OverviewRetailing Management, Tenth Edition, highlights the many ways the retail industry has transformed and evolved over the past four years. This text is the only retail management educational product in the market that offers a premium digital content companionMcGraw-Hill Connectto provide best-in-class training. In keeping with its market-leading tradition, this tenth edition focuses on key strategic issues with an emphasis on financial considerations and implementation through merchandise and store management. Strategic and tactical issues are examined for a broad spectrum of retailers, both large and small, domestic and international, selling both merchandise and services. In preparing this edition, the authors focused on five important factors that delineate outstanding retailers:
•The use of big data and analytical methods for decision making.
•The application of social media and mobile channels for communicating with customers and enhancing their shopping experience.
•The issues involved in providing a seamless multichannel experience for customers.
•The engagement in the overarching emphasis on conscious marketing and corporate social responsibility when making business decisions.
•The impact of globalization on the retail industry.
This edition builds on the basic philosophy of the previous editions but every example, fact, and key term has been checked, updated, or replaced to ensure that this cutting-edge product remains up to date. Because the authors realize that retailing is taught in a variety of formats, a comprehensive supplemental package for instructors is provided, as well as a comprehensive online instructor's manual with additional cases and teaching suggestions. In keeping with the authors' goal of providing a "good read" for students, the conceptual material continues to be supported with interesting, current, real-world retailing examples.
To facilitate student learning, the presentation has been streamlined, both visually and pedagogically-for example, based on reviewer comments, the chapters on human resource management and store management have been combined. The unique features of McGraw-Hill's Connect support students and offer instructors a proven, effective, and expedient path to engaging and educating their students.
New to This Edition
•Introductory vignettes provide an example of how a stellar retailer can be particularly successful by excelling in the subject area for that particular chapter.
•Retailing views provide new and updated stories that describe how particular retailers deal with the issues raised in each chapter.
•New cases highlight concepts and theories.
•A regularly updated blog contains relevant, in-the-news content related to the course material, summaries, and discussion questions of recent retailing articles-all of which are associated with specific chapters so that instructors can use them to stimulate class discussion.
•Graphics in each chapter provide critical, up-to-date information and lively visuals; almost all of the photos are new to this edition.
•Multimedia content, such as videos, simulations, and games, drive student engagement and critical-thinking skills.
•Instructors and students gain practical experience by applying the concepts and theories using the Get Out and Do It features at the end of each chapter; these exercises suggest projects that students can undertake by visiting local retail stores or surfing the Internet.
•Continuing assignment exercise engage students in an exercise involving the same retailer throughout the course to provide a hands-on learning experience.
Author(s)Dhruv Grewal received a Ph.D. from Virginia Tech and is the Toyota Chair in Commerce and Electronic Business and professor of marketing at Babson College. His academic interests focus is on marketing foundations and research, retailing, pricing, and value-based strategies. Dr. Grewal was awarded the 2005 Lifetime Achievement in Behavioral Pricing Award by Fordham University and was listed in the World's Most Influential Scientific Minds by Thomson Reuters in 2014. He is a coauthor of Marketing Research, has published more than 70 articles in leading journals, and serves on numerous editorial boards. Dr. Grewal is a recipient of the 2005 Sherwin-Williams Distinguished Teaching Award, SMA; 2003 AMA Award for Innovative Excellence in Marketing Education; 1999 AMS Great Teachers in Marketing Award; and 1998 Executive MBA Teaching Excellence Award. He has taught executive seminars and joined in research with numerous firms, including IRI, TJX, Radio Shack, Monsanto, McKinsey, and Motorola.
Barton A. Weitz received an undergraduate degree in electrical engineering from MIT and an M.B.A. and Ph.D. in business administration from Stanford University. He was a member of the faculty at the University of California–Los Angeles Graduate School of Business and the Wharton School at the University of Pennsylvania and is JCPenney Emeritus Eminent Scholar Chair in Retail Management in the Warrington College of Business Administration at the University of Florida (UF). Dr. Weitz founded the UF David F. Miller Center for Retailing Education and Research, which is supported by contributions from JCPenney, Macy’s, Walmart, Office Depot, and Home Depot. He has won awards for teaching excellence and published in leading academic journals on channel relationships, electronic retailing, store design, salesperson effectiveness, and sales force and human resource management. Dr. Weitz is past chair of the American Marketing Association and was honored as the AMA/Irwin Distinguished Educator.
Michael Levy received an undergraduate and M.S. degrees in business administration from the University of Colorado at Boulder and a Ph.D. in business administration from Ohio State University. He is the Charles Clarke Reynolds Professor of Marketing Emeritus at Babson College and CEO of RetailProf LLC. Dr. Levy received the inaugural ACRA Academic Lifetime Achievement Award; the 2009 Lifetime Achievement Award, American Marketing Association, Retailing Special Interest Group; the Babson Faculty Scholarship Award; and the Distinguished Service Award, Journal of Retailing. Marketing Educator rated him one of the best researchers in marketing. Dr. Levy has published more than 50 articles in leading marketing and logistics journals and is co-author of the sixth edition of Marketing. He has performed research projects with major retailers and retail technology firms, including Accenture, Federated Department Stores, Khimetrics, Mervyn’s, Neiman Marcus, ProfitLogic, and Zale Corp.
This book was adopted by:
Austin Community College
California State University - Los Angeles
Coastal Carolina University
College of the Canyons
Cumberland County College
DePaul University - Loop
Ferris State University
Genesee Community College (SUNY)
Jacksonville State University
Lone Star College - Cy Fair
Louisiana State University
Midlands Technical College- Airport Campus
Mississippi State University
Ohio Northern University
Pace University - New York City
Pacific Union College
Penn State University Erie, The Behrend College
Rutgers University Newark
Rutgers, The State University of New Jersey
Saint Louis University
Sam Houston State University
Santa Clara University
TCC – CLM Form
TCC – Connect
TCC – Northeast
TCC – Northwest
TCC – South
TCC – Southeast
TCC – Trinity River
Texas A&M University - Kingsville
University of Akron
University of Akron - Polsky
University of Alabama at Birmingham
University of North Carolina at Greensboro
University of South Carolina
Table of Contents
SECTION I THE WORLD OF RETAILING
1 Introduction to the World of Retailing
2 Types of Retailers
3 Multichannel and Omnichannel Retailing
4 Customer Buying Behavior
SECTION II RETAILING STRATEGY
5 Retail Market Strategy
6 Financial Strategy
7 Retail Locations
8 Retail Site Location
9 Information Systems and Supply Chain Management
10 Customer Relationship Management
SECTION III MERCHANDISE MANAGEMENT
11 Managing the Merchandise Planning Process
12 Buying Merchandise
13 Retail Pricing
14 Retail Communication Mix
SECTION IV HUMAN RESOURCES AND STORE MANAGEMENT
15 Human Resources and Managing the Store
16 Store Layout, Design, and Visual Merchandising
17 Customer Service
SECTION V CASES