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Retail Management : A Strategic Approach

ISBN: 9780131870161 | 0131870165
Edition: 11th
Format: Hardcover
Publisher: Prentice Hall
Pub. Date: 1/1/2010

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SummaryTable of Contents
This best seller provides a balance between theory and practice, useful career information, and a comprehensive package of ancillaries. It takes a strategic approach to decision making. The volume provides an overview of strategic retail management, and provides a careful examination of situation analysis, targeting customers and gathering information, choosing a store location, managing a retail business, merchandise management and pricing, communicating with the customer and integrating and controlling the retail strategy. For retail training... MORE
... MORE
Prefacexv
Acknowledgmentsxxiii
PART ONE An Overview of Strategic Retail Management
1(100)
An Introduction to Retailing
3(20)
Chapter Objectives
3(1)
Overview
4(1)
The Framework of Retailing
5(7)
Reasons for Studying Retailing
5(6)
The Special Characteristics of Retailing
11(1)
The Importance of Developing and Applying a Retail Strategy
12(7)
Target Stores: The Successful Saga of an Upscale Discounter!
13(2)
The Retailing Concept
15(4)
The Focus and Format of the Text
19(1)
Summary
20(1)
Key Terms
21(1)
Questions for Discussion
21(1)
Web-Based Exercise: Clickz Stats Retailing (www.clickz.com/stats/sectors/retailing)
22(1)
Building and Sustaining Relationships in Retailing
23(34)
Chapter Objectives
23(1)
Overview
24(1)
Value and the Value Chain
25(3)
Retailer Relationships
28(10)
Customer Relationships
28(8)
Channel Relationships
36(2)
The Differences in Relationship Building Between Goods and Service Retailers
38(2)
Technology and Relationships in Retailing
40(4)
Electronic Banking
41(1)
Customer and Supplier Interactions
42(2)
Ethical Performance and Relationships in Retailing
44(6)
Ethics
44(2)
Social Responsibility
46(1)
Consumerism
46(4)
Summary
50(1)
Key Terms
51(1)
Questions for Discussion
51(1)
Web-Based Exercise: Kohl's (www.kohls.com)
51(2)
Appendix on Planning for the Unique Aspects of Service Retailing
53(1)
Abilities Required to Be a Successful Service Retailer
53(1)
Improving the Performance of Service Retailers
54(2)
The Strategy of Pal's Sudden Service: A Baldrige Award Winner
56(1)
Strategic Planning in Retailing
57(44)
Chapter Objectives
57(1)
Overview
58(1)
Situation Analysis
58(9)
Organizational Mission
59(2)
Ownership and Management Alternatives
61(3)
Goods/Service Category
64(1)
Personal Abilities
64(1)
Financial Resources
65(1)
Time Demands
66(1)
Objectives
67(5)
Sales
67(1)
Profit
68(1)
Satisfaction of Publics
68(1)
Image (Positioning)
69(2)
Selection of Objectives
71(1)
Identification of Consumer Characteristics and Needs
72(2)
Overall Strategy
74(5)
Controllable Variables
74(2)
Uncontrollable Variables
76(1)
Integrating Overall Strategy
77(2)
Specific Activities
79(1)
Control
79(1)
Feedback
80(1)
A Strategic Planning Template for Retail Management
80(3)
Summary
83(1)
Key Terms
84(1)
Questions for Discussion
84(1)
Web-Based Exercise: Carrefour (www.carrefour.com)
84(1)
Appendix on the Special Dimensions of Strategic Planning in a Global Retailing Environment
85(1)
The Strategic Planning Process and Global Retailing
85(2)
Opportunities and Threats in Global Retailing
87(1)
Opportunities
87(1)
Threats
87(1)
Standardization: An Opportunity and a Threat
87(1)
Factors Affecting the Success of a Global Retailing Strategy
88(1)
U.S. Retailers in Foreign Markets
89(1)
Foreign Retailers in the U.S. Market
90(2)
Part One Short Cases
92(3)
Bed Bath & Beyond's Plan for Growth
92(1)
Netflix: Competing in a Tough Marketplace
92(1)
What Loyalty Programs Work in Brazil?
93(1)
eBay Expands Around the Globe
94(1)
Part One Comprehensive Case
Mining for Growth
95(6)
PART TWO Situation Analysis
101(94)
Retail Institutions by Ownership
103(24)
Chapter Objectives
103(1)
Overview
104(1)
Retail Institutions Characterized by Ownership
105(13)
Independent
105(3)
Chain
108(2)
Franchising
110(4)
Leased Department
114(1)
Vertical Marketing System
115(2)
Consumer Cooperative
117(1)
Summary
118(1)
Key Terms
119(1)
Questions for Discussion
119(1)
Web-Based Exercise: Dunkin' Brands (www.dunkin-baskintogos.com/html/home.asp)
120(1)
Appendix on the Dynamics of Franchising
120(1)
Managerial Issues in Franchising
121(3)
Franchisor-Franchisee Relationships
124(3)
Retail Institutions by Store-Based Strategy Mix
127(26)
Chapter Objectives
127(1)
Overview
128(1)
Considerations in Planning a Retail Strategy Mix
128(6)
The Wheel of Retailing
129(2)
Scrambled Merchandising
131(1)
The Retail Life Cycle
132(2)
How Retail Institutions Are Evolving
134(2)
Mergers, Diversification, and Downsizing
134(1)
Cost Containment and Value-Driven Retailing
135(1)
Retail Institutions Categorized by Store-Based Strategy Mix
136(14)
Food-Oriented Retailers
136(5)
General Merchandise Retailers
141(9)
Summary
150(1)
Key Terms
151(1)
Questions for Discussion
151(1)
Web-Based Exercise: eBay (www.ebay.com)
152(1)
Web, Nonstore-Based, and Other Forms of Nontraditional Retailing
153(42)
Chapter Objectives
153(1)
Overview
154(1)
Direct Marketing
155(10)
The Domain of Direct Marketing
158(1)
The Customer Data Base: Key to Successful Direct Marketing
158(1)
Emerging Trends
158(4)
The Steps in a Direct Marketing Strategy
162(2)
Key Issues Facing Direct Marketers
164(1)
Direct Selling
165(2)
Vending Machines
167(1)
Electronic Retailing: The Emergence of the World Wide Web
168(8)
The Role of the Web
168(1)
The Scope of Web Retailing
169(1)
Characteristics of Web Users
170(1)
Factors to Consider in Planning Whether to Have a Web Site
171(2)
Examples of Web Retailing in Action
173(3)
Other Nontraditional Forms of Retailing
176(3)
Video Kiosks
176(2)
Airport Retailing
178(1)
Summary
179(2)
Key Terms
181(1)
Questions for Discussion
181(1)
Web-Based Exercise: Stats Toolbox (www.clickz.com/stats/stats_toolbox)
181(1)
Appendix on Multi-Channel Retailing
182(1)
Advantages of Multi-Channel Retail Strategies
183(2)
Selecting Among Multiple Channels Based on Their Unique Strengths
184(1)
Opportunities to Leverage Assets
184(1)
Opportunities for Increased Sales and Profits by Appealing to Multi-Channel Shoppers
184(1)
Developing a Well-Integrated Multi-Channel Strategy
185(1)
Integrating Promotions Across Channels
185(1)
Ensuring Product Consistency Across Channels
185(1)
Having an Information System That Effectively Shares Data Across Channels
186(1)
Enacting a Store Pickup Progress for Items Purchased on the Web or Through a Catalog
186(1)
Searching for Multi-Channel Opportunities with Appropriate Partners
186(1)
Special Challenges
186(2)
Part Two Short Cases
188(3)
The Strong Comeback of Small Retailers
188(1)
Subway in China: Not So Easy
188(1)
Trader Joe's Distinctive Approach
189(1)
Online Snapfish Seeks an Offline Presence
190(1)
Part Two Comprehensive Case
The Outlook for Soft Goods Specialty Stores
191(4)
PART THREE Targeting Customers and Gathering Information
195(64)
Identifying and Understanding Consumers
197(28)
Chapter Objectives
197(1)
Overview
198(1)
Consumer Demographics and Lifestyles
198(8)
Consumer Demographics
199(2)
Consumer Lifestyles
201(2)
Retailing Implications of Consumer Demographics and Lifestyles
203(3)
Consumer Profiles
206(1)
Consumer Needs and Desires
206(2)
Shopping Attitudes and Behavior
208(10)
Attitudes Toward Shopping
208(1)
Where People Shop
209(1)
The Consumer Decision Process
210(5)
Types of Consumer Decision Making
215(2)
Impulse Purchases and Customer Loyalty
217(1)
Retailer Actions
218(3)
Retailers with Mass Marketing Strategies
219(1)
Retailers with Concentrated Marketing Strategies
220(1)
Retailers with Differentiated Marketing Strategies
220(1)
Environmental Factors Affecting Consumers
221(1)
Summary
221(1)
Key Terms
222(1)
Questions for Discussion
223(1)
Web-Based Exercise: Best Buy's ``Geek Squad'' (www.geeksquad.com)
223(2)
Information Gathering and Processing in Retailing
225(34)
Chapter Objectives
225(1)
Overview
226(1)
Information Flows in a Retail Distribution Channel
226(2)
Avoiding Retail Strategies Based on Inadequate Information
228(1)
The Retail Information System
229(9)
Building and Using a Retail Information System
229(4)
Data-Base Management
233(3)
Gathering Information Through the UPC and EDI
236(2)
The Marketing Research Process
238(10)
Secondary Data
240(4)
Primary Data
244(4)
Summary
248(1)
Key Terms
249(1)
Questions for Discussion
249(1)
Web-Based Exercise: A.C. Nielsen (www.acnielsen.com)
249(2)
Part Three Short Cases
251(3)
Abercrombie's Ruehl No. 925 Targets a Different Customer Niche
251(1)
Ben & Jerry's: Staying True to Its Core Customers
251(1)
7-Eleven Turns Up Its Retail Information System
252(1)
The Value and Challenges of Comparison Web Sites
252(2)
Part Three Comprehensive Case
The Apparel Shopper
254(5)
PART FOUR Choosing A Store Location
259(64)
Trading-Area Analysis
261(30)
Chapter Objectives
261(1)
Overview
262(1)
The Importance of Location to a Retailer
262(2)
Trading-Area Analysis
264(14)
The Use of Geographic Information: Systems in Trading-Area Delineation and Analysis
266(4)
The Size and Shape of Trading Areas
270(3)
Delineating the Trading Areas of an Existing Store
273(1)
Delineating the Trading Area of a New Store
274(4)
Characteristics of Trading Areas
278(9)
Characteristics of the Population
280(5)
Economic Base Characteristics
285(1)
The Nature of Competition and the Level of Saturation
285(2)
Summary
287(1)
Key Terms
288(1)
Questions for Discussion
288(1)
Web-Based Exercise: Site Selection Magazine (www.siteselection.com)
289(2)
Site Selection
291(32)
Chapter Objectives
291(1)
Overview
292(1)
Types of Locations
292(11)
The Isolated Store
292(1)
The Unplanned Business District
293(5)
The Planned Shopping Center
298(5)
The Choice of a General Location
303(1)
Location and Site Evaluation
304(8)
Pedestrian Traffic
305(1)
Vehicular Traffic
306(1)
Parking Facilities
306(1)
Transportation
307(1)
Store Composition
307(1)
Specific Site
308(1)
Terms of Occupancy
309(3)
Overall Rating
312(1)
Summary
312(1)
Key Terms
313(1)
Questions for Discussion
313(1)
Web-Based Exercise: Turning Around Downtown (www.brookings.edu)
314(1)
Part Four Short Cases
315(3)
Retail Development Comes to Hattiesburg, Mississippi
315(1)
Small Chains, Big Store Location Tactics
315(1)
Home Depot in New York City
316(1)
Shopping Center Unrest: The Battle Over Leases
317(1)
Part Four Comprehensive Case
Retailing in Germany
318(5)
PART FIVE Managing a Retail Business
323(82)
Retail Organization and Human Resource Management
325(30)
Chapter Objectives
325(1)
Overview
326(1)
Setting Up a Retail Organization
326(5)
Specifying Tasks to Be Performed
327(1)
Dividing Tasks Among Channel Members and Customers
328(1)
Grouping Tasks into Jobs
328(2)
Classifying Jobs
330(1)
Developing an Organization Chart
330(1)
Organizational Patterns in Retailing
331(5)
Organizational Arrangements Used by Small Independent Retailers
331(2)
Organizational Arrangements Used by Department Stores
333(2)
Organizational Arrangements Used by Chain Retailers
335(1)
Organizational Arrangements Used by Diversified Retailers
336(1)
Human Resource Management in Retailing
336(16)
The Special Human Resource Environment of Retailing
338(4)
The Human Resource Management Process in Retailing
342(10)
Summary
352(1)
Key Terms
352(1)
Questions for Discussion
353(1)
Web-Based Exercise: Federated Department Stores (www.retailology.com/college/home.asp)
353(2)
Operations Management: Financial Dimensions
355(22)
Chapter Objectives
355(1)
Overview
356(1)
Profit Planning
356(1)
Asset Management
357(9)
The Strategic Profit Model
360(1)
Other Key Business Ratios
361(2)
Financial Trends in Retailing
363(3)
Budgeting
366(5)
Preliminary Budgeting Decisions
367(1)
Ongoing Budgeting Process
368(3)
Resource Allocation
371(2)
The Magnitude of Various Costs
371(1)
Productivity
372(1)
Summary
373(1)
Key Terms
373(1)
Questions for Discussion
374(1)
Web-Based Exercise: QuickBooks (www.quickbooks.intuit.com)
374(3)
Operations Management: Operational Dimensions
377(28)
Chapter Objectives
377(1)
Overview
378(1)
Operating a Retail Business
378(16)
Operations Blueprint
378(1)
Store Format, Size, and Space Allocation
379(3)
Personnel Utilization
382(2)
Store Maintenance, Energy Management, and Renovations
384(1)
Inventory Management
385(1)
Store Security
386(1)
Insurance
387(1)
Credit Management
387(2)
Computerization
389(3)
Outsourcing
392(1)
Crisis Management
393(1)
Summary
394(1)
Key Terms
395(1)
Questions for Discussion
395(1)
Web-Based Exercise: Outsourcing Center (www.outsourcing-center.com)
395(2)
Part Five Short Cases
397(3)
The Employee Culture at Umpqua Bank
397(1)
Sony Looks to a Small-Store Format
397(1)
Improving Productivity at Albertson's
398(1)
European Retailers Experiment with RFID Technology
399(1)
Part Five Comprehensive Case
Dealing with Disengaged Employees
400(5)
PART SIX Merchandise Management and Pricing
405(132)
Developing Merchandise Plans
407(32)
Chapter Objectives
407(1)
Overview
408(1)
Merchandising Philosophy
408(3)
Buying Organization Formats and Processes
411(5)
Level of Formality
411(1)
Degree of Centralization
412(1)
Organizational Breadth
412(1)
Personnel Resources
412(2)
Functions Performed
414(1)
Staffing
414(2)
Devising Merchandise Plans
416(13)
Forecasts
416(2)
Innovativeness
418(3)
Assortment
421(4)
Brands
425(2)
Timing
427(1)
Allocation
428(1)
Category Management
429(2)
Merchandising Software
431(3)
General Merchandise Planning Software
432(1)
Forecasting Software
432(1)
Innovativeness Software
432(1)
Assortment Software
433(1)
Allocation Software
433(1)
Category Management Software
433(1)
Summary
434(1)
Key Terms
435(1)
Questions for Discussion
435(1)
Web-Based Exercise: Planning Factory (www.planfact.co.uk/mp_resources.htm)
436(3)
Implementing Merchandise Plans
439(28)
Chapter Objectives
439(1)
Overview
440(1)
Implementing Merchandise Plans
440(11)
Gathering Information
440(2)
Selecting and Interacting with Merchandise Sources
442(3)
Evaluating Merchandise
445(1)
Negotiating the Purchase
445(1)
Concluding Purchases
446(1)
Receiving and Stocking Merchandise
447(3)
Reordering Merchandise
450(1)
Re-Evaluating on a Regular Basis
451(1)
Logistics
451(7)
Performance Goals
452(1)
Supply Chain Management
453(1)
Order Processing and Fulfillment
454(2)
Transportation and Warehousing
456(2)
Customer Transactions and Customer Service
458(1)
Inventory Management
458(6)
Retailer Tasks
458(2)
Inventory Levels
460(1)
Merchandise Security
460(2)
Reverse Logistics
462(1)
Inventory Analysis
463(1)
Summary
464(1)
Key Terms
464(1)
Questions for Discussion
465(1)
Web-Based Exercise: UPS Supply Chain Solutions (www.ups-scs.com/solutions/retail.html)
465(2)
Financial Merchandise Management
467(30)
Chapter Objectives
467(1)
Overview
468(1)
Inventory Valuation: The Cost and Retail Methods of Accounting
468(8)
The Cost Method
470(2)
The Retail Method
472(4)
Merchandise Forecasting and Budgeting: Dollar Control
476(8)
Designating Control Units
476(1)
Sales Forecasting
477(2)
Inventory-Level Planning
479(2)
Reduction Planning
481(1)
Planning Purchases
482(2)
Planning Profit Margins
484(1)
Unit Control Systems
484(4)
Physical Inventory Systems
485(1)
Perpetual Inventory Systems
486(2)
Unit Control Systems in Practice
488(1)
Financial Inventory Control: Integrating Dollar and Unit Concepts
488(4)
Stock Turnover and Gross Margin Return on Investment
488(2)
When to Reorder
490(1)
How Much to Reorder
491(1)
Summary
492(1)
Key Terms
493(1)
Questions for Discussion
494(1)
Web-Based Exercise: GMROI (www.interactiveedge.com)
494(3)
Pricing in Retailing
497(40)
Chapter Objectives
497(1)
Overview
498(2)
External Factors Affecting a Retail Price Strategy
500(7)
The Consumer and Retail Pricing
500(2)
The Government and Retail Pricing
502(3)
Manufacturers, Wholesalers, and Other Suppliers---and Retail Pricing
505(1)
Competition and Retail Pricing
506(1)
Developing a Retail Price Strategy
507(18)
Retail Objectives and Pricing
507(2)
Broad Price Policy
509(1)
Price Strategy
510(7)
Implementation of Price Strategy
517(4)
Price Adjustments
521(4)
Summary
525(1)
Key Terms
525(1)
Questions for Discussion
526(1)
Web-Based Exercise: Sam's Club (www.samsclub.com)
526(2)
Part Six Short Cases
528(3)
The Zumiez Merchandising Approach to Luring Teens
528(1)
Starbucks: A Lot More Than Coffee
528(1)
The Growing Popularity of ``Slightly Used'' Merchandise
529(1)
Retailer Pressure on Suppliers: The Markdown Showdown
530(1)
PART SIX Comprehensive Case
Pricing's Role in Merchandise Management
531(6)
PART SEVEN Communicating with the Customer
537(66)
Establishing and Maintaining A Retail Image
539(28)
Chapter Objectives
539(1)
Overview
540(1)
The Significance of Retail Image
541(3)
Components of a Retail Image
541(1)
The Dynamics of Creating and Maintaining a Retail Image
542(2)
Atmosphere
544(15)
A Store-Based Retailing Perspective
545(12)
A Nonstore-Based Retailing Perspective
557(2)
Encouraging Customers to Spend More Time Shopping
559(3)
Community Relations
562(1)
Summary
563(1)
Key Terms
564(1)
Questions for Discussion
564(1)
Web-Based Exercise: Cheesecake Factory (www.thecheesecakefactory.com)
565(2)
Promotional Strategy
567(36)
Chapter Objectives
567(1)
Overview
568(1)
Elements of the Retail Promotional Mix
568(16)
Advertising
568(7)
Public Relations
575(2)
Personal Selling
577(3)
Sales Promotion
580(4)
Planning a Retail Promotional Strategy
584(9)
Determining Promotional Objectives
584(3)
Establishing an Overall Promotional Budget
587(1)
Selecting the Promotional Mix
588(2)
Implementing the Promotional Mix
590(3)
Reviewing and Revising the Promotional Plan
593(1)
Summary
593(1)
Key Terms
594(1)
Questions for Discussion
594(1)
Web-Based Exercise: Office.com's ``Promote Your Business'' (www.office.com)
595(1)
Part Seven Short Cases
596(3)
The Evolving Image of Amazon.com
596(1)
Building Retail Brands: The Gasoline Experience
596(1)
Limited Brands Bets on Bigelow
597(1)
Stop & Shop and the IBM Personal Shopping Assistant
598(1)
Part Seven Comprehensive Case
The Role of Marketing in Retailing
599(4)
PART EIGHT Putting It All Together
603(32)
Integrating and Controlling the Retail Strategy
605(30)
Chapter Objectives
605(1)
Overview
606(1)
Integrating the Retail Strategy
606(13)
Planning Procedures and Opportunity Analysis
608(2)
Defining Productivity in a Manner Consistent with the Strategy
610(1)
Performance Measures
611(5)
Scenario Analysis
616(3)
Control: Using the Retail Audit
619(6)
Undertaking an Audit
619(3)
Responding to an Audit
622(1)
Possible Difficulties in Conducting a Retail Audit
623(1)
Illustrations of Retail Audit Forms
623(2)
Summary
625(1)
Key Terms
626(1)
Questions for Discussion
626(1)
Web-Based Exercise: American Customer Satisfaction Index (www.theacsi.org/industry_scores.htm)
627(1)
Part Eight Short Cases
628(2)
Sam Ash: A Musical Instrument Store Rolls On
628(1)
Neiman Marcus: How to Stay an Icon
628(2)
Part Eight Comprehensive Case
Wal-Mart in the Year 2010
630(5)
APPENDIXES
A: Careers in Retailing
635(8)
Overview
635(1)
The Bright Future of a Career in Retailing
635(1)
Owning a Business
636(1)
Opportunities as a Retail Employee
637(3)
Types of Positions in Retailing
637(1)
Career Paths and Compensation in Retailing
638(2)
Getting Your First Position as a Retail Professional
640(3)
Searching for Career Opportunities in Retailing
641(1)
Preparing for the Interview
641(1)
Evaluating Retail Career Opportunities
642(1)
B: About the Web Site That Accompanies Retail Management (www.prenhall.com/bermanevans)
643(2)
Overview
643(1)
Web Site Components
643(2)
Interactive Study Guide
644(1)
Chapter Objectives/Chapter Overviews
644(1)
Key Terms and Glossary
644(1)
Text-Related Web Site Links
644(1)
Careers in Retailing
644(1)
Retail Resources on the Web
644(1)
Web Exercises
644(1)
Computer Exercises
644(1)
Trade Associations
644(1)
C: Glossary
645(14)
Name Index659(8)
Subject Index667

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