of basic and daily
    use products such as household items, food as
    well as clothing.

13
  • Catalogue Showrooms These showrooms do not have
    products on the display but are occupied with
    varied catalogues. The interested customers can
    pick a product by browsing through different
    catalogues and select a product. Then, the
    customers have to provide product code at the
    counter and the desired product would be sent to
    the customer.

14
  • Hypermarkets The retail stores which offer
    every kind of product and are have the occupancy
    for thousands of customers are termed as
    hypermarkets. Usually, malls or shopping stores
    such as big bazaar are counted under this
    category. In addition to shopping, hypermarkets
    even have spaces for coffee shops and restaurants.

15
  • THANK YOU
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