How Retail Management Course Helps In Managing Showrooms

1. How Retail Management Course Helps in Managing Showrooms Retail management degreecourse offers complete understanding of how to manage outlets so that these offer ultimate satisfaction to the buyers. It entails several aspects like inventory control, price management etc. Retail is the process of designing, managing and controlling the processes in showrooms so that the Address : Prin. L. N. Welingkar Institute of Management Development & Research Lakhamsi Napoo Road, Near Matunga (Central Rly.), Mumbai- 400 019. Fax: 91-22-24105585 Contact - 022-24198300/24178300

2. customer goes back home happy and fully satisfied. Students learn and master this process under retail management degreecourse. Colleges involved in providing education for retail management has included all aspects of this subject. This helps the students in attaining proficiency in retail management and in appearing for the positions that are of managerial level. Not to mention, the pay is excellent. Retail management is the branch of study that is aimed at understanding the expectations of the customers and helps achieve those by creating consumer-centric ambience. Everything arrangement to the billing desk forms the part of retail and has an important role in boosting the sales of the place. from the inventory through shelf Retail management course details lay focus on the subjects such as: Address : Prin. L. N. Welingkar Institute of Management Development & Research Lakhamsi Napoo Road, Near Matunga (Central Rly.), Mumbai- 400 019. Fax: 91-22-24105585 Contact - 022-24198300/24178300

3. a.Inventory control and management: Customers come to the showroom to buy products. The role of retail manager is to ensure that they find the product that they have come for to the showroom. This however does not mean hoarding the materials unnecessarily. It may add up the storage cost of the inventory. Thus, maintaining optimal levels of inventory is an important part of retail management. Whenever any promotional offer is running or the advertising campaign is launched on multiple platforms, the retail stores both offline and online, should maintain the promotional message. Inventory management is closely related to pricing management in this case. b.Pricing and discount management: When a student goes for the best colleges for retail management, it helps in learning the pricing aspect. Price has to be consistent with the quality offered at the retail store. Price has to cover the cost of maintaining or managing the store. It also has to cover the expenses that go into hiring the consistency of the Address : Prin. L. N. Welingkar Institute of Management Development & Research Lakhamsi Napoo Road, Near Matunga (Central Rly.), Mumbai- 400 019. Fax: 91-22-24105585 Contact - 022-24198300/24178300

4. sales staff and other fixed types of expenses such as rent for the showroom, license for business fee, etc. Thus, pricing management is another crucial part of retail management course failing which can break the situation terribly, leading to shutting down of the store eventually. Clearance stock sales, though aimed at clearing the stock, has to offer some value to the business so that it makes money out of things prone to waste. There is a taker for every price segment. Understanding the customer profile and consumer behavior is closely related to pricing management. c.Consumer behavior study: Retail management is about reaching to the customers directly through a store which can be Understanding consumer behavior is important to make the retail business successful. Consumer behavior pertains to the customer expectations, their response and their experience at the store. It can help a lot in generating sales if the consumer behavior is studied closely and correctly. Which products to store on the fore and which to remote offline or online. Address : Prin. L. N. Welingkar Institute of Management Development & Research Lakhamsi Napoo Road, Near Matunga (Central Rly.), Mumbai- 400 019. Fax: 91-22-24105585 Contact - 022-24198300/24178300

5. parts of the store is a decision that arises from consumer behavior. d.Stacking and shelves management: Consumer behavior gives way to the shelves management. The height, style and color of shelves play an important role in boosting sales. The placement of shelves is important too. The consumers tend to buy those products more which have an offer highlighted on the shelf. They also tend to pick those products which are easily accessible. The retail store cannot be suffocated with the shelves. It has to offer ample space to the customers to move. Address : Prin. L. N. Welingkar Institute of Management Development & Research Lakhamsi Napoo Road, Near Matunga (Central Rly.), Mumbai- 400 019. Fax: 91-22-24105585 Contact - 022-24198300/24178300

6. Apart from these, studying the retail management also involves promotions and advertising management. All the aspects of retail management are inter-related and none can be studied separately. So, go for the courses that offer a wholesome Address : Prin. L. N. Welingkar Institute of Management Development & Research Lakhamsi Napoo Road, Near Matunga (Central Rly.), Mumbai- 400 019. Fax: 91-22-24105585 Contact - 022-24198300/24178300