Retail marketing is the process by which retailers promote awareness and interest in their goods and services in an effort to generate sales.
Who should take this course
Retail Marketing Execs, Retail Marketing Managers, Senior retail staffRetail buyers.
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.
About Course Provider
London Training for Excellence offer a wide range of training courses in London for organisations and individuals who wish to advance their skills and knowledge in the business world. With a great training centre in London, London TFE have everything that is needed to understand the basic needs of a business. Each course focuses on the ‘real-life’ issues a business could face and how to tackle them with ease.
London TFE have a team of enthusiastic leaders and instructors who share a passion for education and want to deliver that same passion to every individual who wish to take a business to succession. Each training courses London encourages individual to aim high and reach their full potential.