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Retailing Management

ISBN-10: 0073381047
ISBN-13: 9780073381046
Edition: 7th 2009
List price: $277.33 Buy it from $1.75 Rent it from $20.90
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Book details

List price: $277.33
Edition: 7th
Copyright year: 2009
Publisher: McGraw-Hill Higher Education
Publication date: 4/18/2008
Binding: Hardcover
Pages: 736
Size: 8.75" wide x 11.25" long x 1.25" tall
Weight: 4.092

The World of Retailing
Introduction to the World of Retailing
What Is Retailing?
A Retailer's Role in a Supply Chain
Retailers Create Value
Social and Economic Significance of Retailing
Social Responsibility
Retail Sales
Employment
Global Retailers
Structure of Retailing and Supply Chains around the World
Opportunities in Retailing
Management Opportunities
Entrepreneurial Opportunities
The Retail Management Decision Process
Understanding the World of Retailing-Section I
Developing a Retail Strategy-Section II
JCPenney Moves from Main Street to the Mall
Implementing the Retail Strategy-Sections III and IV
Whole Foods Market: An Organic and Natural Food Supermarket Chain
Ethical and Legal Considerations
Summary
Key Terms
Get Out and Do It!
Discussion Questions and Problems
Suggested Readings
Careers in Retailing
Sources of Information about Retailing
Types of Retailers
Retailer Characteristics
Type of Merchandise
Variety and Assortment
Services Offered
Prices and the Cost of Offering Breadth and Depth of Merchandise and Services
Food Retailers
Supermarkets
Supercenters
Warehouse Clubs
Convenience Stores
General Merchandise Retailers
Department Stores
Full-Line Discount Stores
Specialty Stores
Drugstores
Category Specialists
Extreme Value Retailers
Off-Price Retailers
Nonstore Retailers
Electronic Retailers
Catalog and Direct-Mail Retailers
Direct Selling
Television Home Shopping
Vending Machine Retailing
Services Retailing
Differences between Services and Merchandise Retailers
Types of Ownership
Independent, Single-Store Establishments
Corporate Retail Chains
Franchising
Summary
Key Terms
Get Out and Do It!
Discussion Questions and Problems
Suggested Readings
Comparison Shopping
Multichannel Retailing
Retail Channels for Interacting with Customers
Store Channel
Catalog Channel
Internet Channel
Evolution toward Multichannel Retailing
Overcoming the Limitations of an Existing Format
Capabilities Needed for Multichannel Retailing
Who Has These Critical Resources?
Will Manufacturers Bypass Retailers and Sell Directly to Consumers?
Which Channel Is the Most Profitable?
Issues in Multichannel Retailing
Integrated Shopping Experience
Brand Image
Merchandise Assortment
Pricing
Shopping in the Future
Shopping Experience
Supporting the Shopping Experience
Summary
Key Terms
Get Out and Do It!
Discussion Questions and Problems
Suggested Readings
Customer Buying Behavior
The Buying Process
Need Recognition
Information Search
Evaluation of Alternatives: The Multiattribute Model
Purchasing the Merchandise or Service
Postpurchase Evaluation
Types of Buying Decisions
Extended Problem Solving
Limited Problem Solving
Habitual Decision Making
Social Factors Influencing the Buying Process
Family
Reference Groups
Culture
Market Segmentation
Criteria for Evaluating Market Segments
Approaches for segmenting Markets
Composite Segmentation Approaches
Summary
Key Terms
Get Out and Do It!
Discussion Questions and Problems
Suggested Readings
Customer Buying Behavior and Fashion
Retailing Strategy
Retail Market Strategy
What Is a Retail Strategy?
Definition of Retail Market Strategy
Target Market and Retail Format
Building a Sustainable Competitive Advantage
Customer Loyalty
Location
Human Resource Management
Distribution and Information Systems
Unique Merchandise
Vendor Relations
Customer Service
Multiple Sources of Advantage
Growth Strategies
Market Penetration
Market Expansion
Retail Format Development
Diversification
Strategic Opportunities and Competitive Advantage
Global Growth Opportunities
Who Is Successful and Who Isn't?
Keys to Success
Evaluating Global Growth Opportunities
Entry Strategies
The Strategic Retail Planning Process
Define the Business Mission
Conduct a Situation Audit
Identify Strategic Opportunities
Evaluate Strategic Opportunities
Establish Specific Objectives and Allocate Resources
Develop a Retail Mix to Implement Strategy
Evaluate Performance and Make Adjustments
Strategic Planning in the Real World
Summary
Key Terms
Get Out and Do It!
Discussion Questions and Problems
Suggested Readings
Using the Market Attractiveness/Competitive Position Matrix
Financial Strategy
Objectives and Goals
Financial Objectives
Societal Objectives
Personal Objectives
Strategic Profit Model
Profit Margin Management Path
Asset Management Path
Return on Assets
Illustration: Kelly Bradford's Evaluation of the Gifts-To-Go.com Growth Opportunity
Setting and Measuring Performance Objectives
Top-Down versus Bottom-Up Process
Accountable for Performance
Performance Objectives and Measures
Types of Measures
Assessing Performance: The Role of Benchmarks
Summary
Key Terms
Get Out and Do It!
Discussion Questions and Problems
Suggested Readings
Retail Locations
Types of Locations
Unplanned Retail Locations
Freestanding Sites
City or Town Locations
Shopping Centers
Neighborhood and Community Shopping Centers
Power Centers
Shopping Malls
Lifestyle Centers
Fashion/Specialty Centers
Outlet Centers
Theme/Festival Centers
Larger, Multiformat Developments-Omnicenters
Mixed Use Developments
Other Location Opportunities
Airports
Temporary Locations
Resorts
Store within a Store
Location and Retail Strategy
Shopping Behavior of Consumers in Retailer's Target Market
Size of Target Market
Uniqueness of Retail Offering
Legal Considerations
Environmental Issues
Zoning and Building Codes
Summary
Key Terms
Get Out and Do It!
Discussion Questions and Problems
Suggested Readings
Retail Site Location
Evaluating Specific Areas for Locations
Economic Conditions
Competition
Strategic Fit
Operating Costs
Number of Stores in an Area
Economies of Scale from Multiple Stores
Cannibalization
Evaluating a Site for Locating a Retail Store
Site Characteristics
Traffic Flow and Accessibility
Location Characteristics
Restrictions and Costs
Locations within a Shopping Center
Trade Area Characteristics
Trade Area Definition
Factors Affecting the Size of the Trade Area
Measuring the Trade Area for a Retail Site
Sources of Information about the Trade Area
Competition in the Trade Area
Estimating Potential Sales for a Store Site
Huff Gravity Model
Regression Analysis
Analog Approach
Illustration of Site Selection: Edward Beiner Optical
Competitive Analysis
Define Present Trade Area
Trade Area Characteristics
Match Characteristics of Present Trade Area with Potential Sites
Negotiating a Lease
Types of Leases
Terms of the Lease
Summary
Key Terms
Get Out and Do It!
Discussion Questions and Problems
Suggested Readings
Human Resource Management
Gaining Competitive Advantage Through Human Resource Management
Objectives of Human Resource Management
The Human Resource Triad
Special HR Conditions Facing Retailers
Designing the Organization Structure for a Retail Firm
Matching Organization Structure to Retail Strategy
Organization of a Single-Store Retailer
Organization of a National Retail Chain
Organization Structures of Other Types of Retailers
Retail Organization Design Issues
Centralization versus Decentralization
Coordinating Merchandise and Store Management
Winning the Talent War
Attracting Talent: Employment Marketing
Developing Talent: Selection and Training
Motivating Talent: Aligning Goals
Keeping Talent: Building Employee Commitment
Issues in Retail Human Resource Management
Managing Diversity
Legal and Regulatory Issues in Human Resource Management
Use of Technology
Summary
Key Terms
Get Out and Do It!
Discussion Questions and Problems
Suggested Readings
Information Systems and Supply Chain Management
Creating Strategic Advantage Through Supply Chain Management and Information Systems
Improved Product Availability
Higher Return on Investment
Strategic Advantage
Information Flows
Data Warehouse
Electronic Data Interchange
Pull and Push Supply Chains
The Physical Flow of Merchandise-Logistics
Distribution Centers versus Direct Store Delivery
The Distribution Center
Reverse Logistics
Logistics for Fulfilling Catalog and Internet Orders
Outsourcing Logistics
Collaboration Between Retailers and Vendors in Supply Chain Management
Using EDI
Sharing Information
Vendor-Managed Inventory
Collaborative Planning, Forecasting, and Replenishment
Radio Frequency Identification (RFID)
Benefits of RFID
Impediments to the Adoption of RFID
Summary
Key Terms
Get Out and Do It!
Discussion Questions and Problems
Suggested Readings
Customer Relationship Management
The CRM Process
What Is Loyalty?
Overview of the CRM Process
Collecting Customer Data
Customer Database
Identifying Information
Privacy and CRM Programs
Analyzing Customer Data and Identifying Target Customers
Identifying the Best Customers
Developing CRM Programs
Customer Retention
Converting Good Customers into Best Customers
Dealing with Unprofitable Customers
Implementing CRM Programs
Summary
Key Terms
Get Out and Do It!
Discussion Questions and Problems
Suggested Readings
Merchandise Management
Managing Merchandise Assortments
Merchandise Management Process Overview
The Buying Organization
Merchandise Category-The Planning Unit
Evaluating Merchandise Management Performance-GMROI
Managing Inventory Turnover
Merchandise Management Process
Types of Merchandise Management Planning Processes
Forecasting Sales
Category Life Cycles
Forecasting Staple Merchandise
Forecasting Fashion Merchandise Categories
Sales Forecasting for Service Retailers
Developing an Assortment Plan
Category Variety and Assortment
Determining Variety and Assortment
Setting Inventory and Product Availability Levels
Product Availability
Summary
Key Terms
Get Out and Do It!
Discussion Questions and Problems
Suggested Readings
Merchandise Planning Systems
Staple Merchandise Management Systems
The Inventory Management Report
Fashion Merchandise Management Systems
Monthly Sales Percentage Distribution to Season (Line 1)
Monthly Sales (Line 2)
Monthly Reductions Percentage Distribution to Season (Line 3)
Monthly Reductions (Line 4)
BOM (Beginning-of-Month) Stock-to-Sales Ratio (Line 5)
BOM Stock (Line 6)
EOM (End-of-Month) Stock (Line 7)
Monthly Additions to Stock (Line 8)
Evaluating the Merchandise Budget Plan
Open-to-Buy System
Calculating Open-to-Buy for the Current Period
Allocating Merchandise to Stores
Amount of Merchandise Allocated to Each Store
Type of Merchandise Allocated to Stores
Timing of Merchandise Allocations to Stores
Analyzing Merchandise Management Performance
Sell-Through Analysis Evaluating Merchandise Plan
Evaluating the Assortment Plan and Vendors
Summary
Key Terms
Get Out and Do It!
Discussion Questions and Problems
Suggested Readings
Retailing Inventory Method
Buying Merchandise
Brand Alternatives
National Brands
Private-Label Brands
Buying National Brand Merchandise
Meeting National Brand Vendors
National Brand Buying Process
Developing and Sourcing Private-Label Merchandise
Developing Private-Label Merchandise
Sourcing Merchandise
Global Sourcing
Support Services for Buying Merchandise
Resident Buying Offices
Retail Exchanges
Negotiating with Vendors
Knowledge Is Power
Negotiation Issues
Tips for Effective Negotiating
Strategic Relationships
Defining Strategic Relationships
Maintaining Strategic Relationships
Building Partnering Relationships
Legal and Ethical Issues for Buying Merchandise
Summary
Key Terms
Get Out and Do It!
Discussion Questions and Problems
Suggested Readings
Retail Pricing
Considerations in Setting Retail Prices
Customer Price Sensitivity and Cost
Competition
Legal and Ethical Pricing Issues
Setting Retail Prices
Setting Prices Based on Costs
Merchandising Optimization Software
Profit Impact of Setting a Retail Price: The Use of Break-Even Analysis
Price Adjustments
Markdowns
Variable Pricing and Price Discrimination
Pricing Strategies
High/Low Pricing
Everyday Low Pricing
Advantages of the Pricing Strategies
Pricing Services
Matching Supply and Demand
Determining Service Quality
Pricing Techniques for Increasing Sales
Leader Pricing
Price Lining
Odd Pricing
The Internet and Price Competition
Summary
Key Terms
Get Out and Do It!
Discussion Questions and Problems
Suggested Readings
Retail Communication Mix
Using Communication Programs to Develop Brand Images and Build Customer Loyalty
Value of Brand Image
Building Brand Equity
Extending the Brand Name
Methods of Communicating with Customers
Paid Impersonal Communications
Paid Personal Communications
Unpaid Impersonal Communications
Unpaid Personal Communications
Strengths and Weaknesses of Communication Methods
Planning the Retail Communication Program
Establish Objectives
Determine the Communication Budget
Allocation of the Promotional Budget
Plan, Implement, and Evaluate Communication Programs-Three Illustrations
Summary
Key Terms
Get Out and Do It!
Discussion Questions and Problems
Suggested Readings
Implementing Retail Advertising Programs
Store Management
Managing the Store
Store Management Responsibilities
Recruiting and Selecting Store Employees
Job Analysis
Job Description
Locating Prospective Employees
Screening Applicants to Interview
Selecting Applicants
Legal Considerations in Selecting and Hiring Store Employees
Orientation and Training Programs for New Store Employees
Orientation Programs
Training Store Employees
Motivating and Managing Store Employees
Leadership
Motivating Employees
Setting Goals or Quotas
Maintaining Morale
Sexual Harassment
Evaluating Store Employees and Providing Feedback
Who Should Do the Evaluation?
How Often Should Evaluations Be Done?
Format for Evaluations
Evaluation Errors
Compensate and Reward Store Employees
Extrinsic Rewards
Intrinsic Rewards
Compensation Programs
Designing the Compensation Program
Legal Issues in Compensation
Controlling Costs
Labor Scheduling
Green and Energy-Efficient Stores
Store Maintenance
Reducing Inventory Shrinkage
Calculating Shrinkage
Organized and High-Tech Retail Theft
Detecting and Preventing Shoplifting
Reducing Employee Theft
Summary
Key Terms
Get Out and Do It!
Discussion Questions and Problems
Suggested Readings
Store Layout, Design, and Visual Merchandising
Store Design Objectives
Store Design and Retail Strategy
Influence Customer Buying Behavior
Flexibility
Cost
Legal Considerations-Americans With Disabilities Act
Design Trade-Offs
Store Design
Layouts
Signage and Graphics
Feature Areas
Space Management
Space Allocated to Merchandise Categories
Location of Merchandise Categories and Design Elements
Location of Merchandise within a Category: The Use of Planograms
Visual Merchandising
Fixtures
Presentation Techniques
Atmospherics
Lighting
Color
Music
Scent
How Exciting Should a Store Be?
Web Site Design
Simplicity Matters
Getting Around
Let Them See It
Blend the Web Site with the Store
Prioritize
Type of Layout
Checkout
Summary
Key Terms
Get Out and Do It!
Discussion Questions and Problems
Suggested Readings
Customer Service
Strategic Advantage Through Customer Service
Customer Service Strategies
Customer Evaluations of Service Quality
The Gaps Model for Improving Retail Service Quality
Knowing What Customers Want: The Knowledge Gap
Setting Service Standards: The Standards Gap
Meeting and Exceeding Service Standards: The Delivery Gap
Communicating the Service Promise: The Communications Gap
Service Recovery
Listening to Customers
Providing a Fair Solution
Resolving Problems Quickly
Summary
Key Terms
Get Out and Do It!
Discussion Questions and Problems
Suggested Readings
Starting Your Own Retail Business
Starting a Franchise Business
Cases
Overview Grid
Tractor Supply Company-Targeting the Hobby Farmer
Rainforest Cafe: A Wild Place to Shop and Eat
Providing a Retail Experience: Build-A-Bear Workshop
Wal-Mart and Corporate Social Responsibility
Should Retailers Use Blogs?
Mall Anchors Away! The Franklins Discover Online Shopping
The Sanchez Family Buys Bicycles
Retailing in India: The Impact of Hypermarkets
Diamonds: From Mine to Market
Save-A-Lot
Royal Ahold: The Biggest Supermarket Retailer You Have Never Heard Of
The Competitive Environment in the 18- to 22-Year-Old Apparel Market
Tiffany's and Blue Nile: Comparing Financial Performance
Stephanie's Boutique: Selecting a Store Location
Hutch: Locating a New Store
Home Depot Changes Directions
Avon Embraces Diversity
Nordstrom Revamps Its Loyalty Program
Nolan's Finest Foods: Category Management
Developing a Buying Plan for Hughe's
McFadden's Department Store: Preparation of a Merchandise Budget Plan
Selling Pens to Wal-Mart
How Much for a Good Smell?
Promoting a Sale
Macy's: A National Department Store Brand
Discount Dining Draws a Crowd: Restaurant Weeks in Major Cities
Enterprise Builds on People
Diamond in the Rough
Fresh Ideas in Grocery Store Layout
Sephora
A Stockout at Discmart: Will Substitution Lead to Salvation?
Customer Service and Relationship Management at Nordstrom
Lindy's Bridal Shoppe
Is Apple America's Best Retailer?
Starbucks Coffee Company
New Product Development at Yankee Candle Company
PetSmart: Where Pets Are Family
Interviewing for a Management Trainee Position
Glossary
Indexes
Name
Company
Subject

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