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RMG 400 (18)

Course Overview

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Department
Retail Management
Course
RMG 400
Professor
Bharat Sud
Semester
Fall

Description
Chapter 1 4 Ps: Product, Place, Promotion, Place Production Orientation Make whatever is easy to produce, and then try to sell Market Orientation Design marketing programs to meet customer needs Marketing Concept Customer satisfaction, Total Company effort & Profit TrendsChallenges: Too many stores, marketing to smaller niches, Increasing consolidation, Rapid globalization, Increased Demand Target Marketing Demo, Geo, Psychographic, Behavioristic Types of Target Marketing Undifferentiated, Concentrated, Multi-segmented Chapter 2 Buyer Role: Planning, Directing, Coordinating, Controlling Factors affecting Buyers job: Merchandise carried, Organizational Structure, Size of the Organization Chapter 3: Types of Products: Hard (Tools), Soft (Clothing), Food Chain stores, Buying is done through Head Office (Centralized Buying) : Central Merchandising Plan, Warehouse Requisition Plan (Each store sends requests to warehouse), Price agreement plan (Company agrees with suppliers for discounted price) Retail Formats: Department, Discount, Outlet (Specific Brands, Major Discounts), Specialty (Sell high, Turnover Low), Supermarket (Quick Turnover) Departmentalization: Functional, Product Line, Geographic Chapter 4: Marketing Research The systematic process of gathering, recording, and analyzing info about marketing-related problems Purpose of conducting Marketing Research: Understand environment, Understand customers, Analyze competition, Forecast Data: Primary New information, Secondary Already out there Internal Source Store Records, External Source Magazine Buying offices: Firms located in major market centres to provide buying advice: More efficient, Access to unique products, Discount Types of buying offices: Independent, Store-owned Chapter 5: Important trends to monitor: Sales levels, Store traffic, Staple items Buying motives: Rational, Emotional, Patronage (Buy only from certain stores) Lifestyle trends: Busy (Timesaver), Computer Junkies, Living Large (Spends more than they can afford) Le
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