Retail Management - Ayushee Muley's Notes
1. Electronic Payment:
Electronic payment or digital payment is a paperless transfer of money online. Introduced in India in
the late 1980s.
Types: Credit Card, Debit Card, Smart Card, E-Money, Electronic Fund Transfer.
Advantages: Reduces labor cost, time consumption, safer than cash, convenient, increases clients.
Disadvantages: Risk of online fraud, privacy issues, dependent on internet.
2. E-Tailing:
Selling goods/services to customers online through websites/apps. Started in 1990s with Amazon,
eBay.
Advantages: Time saving, global reach, convenience, lower cost, 24x7 availability.
Disadvantages: Requires internet, privacy issues, scams, tech glitches.
Types: Pure-play, Click & Mortar.
3. Reverse Marketing:
Attracting customers through engagement and campaigns rather than approaching them directly.
Examples: Dove (confidence), Nike (athletic motivation).
Objectives: Curiosity, awareness, brand image, loyalty, long-term relation.
4. Transaction Processing System (TPS):
Real-time or batch processing system to store and manage large data volumes. Used in airlines,
retail, banks.
Advantages: Better data management, accuracy, cost-effective, efficient operations.
5. Website Development Process:
Steps: Requirement Analysis -> Planning -> Designing (UI/UX) -> Development (HTML, JS, C++) ->
Integration -> Testing -> Launch & Maintenance.
6. E-Commerce vs E-Business:
E-Commerce: Buying/selling online; part of E-business.
E-Business: Broader; includes operations, CRM, etc.
E-Commerce = Short-term, external focus | E-Business = Long-term, internal + external.
7. Traditional vs E-Commerce:
Traditional: Physical, limited reach, fixed hours, high cost.
E-Commerce: Online, global, 24x7, low cost, more accurate.
8. Cost-Effective E-Marketing:
Low-cost, high-return methods: Email marketing, Social media, SEO, Influencer marketing, Content
creation.
9. Organized vs Unorganized Retailing:
Organized: Registered, legal, digitalized, sells branded products (e.g. Amazon).
Unorganized: Informal, local goods, family-run (e.g. hawkers).
Importance: Digital economy, better service, trust, tax compliance.
10. Retail Management:
Process: Planning -> Buying -> Inventory -> Visual Merchandising -> Sales.
Types:
Fixed retailers: Small (general store), Large (supermarket).
Moving retailers: Hawkers, vendors, cheap jacks.
11. Multichannel Retail:
Using separate platforms (app, website, store, social media) not linked. Boosts reach but needs
inventory control.
12. Consumer Behaviour:
Study of buying patterns, influenced by psychological, cultural, social, economic, personal factors.
Steps: Problem -> Research -> Evaluation -> Purchase -> Post-Purchase.
13. Consumer vs Buyer Behaviour:
Consumer: Uses product (emotional aspect).
Buyer: Purchases product (logical aspect).
14. Marketing Mix (7Ps, 4Cs):
7Ps: Product, Price, Place, Promotion, People, Process, Physical Evidence.
4Cs: Cost, Convenience, Communication, Customer Solution.
15. Pricing Strategies:
Penetration, Skimming, Cost-Plus, Value-Based, Dynamic.
16. Growth Strategies:
Market Penetration, Market Development, Product Development, Diversification.
17. Segmentation Types:
Demographic, Geographic, Psychographic, Behavioural.
Advantages: Targeting, brand loyalty, expansion.
18. Service Retailing:
Intangible, inseparable, perishable, variable.
Types: Full-service, Assorted-service, Self-service.
19. Service Triangle:
Company <-> Customer (external mktg)
Company <-> Employee (internal mktg)
Employee <-> Customer (interactive mktg)
20. Merchandising:
Choosing, buying, and displaying products to boost sales.
Types: Product, Visual, Digital, Retail, Omnichannel.
21. Visual Merchandising:
Art of displaying products attractively.
Advantages: Customer satisfaction, brand image.
Disadvantages: Costly, needs skilled staff.
22. Planogram:
Shelf diagram for product placement.
Benefits: Inventory control, better sales, space optimization.
