Modular value: 10 credits
This module builds on earlier core Marketing modules, and examines issues facing the dynamic retailing sector in developed economies. The aim of the module is to examine the marketing environment facing modern retailers, to explore the drivers behind industry change in developed economies and the aspects of marketing that present particular challenges for retailers. The emphasis will be on challenges facing retail `multiples¿, and examples will be drawn particularly from the world of fashion and food retailing.
Students will develop knowledge and understanding of:
- Understand the evolution of retailing (and associated theories), the functions and economic importance of retailing and the rise (and implications) of retail power.
- Appreciate the complexity of retail channels (store and non-store) used as alternative routes to market, and evaluate the merits of alternative strategies for different types of retail business.
- Understand the nature of the competitive environment within which retailers operate in developed economies, and analyse the forces driving change for particular sectors and types of retailer.
- Understand how to apply core marketing concepts (from Semester 1 modules) to retail-specific business problems, diagnose critical issues, appraise strategies, and design alternative solutions.
- Understand the nature of the retail mix, and the unique marketing emphases for retailers.