What you'll learn

• Define key terms and concepts related to retail management, such as point of sale, customer service, and inventory control.


• Explain the historical evolution and significance of retail management in the context of modern business.


• Differentiate between various retail business models, including brick-and-mortar stores, e-commerce, and omnichannel approaches.


• Analyze the characteristics and advantages of different retail formats, such as department stores, specialty stores, and discount stores.


• Outline the steps involved in strategic planning, from environmental analysis to goal setting and implementation.


• Evaluate the role of SWOT analysis in formulating effective retail business strategies.


• Demonstrate the use of strategic management tools, such as the BCG Matrix or Porter's Five Forces, in the context of retail business.


• Formulate a comprehensive business development plan that aligns with the overall strategic objectives of a retail organization.


• Analyze the principles of store layout and space utilization to enhance customer experience and flow.


• Apply knowledge of customer behavior to create a layout that encourages exploration and maximizes sales opportunities.


• Explore the key components of retail operations, including supply chain management, staffing, and technology integration.


• Develop a comprehensive marketing strategy that aligns with the target market and business objectives.


• Identify key components of a supermarket business plan, including market analysis, financial projections, and operational considerations.