Retail Management

Prof. S. S. Aggarwal
Bihani S. D. P. G. College, Sriganganagar (Rajasthan), Indi

Abstract
Retail Management is a business application for the retail community. It takes care of all the daily activities of the retailer and covers all aspects of the retail industry. It is suitable for Medicine Shops, Supermarket, Grocery Stores, Garment Stores, Shoe Stores, Petrol Pumps and any retail segment where goods are sold on retail counter or in wholesale. Changing lifestyles are prompting changes in the retail environment. Paucity of time and an increase in disposable incomes have created a need for new types of retail formats. This means that manufacturers and retailers will have to become better at knowing their customers and predicting their needs and wants. As the socio-economic structure in India changed so did the field of retailing. A once unorganized sector became transformed into an organized sector in the last decade of the 20th century as companies, both old and new, entered the arena. High volume malls, shopping outlets, supermarkets and hypermarkets mushroomed, requiring the application of modern management techniques to run them efficiently and effectively. Retail success in today’s competitive environment is all about getting the right product to the right place at the right time, at the lowest cost possible. This requires retail managers to be adept at planning, merchandising, pricing, and promotion. The retail industry is changing rapidly, diversifying their inventories and providing a greater variety of services to cater to the one-stop shopper. Larger stores offer amenities such as dining areas, coffee shops and groceries. Changes will continue as competition increases, presenting new opportunities for those with the proper education and skills.

Reasons for Business Failures

Anthony S. McKenzie
Nana Yaw Annor-Adjei
London College of Management Studies, UK

ABSTRACT
The objective of this review paper is to identify reasons less obvious that constitutes business failures. It looks at the causes, limitations and possible solutions to business malfunction. The views are strengthened by comments made by learned scholars on the issue of establishing, growing and maintaining a successful business. Despite having what seems to be ‘unlimited’ resources, businesses do fail; despite new inventions, businesses do fail; despite being innovative, businesses do fail; despite having a series of successful (profitable) years, branded quality products and a massive market share, businesses do fail. A recession will cause many businesses to fail. So why do businesses fail? Could the answer could be because businesses are like human beings – they are born, nurtured while they grow but after maturity all sorts of problems starts to show. Some businesses tend to adopt the notion that they know it all and start to experiment; others may become complacent and begin to ‘take their eye off the ball’. This flirting with danger can lead to great success or total failure. This article looks at the common reasons for business failures and encapsulates how to spot the tell-tale signs of collapse and what actions to take to avoid the varied pitfalls.

Comparing Universities’ perception of what their
Students expect and students’ expectations

Dr. Supathanish Termsnguanwong
Marketing Department, Business Administration, Payap University, Thailan

ABSTRACT
This article looks at the awareness of the importance of marketing in four Universities in Chiang Mai. Whilst the study is about marketing the focus is on the awareness of the students’ expectations by the senior staff and other staff of the Universities. The main thesis underpinning this article is that to successfully market themselves the universities should make it their business to know the expectations that the students bring about their universities. If there is “incongruence” or a wide gap between what the students expect and what the senior staff and other staff think what the students expect. There is a danger that the students will feel let down and in the long run it will affect the standing of the Universities. The samples were from Four Universities and a survey method based on a specially designed questionnaire was used. On the whole the Four Universities were not keeping marketing themselves as the academics probably think that they must not “sell” their universities. However when asked if they were getting the quality of students they wanted and the numbers, only Chiang Mai University agreed, the other three did not feel that they were attracting either the quality or the numbers they needed. The Universities did not keep a people and data base of students in terms of age, gender, background, and other data which would give them a better idea of where their students are coming from. The university senior staff and other staffs’ ideas of what their students expected were far from what the students’ really expected. Equally the staffs’ perceptions of the actual experiences of the students were significantly different.

Access to Higher Education in Ghana: Role of Private Higher Educational Institutions

Professor P R Banerjee
 ABRMR, London UK

Isaac Owusu-Dankwa
Breyer State University, USA

ABSTRACT
Education in developing nations faces numerous challenges.  For most developing nations, a major challenge is to provide adequate number of universities and colleges to cater for the numerous students who qualify for such tertiary education.  For long, the government has been the main supplier of such education and with the government facing financial constraints as a result of prevailing economic conditions it has been unable to ensure the expansion of tertiary higher institutions to meet the demand. It is in the prevalence of the above situation that the establishment of faith-based higher educational institutions (universities and colleges) have been embraced.  These have opened up opportunities thus providing alternative choices for qualified students to attain the desired university education.  In addressing the educational challenges of Ghana, faith-based private higher educational institutions have contributed immensely.  The efforts of such institutions can only be commended.

Assessing productivity growth and technical efficiency in Spain’s retail sector: An aggregate sectoral perspective

Justo de Jorge and Cristina Suárez,
University of Alcala, Madrid, Spain

ABSTRACT
This paper analyzes the efficiency and productivity growth of the Spanish retail sector from an aggregate sectoral perspective from 1995 to 2004. The primary interest is on individual comparisons within the Spanish retail sector. For this purpose, DEA methodology is proposed. To test this proposal, a study was carried out using both cross-sectional and panel data. The results obtained in this study confirm that efficiency declined from 1995 to 2004. But, when the role of time is considered, the behavior of the efficiency distribution is different. Productivity growth increased at an average rate of 0.8% per annum over the entire period in the retail sector and, the determinants of the variation in productivity growth will be analyzed here.

Where is the real craic? A resource-based view of authenticity
in Irish pubs

Rodney C. Runyan, Ph.D.
Department of Retailing, Hospitality and Tourism Management
University of Tennessee

ABSTRACT
A relatively recent phenomenon in the retail hospitality industry is themed restaurants. Competition in the industry has always been very intense, with low barriers to entry and fragmentation helping to drive competitive behaviour. This paper uses the Irish Pub in the U.S. as a focal point for examining the concept of competitive advantage from the resource-based view of the firm. The Irish Pub theme offers entrepreneurs a heterogeneous method to compete in a somewhat homogeneous industry. In some areas, using the theme seems to be a valid strategy for gaining advantage. Discussion of how, and management implications are offered.

A User-Oriented Model of Automation for Pharmaceutical Sales Force for Better Productivity

Dr. Sunil Gupta and Ms. Darshana Pangal,
Department of Pharma Management, National institute of Pharmaceutical Education .......& Research (NIPER) GOI. MOHALI, Punjab, India       

ABSTRACT
It is very rightly quoted “Plan the work and work according to plan”. This paper has identified dearth of planning as one of the causes of decrease in sales force effectiveness and proposed automation for call planning as a solution. It is proposed that the sales representative be relieved from the task of planning his work thus allowing him to concentrate on his performance in the doctor’s cabin. Instead of relying on the sales executives plan his work technology should be used for bringing in efficiency into planning. Using automation enables efficient day to day planning and also ensures that the distance traveled by the sales representative is minimum. These has the dual advantage of decreasing the cost incurred by the pharmaceutical company over traveling allowances and also decrease the work load and frustration of sales representative.

New Insights into Store Brand Equity: a Model for Retailers’ brands

Mónica Gómez 
Department of Finance & Marketing Research
Universidad Autónoma de Madrid, Spain
Ángel Fernández
Department of Finance & Marketing Research
Universidad Autónoma de Madrid, Spain
Luis Rubio
Department of Applied Economy
Universidad Autónoma de Madrid, Spain

ABSTRACT
The measurement of brand equity has been one of the most important issues for both academic and marketing practitioners in the last fifteen years. Brand equity is a concept typically applied to the study of national brands in specific product categories. However, the objective of this study is to transfer the formulations related to national brands to an analysis of store brands in order to determine the components which influence the creation of retailer brand value. Our store brand equity model shows significant similarities to those proposed by other authors in the case of manufacturer brands. Brand image generates commitment and confidence, concepts which are correlated and positively influence the creation of brand loyalty, which, along with image, directly affects store brand equity.

Marketing Culture, Psychology Wellness, Ethical Climate, Service Performance and Loyalty

Dr Andrew Musiime
Makerere University Business School, Uganda
Dr Joseph Ntayi
Makerere University Business School, Uganda
Dr Palto Ranjan Datta
London College of Management Studies, UK
Musigire Samuel
Makerere University Business School, Uganda

ABSTRACT
This study examines the concept of culture with a view of establishing the relationship between marketing culture and customer loyalty. The main objectives were to examine the structure of the actual marketing culture in the banking industry, analyse employee perception of marketing culture; the relationship between marketing culture & Customer loyalty and analyze the prediction potential of marketing culture to customer loyalty. This study undertook a cross sectional survey that involved qualitative and quantitative approaches. The methodological design of the study was co relational in nature. Using a questionnaire of previous studies developed item scales data was collected from a sample of 250 bank customers, and 150 Bank employees in Uganda. The findings provides empirical evidence for less prediction of customer loyalty by marketing culture, psychological wellness & ethical climate especially as respondents indicated poor performance.