Retail Management Report - Analysis of Strategic Retail Management

This report provides an overview of key concepts in retail management. It begins by exploring the author's interest in chain retailing, highlighting its benefits like brand image and economies of scale. The report then delves into strategic planning, emphasizing its importance for successful retail operations, including market analysis and promotional strategies. Further, the report covers various aspects of retail management, including setting up a retail organization, organizational arrangements, human resource management, non-store retailing, consumer behavior, information gathering, and trading-area analysis. The author emphasizes the importance of understanding consumer needs and preferences, effective information flow, and strategic location choices for retail success. The report also includes a section on the value profit chain and human resource management, highlighting the significance of employee satisfaction and customer loyalty.

Running head: MANAGEMENT
Management
Name of the Student:
Name of the University:
Author’s Note:

2MANAGEMENT
1. I have learned many new aspects of chain retailing in this course. However, I feel
that the topic of Chain Retailing has been the most important to me. This is mainly
because I am attracted to the idea of operating so many different chains of shops or
markets under single ownership. As per my perception, this is a much feasible business
idea and must also be used by the upcoming entrepreneurs who want to develop
themselves as retailers. I came to know that chain retailers are at a benefit as they have a
great brand image and are also benefitted from the economies of scale.
As they have a huge brand image they can also have a large number of customer
base and they will also be benefitted as they can earn a huge amount of revenue. Chains
generate at least 75 percent of total U.S. category sales for department stores, discount
department stores, and grocery stores. I would also like to take up my job in one of such
well known retail chains so that I gain good experience. This will also be beneficial for
me as I will be able to gain a sufficient idea about the different stores like retail clothing
and garments, groceries and many others.
2. Strategic planning in retailing
This is one of the most essential areas in retailing. This is because no plan can be
successful if carried out without any particular kinds of planning. To set up proper retail, it is
really important to make sure that there is a well planned or a well-organized outline of the
business. In other words, there must be a proper timeline between which the entire plan has to be
acrid out and will be properly implemented.

3MANAGEMENT
There must also be proper planning about the market mechanisms, the relevant promotional
strategies, market penetration strategy and the overall market activities that are to be carried out.
This will be highly beneficial for the organization as this will give an idea about the
strengths and weaknesses along with the ongoing socio-political scenario. This can enable
managers and planners to take the right strategies and allocate their budget accordingly. Apart
from the situation analysis, being a good leader is also essential. To be a successful retailer in the
2oth century one must follow steps like being open and easily approachable. This will ensure that
the employees can reach out to the manager without any kind of hesitations.