Micro Lesson Plan - Retail Management

 

ANDHRA LOYOLA INSTITUTE OF ENGINEERING AND TECHNOLOGY

Department: MBA                Subject: RETAIL MANAGEMENT          Year/Semester: II Year /III Semester            Elective: Marketing

Teacher : LAVANYA P B                 

                                                         Academic Year:  2020-21

           

Course Objectives:

CO 1	To make student understand evolution of Retailing management, decision making process, Indian Vs global retailing
CO 2	To make student analyze STP model of retailing, evaluating store and location and develop a strategy for retailer
CO 3	To make student understand various formats of retail, analyze retail marketing strategies, pricing strategies and make them create new strategies
CO 4	To make student understand CRM and IMC or retail marketing, analyze CRM and IMC and develop new strategies
CO 5	To make student understand globalization of retailing and various entry modes.

Course Outcomes:

Factual	§  Students will be able to understand evolution of retailing. They will be able to tell definitions, meanings, elements and various terms used in retailing management.
Conceptual	§  Students will exhibit a clear understanding of various marketing concepts, tools, techniques and strategies used by retailers serving their customers.
Procedural	§  Students will be able to put across capability of making their own decisions in retail marketing space with case studies, management games and mind mapping exercises.
Applied	§  Students will be able to analyze and evaluate critically real life company situations and develop solutions for retailers.

Text book References:

Text book -1: Arif Sheikh and Kaneez Fatima, “Retail Management”, Himalaya Publishing House, Mumbai, 2014 .

Text book-2: Chetan Bajaj, Rajnish Tuli and Nidhi Varma Srivasstava, “Retail Management”, Oxford Higher Education, 2017.

Text book-3:  Swapna Pradhan, “ Retailing Management”, Tata  Mc Graw Hills, 2013.

Text book-4: Michael Levy, Barton A Weitz and Ajay Pandit, “Retailing Management” 6/e, The Tata McGraw Hill Companies, 2008

E source: 1. Michael Levy, Barton A Weitz and Ajay Pandit, “Retailing Management” 10/e, The Tata McGraw Hill Companies

                  2. https://www.theretailingmanagement.com/?cat=22 for case studies and videos

 Contents/Activities:

1	Factual:	·         Evolution of retailing (Unit – 1) ·         Structure of retailing (Unit – 1) ·         Elements of retailing decision making process (Unit – 1) ·         Retail Market segmentation (Unit – 2) ·         Targeting (Unit – 2) ·         Positioning (Unit – 2) ·         Elements of Marketing Mix (Unit – 2) ·         Store Location and Layout (Unit – 2) ·         Formats of Retailing (Unit – 3) ·         Meaning of Competitive advantage  (Unit – 3) ·         Meaning of pricing and its elements (Unit – 3) ·         Meaning of Customer Relationship management (Unit – 4) ·         Meaning of Communication and its elements (Unit – 4) ·         Meaning of Integrated marketing communication mix (Unit – 4) ·         Meaning of Internationalization of retailing (Unit – 5)
2	Conceptual:	·         Economic Significance of Retailing (Unit – 1) ·         Retailing Management decision making process (Unit – 1) ·         Product Vs Service Retailing (Unit – 1) ·         Retailing scenario India Vs global (Unit – 1) ·         Market Segmentation process (Unit – 2) ·         Targeting the market and its decisions (Unit – 2) ·         Positioning for retailers and concepts of positioning (Unit – 2) ·         Store location decision making process and factors  (Unit – 2) ·         Various formats of Retail (Unit – 3) ·         Retail Planning process (Unit – 3) ·         Building sustainable competitive advantage (Unit – 3) ·         Gauging growth opportunities, retailer strategies (Unit – 3) ·         Decision making process for pricing, factors and strategies (Unit – 3) ·         Customer Relationship Management process, strategies (Unit – 4) ·         CRM and loyalty program for retailers (Unit – 4) ·         Retail marketing communication process, IMC mix and tools (Unit – 4) ·         Factors influencing use of sales promotions (Unit – 4) ·         Globalization of retailing, reasons and benefits (Unit – 5) ·         Market entry methods (Unit – 5)
3	Procedural:	·         Retaliating environment scanning for decision making (Unit – 1) ·         STP Model (Unit – 2) ·         Retailing strategy analysis for store location and layout (Unit – 2) ·         Assessment of competitive advantage of a retailer (Unit – 3) ·         Assessing sustainable retail strategies (Unit – 3) ·         Pricing strategy evaluation of a retailer (Unit – 3) ·         CRM strategy evaluation of a retailer (Unit – 4) ·         IMC strategy evaluation of a retailer (Unit – 4) ·         SWOT of Retailer in international market (Unit – 5)
4	Applied:	·         Creation of STP for retailers (Unit – 2) ·         Development of suitable location and layout decision (Unit – 2) ·         Development of marketing strategies for retailers in business growth and sustainability (Unit – 3) ·         Policy formulation for pricing (Unit – 3) ·         Analyze CRM of retailers (Unit – 4) ·         Can create and run successful promotional campaign (Unit – 4) ·         Can create a IMC basic module for small retailers using basic tools (Unit – 4) ·         Case study analysis (Unit- I to Unit-V) ·         Mini Reports and Presentations (Unit- I to Unit-V)

 

Schedule and Sequence:

 

Day	Topic	Objectives	Before Class-Videos, e-Books, Case Studies	In-Class-Activities, Quiz	Post-Class-Assignment, Discussion Forum
1	Unit –I Introduction to retailing	·    To understand evolution of retailing ·    To know the process of decision making in retail management and environmental factors analysis ·    To know the difference between Product retailing and Service Retailing ·    To understand retailing in Indian Vs global Scenario	Quiz on fundamental knowledge about marketing TB  - 2 pages -1-3 https://www.youtube.com/watch?v=t49JkakYAoE Handout	· Introductory video discussion – 15 minutes · Lecture on Introduction to retailing using PPT-30 minutes · Doubt clarification -  minutes	Discussion forum
2	Definition and nature of retailing		TB  - 1 pages -3-4 Handout	· Lecture on definition and nature of retailing using PPT – 40 minutes · Discussion on retailing case – 15 minutes	Poll on introduction and discussion forum
3	Retailers in Distribution and structure of retailing in India		TB  - 1 pages -5-6 Handout TB – 2 pages – 4-6	·  Lecture on Retailers in distribution and structure of retailing in India using PPT- 40 minutes ·  Examples of retailers in organized and unorganized retail by students – 15 minutes	Discussion forum on retailing structure
4	Economic Significance of Retailing		https://www.ibef.org/industry/retail-india.aspx#:~:text=Retail%20industry%20reached%20US%24%20950,US%24%2060%20billion%20by%202020. TB – 2 pages- 3-4	·  Lecture on Economic significance of retailing to India -25 minutes ·  Discussion on IBEF report – 30 minutes ·  Doubts clarification – 5 minutes	Quiz on Economic significance of retailing Discussion forum
5	Characteristics of Retailing		TB – 2 pages 7-8 Handout	·  Lecture on characteristics of retailing -30 minutes ·  Presentation by students in retail companies in India -20 minutes	Assignment: Collection and submission of one retail company operating in India
6	Importance of retailing to consumers, manufacturers and wholesalers		TB – 1 page6  Hand out	·   Lecture on importance of retailing to consumers, manufactures and wholesalers using PPT – 40 minutes ·   Poll – 5 minutes ·   Doubts clarification basing on poll response – 5 minutes	Discussion forum and mind mapping of retail stores
7	Scope and functions of retailing		TB – 1 pages 7-10 TB -2 pages 8-9	·   Lecture on scope and functions of retailing – 45 minutes ·   Discussion and doubts clarification  - 10 minutes	Discussion forum
8	Retailing decision making process		TB – 4 pages 15- 22 Handouts	·  Lecture on retailing decision making process – 45 minutes ·  Discussion on the topic and doubts clarification – 10 minutes	Quiz and discussion forum
9	Product Vs Service retailing, Introduction to Retailing Environment		TB – 1 pages 26-27 TB – 1 pages 32-33 Hand out	·  Lecture on Comparison of product and service retailing and introduction to retailing environment using PPT – 45 minutes ·  Examples of service product retailing with company examples by students basing on characteristics – 15 minutes	Poll and Discussion forum
10	Macro Environment factors		TB – 1 pages 32-33 Hand out	·  Lecture on Macro retailing environment using PPT – 45 minutes ·  Group discussion on macro factors influencing retailer decision making -10 minutes	Quiz and discussion forum
11	Macro and Micro Environment factors		TB – 1 pages 32-33 Hand out	·  Lecture on Macro and retailing environment using PPT – 45 minutes ·  Group discussion on micro factors influencing retailer decision making -10 minutes	Discussion forum
12	Indian Vs Global Retailing		TB 4: pages 93-101 Handout https://www.kearney.com/global-retail-development-index/2019#:~:text=The%202019%20global%20retail%20development%20Index%20is%20a,forcing%20global%20retailers%20to%20continually%20rethink%20their%20strategies.	·  Lecture on Indian Vs Global Retailing using Kearney GRDI Index 2019 using PPT -40 minutes ·  Discussion Indian retail Industry performance and future developments basing on Kearney GRDI index – 15 minutes	Assignment – One page note on retail development in any two countries Quiz
13	Unit – 2 Market Segmentation introduction and stages	·    To analyse and apply STP model in retail space ·    To analyse and store location and site evaluation for retailers	1.    https://www.youtube.com/watch?v=x5bkkDhcYT4 2.    https://www.youtube.com/watch?v=pVsHd1XaIiM 3.    https://www.youtube.com/watch?v=7vgaLP5dP0w TB 2: pages 125-126	·  Market segmentation Video discussion using PPT – 7 minutes ·  Lecture on introduction to Market segmentation and stages – 45 minutes ·  Poll: 3 minutes	Assignment – One page note on STP of Tesla
14	Benefits and Prerequisites of Segmentation		TB 2: pages 126-127	·  Lecture on benefits and prerequisites of segmentation using PPT – 45 minutes ·  Students presentation -10 minutes	Discussion forum
15	Dimensions of Segmentation Traditional		TB – 2: pages 128-130	·  Lecture on dimensions of segmentation using PPT – 45 minutes ·  Discussion on classification of Indian markets basing on Tier locations – 15 minutes for retailers	Quiz, Assignment –One page note on dimensions of segmentation with retail company examples.
16	Dimensions of Segmentation Modern and targeting		TB 2: pages 130-134 TB 3: pages 485-486	·   Lecture on Value and Life style Segmentation and targeting using PPT – 45 minutes ·   Discussion and doubts clarification – 10 minutes	Discussion forum Poll
17	Positioning decisions and limitations of segmentation		TB 3: pages 486-488	·  Lecture on positioning decisions limitations of segmentation using PPT -40 minutes ·  Doubt clarification on STP model -10 minutes	Mini Project: Evaluate the STP of a retailer offering FMCG products and develop a STP model for an upcoming FMCG retailer.
18	Store Location and Layout: Introduction		TB 2: pages 162-163 TB 1: pages 111 Case study https://www.theretailingmanagement.com/?p=2248 Video Link http://www.wsj.com/video/brands-embrace-superheroes-to-boost-sales/F0D8AD95-EFB3-4F03-BCB1-D4FC2F89B6D3.html	·      Lecture on Store Location and Layout using PPT – 45 minutes ·      Discussion on Video Link – 10 minutes	Team Work: Read the case study and submit your analysis within a week
19	Factors affecting Store location decisions		TB 2: 163-165 TB 1: pages 116	·      Lecture on Factors affecting Store location decisions -45 minutes ·      Poll -5 minutes	Observe the nearby retail stores and analyze factors influencing their location decisions
20	Types of retail store locations		TB 2: 165-170 TB 1: pages 112-116	·      Lecture on Types of retail store locations using PPT-45 minutes ·      Discussion and doubt clarification – 10 minutes	Find out the different formats of retails store available near your place and non store formats of retailers
21	Country/ Regional Analysis, Trade area analysis		TB 2: 170-171 TB 1: pages 116-120	·      Lecture on Country/ Regional Analysis, Trade area analysis using PPT – 45 minutes ·      Poll: 5 minutes	Do short trade area analysis in your nearby location
22	Site evaluation, Site selection		TB 2: pages171-178 TB 1: pages 112-116	·      Lecture on Site evaluation, Site selection using PPT – 45 minutes ·      Discussion on site evaluation – 10 minutes	Try to contact the mom and pop store and ask site selection process and evaluate the same
23	Location based retail strategies		TB 2: 171-178	·      Lecture on Location based retail strategies – 45 minutes ·      Discussion and doubt clarification – 5 minutes	Mini Project: Summarize the Store location and identify a new store location for an upcoming entrepreneur Self Study: Store Layout atmospherics
24	Unit -3 Target Market and Retail Format Introduction and Types	·    To understand various formats of retail ·    To analyse Retail marketing strategies ·    To develop marketing strategies suitable for various retailers	TB 1: pages 13-27 TB 2: 26-55 Case study: https://www.theretailingmanagement.com/?p=2352 Video link http://www.wsj.com/video/amazoncom-four-major-challenges-ahead/80173A88-7357-418F-9A09-4A82DCD56B18.html	·      Lecture on Target Market and Retail Format Introduction and Types using PPT -45 minutes ·      Poll and Discussion on video – 10 minutes	1. Self study: Advantages and disadvantages of each retail format 2. Team Work: Analyze the case and submit report within a week.
25	Retail Format Types		TB 1: pages 13-27 TB 2: pages 26-55	·      Lecture on Retail Format using PPT – 45 minutes ·      Discussion and doubt clarification – 5 minutes	Self study: Advantages and disadvantages of each retail format and submission of the same in report.
26	Gauging growth opportunities		TB -4 pages 164-172 Case study https://www.theretailingmanagement.com/?p=2364	·      Lecture on Gauging growth opportunities using PPT – 45 minutes ·      Poll – 5 minutes	Team Work: Analyze the case and submit report within a week.
27	Building Sustainable competitive advantage		TB 4: pages 157-164 Video lInk http://www.chainstoreage.com/article/nordstrom-does-instagram%E2%80%94-roof	·      Lecture on Building Sustainable competitive advantage using PPT -45 minutes ·      Discussion on video – 10 minutes	Assignment: Submit your opinion on sustainable competitive advantage with one retailer example
28	Strategic retail planning process		TB -4 pages 172-183	·      Lecture on Strategic retail planning process using PPT – 50 minutes ·      Quiz – 5 minutes	Discussion forum
29	Differentiation strategies and positioning decisions		TB -4 pages 164-172	·      Lecture on Differentiation strategies and positioning decisions using PPT – 45 minutes ·      Review on positioning strategies – 10 minutes	Assignment: Submit one page note on differentiation strategies
30-35	Student    Presentations	Mid 1 Assessment	Preparation of Mini report by the Student on the given topic	Minimum 10 Minutes Presentation by each student	Improvement of presentation skills basing on faculty recommendations
36	Retail Pricing Introduction Establishing pricing policies	·    To know various pricing strategies used by retailers ·    To develop a pricing policy and strategy suitable for retailers	TB 1: pages 289-290 TB 4: pages 462-469 TB 2: pages 261-262 Video Link http://video.cnbc.com/gallery/?video=3000398463&play=1	·      Lecture on Retail Pricing Introduction Establishing pricing policies using PPT – 50 minutes ·      Quiz on video link – 5 minutes	Mini Project:  Analyze and evaluate the pricing strategy of a selected retailer and prepare a report. Basing on the report, you should create pricing policy and pricing strategy suitable for an existing or upcoming retailer within one week from commencement of concept.
37	Factors influencing pricing		TB 1: pages 290-291 TB 4: pages 462-469 TB 2: pages 263-270	·      Lecture on Factors influencing pricing using PPT – 50 minutes ·      Discussion – 10 minutes doubt clarification about assignment	Discussion forum Quiz
38	Pricing strategies, Psychological pricing		TB 1: pages 291-297, 301-303 TB 4: pages 481-489 TB 2: pages 271-279 Video Link http://www.wsj.com/video/hermes-birkin-bag-sells-for-record-222k-at-auction/AB9FF01B-339A-4220-AE41-A6F0C59855E1.html	·      Lecture on Pricing strategies, Psychological pricing using PPT – 45 minutes ·      Poll on Video – 5 minutes	Discussion forum
39	Markup and Markdown pricing		TB 1: pages 297-300 TB 4: pages 469-480 TB 2: pages 280-283	·      Lecture on Markup and Markdown pricing using PPT – 50 minutes ·      Summary and Doubt clarification about pricing – 10 minutes	Discussion forum Quiz
40	Unit -4 Customer Relationship Management in Retailing – Introduction	·    To know Customer relationship management in retailing ·    To understand relationship management and customer service in CRM ·    To apply CRM strategies for a specific retailer ·    To know IMC for retailers ·    To develop an IMC for a small retailer	TB 2: pages 352-354 TB 4: pages 346-364 Case study https://www.theretailingmanagement.com/?p=2245 Video Link http://adage.com/article/guest-columnists/mini-law-lesson-brands-periscope/298808/	·      Lecture on Customer Relationship Management in Retailing – Introduction using PPT – 50 minutes ·      Poll in Video – 5 minutes	Team Work: Analyze the case and submit your findings within a week from commencement of concept.
41	Benefits of CRM in Retailing		TB 2: pages 352-354 http://www.chainstoreage.com/article/amazon-launches-one-hour-mobile-delivery-manhattan	·      Lecture on Benefits of CRM in Retailing using PPT – 40 minutes ·      Case discussion – 15 minutes	Quiz on Video link and concepts Mini Project: Towards the end your should evaluate the CRM followed by a selected retailer including customer service, loyalty programmes and create a CRM module for small Retailer with available tools and technology (1 Week)
42	Management of relationships		TB 4: pages 346-364	·      Lecture on Management of relationships using PPT – 50 minutes ·      Discussion 5 minutes	Discussion forum and Quiz
43	Principles of CRM		TB 2: pages 354-356	·      Lecture on Principles of CRM using PPT – 45 minutes ·      Doubt clarification – 5 minutes	Discussion forum
44	CRM and its strategies		TB 2: pages 354-356	·      Lecture on CRM and its strategies using PPT – 50 minutes ·      Poll – 5 minutes	Discussion forum
45	Components of CRM		TB 4: pages 346-364 TB 3: pages 517-518	·      Lecture on Components of CRM using PPT – 45 minutes ·      GAP analysis – 10 minutes	Discussion forum
46	Customer service in retailing		TB 2: pages 356-359 TB 3: pages 518-526 Video Link http://www.wsj.com/video/fedex-delivered-on-christmas-to-ensure-on-time-packages/B5C05DEF-043B-43ED-A74F-EBFF29E60ED1.html	·      Lecture on Customer service in retailing using PPT – 45 minutes ·      Poll on Video link – 5 minutes	Discussion forum
47	CRM and Loyalty programmes		TB 2: pages 359-370 Video Link http://vimeo.com/33449844	·      Lecture on CRM and Loyalty programmes using PPT – 50 minutes ·      Pool on video – 5 minutes	Discussion forum
48	Understanding Integrated Marketing mix- process		TB 2: pages 288-289 TB 4: pages 493-516 TB 3: pages 491-503 Case study https://www.theretailingmanagement.com/?p=2251 Video Link: http://www.chainstoreage.com/article/whole-foods-new-store-concept-be-called-%E2%80%98365-whole-foods-market%E2%80%99	·      Lecture on Understanding Integrated Marketing mix- process using PPT – 50 minutes ·      Poll on video  - 5 minutes	Team Work: Analyze the case and submit report within a week. Self study: Advantages and disadvantages of each marketing mix type, IMC budget preparation and measurement types
49	Tools of IMC		TB 2: pages 289-311 http://www.youtube.com/watch?v=FXLJXmk_G-I	·      Lecture on Tools of IMC	Mini Project:  you should analyze the IMC and tools used in IMC by a selected Retailer and submit report. Develop new IMC for a selected retailer using the tools available (1 Week)
50	Upcoming tools of IMC		TB 4: pages 516-519	·      Lecture on Upcoming tools of IMC using PPT – 50 minutes ·      Discussion and doubt clarification about assignment – 10 minutes	Discussion forum
51	Upcoming tools of IMC		TB 4: pages 516-519	·      Lecture on Upcoming tools of IMC using PPT – 50 minutes ·      Poll: 5 minutes	Discussion forum
52	Factors influencing the increased use of sales promotion		TB 1: pages 344-347	·      Lecture on Factors influencing the increased use of sales promotion using PPT – 55 minutes ·      Sales promotion campaign discussion – 5 minutes	Discussion forum
53	Unit -5: International retailing Introduction	·  To know evolution and stages of Internationalization in Retailing ·  To understand the reasons for internationalization and various entry modes	Handout Handout  LPU 50-74 Case study https://www.theretailingmanagement.com/?p=2345	·      Lecture on International retailing Introduction using PPT – 50 minutes ·      Discussion – 5 minutes	Team Work: Analyze the case and submit report within a week.
54	Stages in retail global evolution		Handout	·      Lecture on Stages in retail global evolution using PPT – 50 minutes ·      Poll – 5 minutes	Discussion forum
55	Reasons for going global		Handout	·      Lecture on Reasons for going global using PPT – 50 minutes	Discussion forum
56	Reasons for going global		Handout	·         Lecture on Reasons for going global using PPT – 10 minutes ·         Group discussion – 40 minutes	Discussion forum
57	Other opportunities and benefits of going global		Handout	·         Lecture on Other opportunities and benefits of going global – 45 minutes ·         Poll – 5 minutes
58	Market entry methods		Handout	·      Lecture on Market entry methods using PPT – 45 minutes ·      Discussion – 5 minutes	Assignment: Submit one page note a selected retailer entry mode strategy
59	Market entry methods		Handout	·      Lecture on Market entry methods using PPT – 50 minutes ·      Poll: 5 minutes	Discussion forum
60-70	Student   Presentations	Mid 2 Assessment	Preparation of Mini report by the Student on the given topic	Minimum 10 Minutes Presentation by each student	Improvement of presentation skills basing on faculty recommendations

Evaluation:

·         Mini Report: 5 Marks for Mid 1 & Mid 2 Separately (Write your assignments, case analysis and mini project on A4 papers and submit the report)

·         Presentation: 5 Marks for Mid 1 & Mid 2 Separately (You should present case analysis and  mini projects done during the mid)

·         Descriptive Exam: 15 Marks for Mid 1 & Mid 2 Separately

·         Total Mid marks 25 Marks: Average of Mid 1 & Mid 2 

 

Note: Case study and video links presented in this micro lesson plan have been from various e sources. The cases and videos are used only for the academic purpose and duly thank the authors and creators of the same.

FACULTY: Lavanya P B