Synopsis
The entire textbook is organized around a model of strategic decision making. Each chapter relates back to this overarching strategic framework. The authors are careful to present a balanced approach by including descriptive how-to, and conceptual information in a highly readable format. The fourth edition stays on top of the latest topics and developments including; changing demographics of retail marketing, the growth of new retail formats, the use of communication and information technology to enable quick response to market dynamics, the importance of customer services, the development of the vendor-retailer partnering relationships, the importance of building on employee diversity. It reflects the changing job market with the centralization of the buying function, limited jobs for buyers, and the emergence of store management positions. The fourth edition continues to include extensive coverage of the Internet and provides numerous examples of how the Internet has affected retailing strategy.
From the Publisher
New Chapter on Multi-Channel Marketing (Chapter 3): This chapter replaces the e-retailing chapter, and describes the opportunities and challenges retailers face interacting with customers through multiple channels - stores, catalogs, and the Internet. While the e-commerce bubble has burst for e-retailing entrepreneurs, traditional retailers are investing in using the Internet to complement their stores. In this chapter, students learn the unique issues that store-based retailers face when communicating with and selling merchandise to customers over the Internet are analyzed.
New Chapter on Customer Relationship Management (CRM) (Chapter 11): This chapter examines how retailers are using customer databases to build repeat business and realize a greater share of wallet from key customers. These customer relationship management activities exploit the 80-20 rule - 20% of the customers account for 80% of the sales and profits. This chapter illustrates how retailers identify their best customers and target these customers with special promotions and customer services.
More Extensive Treatment Of New Technologies And Methods are highlighted throughout the text, underscoring to students the importance of the use of the Internet to provide information and sell products and services to customers (Chapter 3), the application of Geographic Information System (GIS) technology for store location (Chapter 8), Quick Response supply chain management systems (Chapter 10), implementation of frequent shopper programs (Chapter 11), CPFR (collaboration, planning, forecasting and replenishment) systems (Chapter 12), reverse auctions for buying merchandise (Chapter 14), use of profit optimization decision support systems for setting prices in different markets and taking markdowns (Chapter 15), and development of targeted promotions using customer databases (Chapter 16), giving students a complete and thorough look at the different aspects of the Retailing industry.
Fifteen New Cases including cases on Sephora, American Eagle Outfitters, Gadzooks, Dollar General, Abercrombie & Fitch, Enterprise Rent-a-Car, Home Depot, Build-A-Bear, Nordstroms, Avon, Sears, and Toys `R' Us Online. All of the 31 cases in the textbook are either new or updated with current information. A number of the cases have 10 to 12 minute videos complementing the written case.
Go Out And Do It Exercises for each chapter. These exercises suggest projects that students can undertake by either visiting local retail stores, surfing the Internet, or using the student CD accompanying the textbook. The exercises provide a hands-on learning experience for students.
Monthly Newsletter With Short Cases based on recent retailing articles appearing in the business and trade press. Instructor can use these short cases to stimulate class discussions on current issues confronting retailers. The newsletter is emailed to instructors monthly and archived on the text's webpage.
Completely Redesigned Student CD with four new exercises. The Student CD now provides an opportunity for students to evaluate international markets, examine the financial performance of a retailer, edit the assortment in a merchandise category, develop a merchandise budget plan, and evaluate various markdown strategies by playing a simulation game against a pricing optimization program.
Completely Revised Test Bank: This edition features over 2,000 new and refreshed true/false and multiple choice questions, as well as many more application-oriented questions.
Balanced Approach The fifth edition continues to offer a balanced approach for teaching an introductory retailing course by including descriptive how-to, and conceptual information in a highly readable format. Students can learn about the vocabulary and practice of retailing from the descriptive information throughout the text. Retailing Management goes beyond this descriptive information to illustrate how and why retailers, large and small, make decisions. Step-by-step procedures with examples are provided for the decisions retailers make in developing a strategy and managing their merchandise and stores. Conceptual information is presented so students understand why decisions are made as outlined in the text.
User Friendly text The text continues to interest and involve students in the course and the industry by making the textbook a 'good read' through the use of Refacts (retailing factoids), Retailing Views, and retail manager profiles at the beginning of each chapter. Did you know that a Montgomery Ward buyer created Rudolph, the Red-Nosed Reindeer as a Christmas promotion in 1939? Or that the teabag was developed by a Macy's buyer and the pantyhose were developed by a JCPenney buyer? In each chapter, the authors have added new and updated vignettes called Retailing Views in each chapter to relate concepts to activities and decisions made by retailers.
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Business Week Edition. Your students can subscribe to 15 weeks of Business Week for a specially priced rate of $8.25 in addition to the price of the text. Students will receive a pass code card shrink-wrapped with their new text. The card directs students to a Website where they enter the code and then gain access to Business Week's registration page to enter address info and set up their print and online subscription as well. Passcode ISBN 007-251530-9.
Wall Street Journal Edition. Your students can subscribe to the Wall Street Journal for 15 weeks at a specially priced rate of $20.00 in addition to the price of the text. Students will receive a "How To Use the WSJ" handbook plus a pass code card shrink-wrapped with the text. The card directs students to a Website where they enter the code and then gain access to the WSJ registration page to enter address info and set up their print and online subscription, and also set up their subscription to Dow Jones Interactive online for the span of the 15-week period. Passcode ISBN 007-251950-9.
Refacts. Refacts (retail factoids) provide students with interesting facts about retailing like the fact that a Montgomery Ward buyer created Rudolph, the Red-Nosed Reindeer as a Christmas promotion in 1939? Or that the teabag was developed by a Macy's buyer and the pantyhose were developed by a JCPenney buyer?
Retailing Views. Retailing Views are vignettes in each chapter that relate the concepts discussed in the case to decisions made by retailers. These vignettes include major retailers like Wal-Mart, Walgreens, Sears, JCPenney, Macy's, Neiman Marcus, and Home Depot that interview students on campus for management training positions; innovative retailers like REI, Starbucks, The Container Store, Sephora, Harry Rosen, Wet Seal, Chico's, and The Bass Pro Shop.
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