Retail Marketing

This module will provide students with an understanding of the integral nature of marketing within the retail sector by focusing on current industry practices. Retail marketing influences our daily lives in our roles as consumers and shoppers. Its study therefore encompasses a wide range of activities such as environmental analysis; retail marketing research; consumer analysis; merchandise planning; distribution planning; promotional planning; pricing planning; and retail marketing management. The role of retail marketing tends to change in each new retailing situation. The formal study of retail marketing therefore requires an understanding of the definition of marketing; its importance, scope and functions, as well as the evolution of marketing and the marketing concept. Since retail marketing is the application of marketing concepts and philosophy relating to retail operation, a clear definition of marketing will be a good starting point for better understanding of this subject.