APPLIES TO ACADEMIC YEAR 2016/2017 Norwegian version

VHL 3552 Retail I: Competitive Advantages, the Experience of Location and Merchandise Assortments - RE-SIT EXAMINATION

Responsible for the course
Robert Ingvaldsen

Department
Department of Marketing

Term
According to study plan

ECTS Credits
7,5

Language of instruction
Norwegian

Introduction
Qualified managers are of great importance when correct pathways toward competitive advantages, attractive stores and optimal results are considered. This course will actualize multidisciplinary and analytical comprehension concerning actual tasks together with relevant empowerment.

Retail 1 is the first of two courses in retailing. The focus is on competitive advantages and the experience of location and merchandise assortments. Retail 2 deals with store management, expansion strategies and store chain management.

Learning outcome
Acquired knowledge
The student will acquire knowledge and obtain adequate insight concerning the following:

• The concept of retailing, structural and dynamic development, including classification of retailers, types of stores, location formats and types of ownership
• Consumer behaviour, including the customer’s mental processes and behaviour before, during and after buying, buying and selling steps
• Marketing strategies and competitive advantages based on strategic targets and internal processes like format development, financial strategies, supply chain management and strategic human resource management
• Marketing strategies and competitive advantages based on strategic targets and external factors such as marketing communications and customer relationship management
• Different types of locations, principles, effect and dynamics, including management and establishment
• Conditions for optimal location regarding different types of retailers and formats
• Assortments including goods and services focusing on important aspects and decision-making including assortment concepts and principles
• Alternative classifications of merchandise, category management, merchandise placing, space management and consumer mental categories
• Important aspect regarding buying merchandise and selection of vendors
• Important aspects in pricing and communications affecting the retailer’s sales results and image

• Selection of market strategy, including selection of target market(s), strategic position and competitive advantage
• Selection of optimal location
• Development and maintenance of a selling merchandise assortment

• The candidate will during and after the course realize the importance of multidisciplinary knowledge and skills for practicing retailing
• The students will be encouraged to reflect on the importance of analysis before and after implementation of the retailer’s strategies and concepts of management
• The students will increase their focus on the importance of the relationships and interactions between human beings, merchandise and technology within the store, and furthermore, the development of harmony, mental balance and financial security for managers, employees and the retailer’s customers.

• Types of retailers, retail formats, retail chains and ownership
• Shopping based on experience
• Convenience retailing
• Multichannel retailing
• Specialized retailers
• Location types and formats

• The new customer
• Consumer behaviour focusing on buying and consumption in the retail industry
• Targets and types of customers in new retail formats

• Market strategies
• Establishment and development of competitive advantages focusing format development, innovation and new concepts
• Establishment and development of competitive advantages based on strategic human relations management (HRM), customer relationship management (CRM), supply chain management (SCM), calculation and pricing strategies.

• Aspects of selecting different types of location and location formats
• City or town locations, shopping centres, formats and management principles
• Quantitative analysis regarding demography and market aspects

• The selling assortments, width and depth of merchandise and services
• Retailers with compounded merchandise, profitability and adjustment matching the consumer’s mental categories
• Establishing and maintenance within merchandise assortments planning, buying systems and selection of vendors
• Space management
• Category management
• The customer’s price experience
• Market communications with focus on image development and increasing sales