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Mastering Retail Marketing

Classroom based course with study materials, lecturer support and CPD Hours included


London Training For Excellence

Summary

Price
£3,960 inc VAT
Study method
Online, self-paced
Duration
5 Days
Qualification
No formal qualification
Additional info
  • Tutor is available to students

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Overview

Retail marketing is the process by which retailers promote awareness and interest in their goods and services in an effort to generate sales.

Description

Module 1 - Introduction – Retail Marketing overview

  • Structure of the marketing and buying functions in retailing
  • Who does what?
  • What are the skills and knowledge required?
  • How the market leaders are organized
  • Sectors of the market and corporate objectives
  • Customer profiling
  • The 4-way analysis as a means of improving performance
  • Brands and brand management

Module 2 - Approaches to Stock Control

  • Divisions of the inventory.
  • Methods of stock control.
  • Who needs what information and how to obtain it.
  • Outcomes from stock information – and decisions to take.
  • Range rationalization and product life cycles.
  • Sales forecasting techniques.
  • Measuring productivity of stock investment.
  • Pricing techniques – and effects on rate of stock turn.
  • Monitoring component parts of the stock assortment.

Module 3 - Financial performance and pricing

  • Financial stock control – sales and profits.
  • Methods of setting the selling price.
  • Managing the profit margin – effects of trading costs and markdowns.

Module 4 - Range Planning

  • Budgeting for the purchase allowance.
  • How to decide on the range and individual lines to stock.
  • Building the range strategy.
  • Model stock plans.
  • Range presentation exercise.
  • Product liability and safety issues.
  • Ethical relationships with customers.
  • Dealing with suppliers – collaborative or competitive relationships.
  • Visualizing the merchandise range presentation.

Module 5 - Negotiating with suppliers

  • Basic principles in setting up a partnership.
  • When, where and how to negotiate.
  • Setting the agenda.
  • Targets for negotiation.
  • Linking issues.
  • Structure for a negotiation.
  • Evaluating the negotiation.

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