Pages : 500; Paperback;
210 X 275 mm approx.
Pages : 282; Paperback;
210 X 275 mm approx, Sample Applied Theory Questions
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SUMMARY: Retailing involves selling of products/services to customers for their non-commercial individual or family use. Normally, retailing is the last stage of the distribution process. The Indian retail market has seen immense transformation in the post-liberalization era. With the vast increase in the availability of product varieties and the purchasing power of consumers, companies achieving economies of scale with superior supply chain management and a world-class customer service, the Indian retail market is witnessing tremendous growth. However, in India, the government is still protecting the retail sector and foreign direct investment is not allowed. However, once this sector opens up to foreign competition like other sectors, it will witness substantial changes and the Indian consumer will be the benefited the most. Generally retailers are classified based on ownership, the extent of product lines handled, the service vs. goods
retail strategy mix, and non-store based retailing. Retailing based on ownership is segmented into independent retailers, chain retailership, leased departments, vertical marketing units, and consumer cooperatives. Based on the extent of the product lines handled, retailers are categorized as general merchandise retailers and include specialty stores, department stores, discount stores, supermarkets and hypermarkets. Non-store retailing involves selling products in ways other than via conventional retail stores. Non-store retailing can be in the form of direct selling, direct marketing, and automatic vending.
Franchising is a contractual and legally binding agreement between a franchiser and a franchisee. A franchiser may be the owner of a trademark or a trade name, a producer of goods or a service provider and he gives the franchisee the right to do business using his trademark, trade name, product, or service. There are three major types of franchises – product distribution franchise, business format franchise, and trade name franchise. There are advantages and disadvantages of franchising for both the franchiser as well as the franchisee.
Strategic issues in retailing involve an overall set of plans that help the retailer effectively conduct his business. A retail strategy has six major elements. Situation analysis, setting objectives, identification of target markets, developing an overall strategy considering the controllable and uncontrollable variables and finally, developing suitable strategies for control by evaluating the deviations and correcting them to attain the retail organization’s objectives