MARK 468 RETAIL AND CHANNEL MANAGEMENT Professor: Dr. Kyle B. Murray Office: 2-32K Business Building Phone (University): 780-248-1091 E-mail: kyle.murray@ualberta.ca Web Page: http://www.kylemurray.com Twitter: @KyleBMurray COURSE OVERVIEW This course is designed to provide an intensive introduction to retail marketing management. Emphasis will be placed on the application of the theoretical concepts to practical marketing situations. This course is intended to accomplish two related objectives: 1. Improve your understanding of the current and evolving nature and role of retail marketing in the overall marketplace. 2. Improve your ability to identify, appraise, and formulate retail marketing strategies that result in profitable performance. Throughout the course, it is expected that you will make an extra effort to visit stores, retail websites, etc. and to pay close attention to ongoing developments in retailing. REQUIRED READINGS Murray, Kyle (2013). The Retail Value Proposition: Crafting Unique Experiences at Compelling Prices. Toronto, Ontario: Rotman University of Toronto Press. GRADING The final grades in the course will be based roughly on the following schedule: Grade Grade Point Percentage (%) Description Value A+ 4.0 95%-100% Outstanding A 4.0 90%-94% Excellent A- 3.7 85%-89% Very Good Performance B+ 3.3 80%-84% Good Performance B 3.0 75%-79% Satisfactory Performance B- 2.7 70%-74% Less than Satisfactory C+ 2.3 65%-69% Minimum Pass (Alberta) For more information on the University of Alberta s Assessment and Grading Policy please see: https://policiesonline.ualberta.ca/policiesprocedures/pages/disppol.aspx?pid=101 1
EVALUATION ***Late assignments will be decreased by 10% for each day late. Class Participation In-Class Discussions 10% Blog Post 15% Students will be assigned to either January 31 st or February 14 th, 2014 Simplified Assortment Brief 25% Due March 7 th, 2014 Final Project Presentation 20% See Course Schedule below Written Project 30% Due April 11 th, 2014 Overall 100% In-Class Discussions A valuable classroom experience requires rigorous preparation and high-quality class discussion. Please note that my emphasis will be more on quality than quantity. Negative contributions such as absence without notice, lack of preparation, negative comments, weak positions and weak defenses will lower your contribution grade. You are expected to attend guest speakers presentations, including your peers final project presentations, and to be prepared with relevant questions and comments. Blog Post This is an individual assignment. You are expected to complete one post to the class blog during the course. The post should address an important news item or recent topic of interest to retailing. Your grade for your post will be based on 1) how relevant it is to the class and 2) how well you integrate concepts from the course into the post, as well as 3) how effective you are at expressing your own opinions and point of view in your postings. You are also free to post additional material and comment on the posts of others; however, such posts will not factor into your grade. Posting prior to the deadline is encouraged. Simplified Assortment Brief -- Canadian Tire Bicycles This is an individual assignment that will provide you with an opportunity to apply what we cover in the buying and category management portions of the course. Specifically, you will be asked to make an assortment decision for the bicycle category at Canadian Tire. Students are to advise the instructor immediately if they have previously read the Canadian Tire Corporation, Bicycle Category case or discussed it in another course. Failure to advise the instructor of previous exposure to this case would be grounds for a charge of academic misconduct. Students are not to have access to the teaching notes for this case, and any evidence that the teaching notes were available to the student would also be grounds for a charge of academic misconduct. 2
Final Project Retail Observation & Analysis This group project is designed to provide you with an opportunity to examine retail marketing management in practice. You will be required to spend some time observing a retail operation, analyzing its customers behavior, and reverse engineering the store s retail value proposition. More details on this project will be provided in class. Guest Speakers & Final Project Presentations Guest speakers are an integral part of learning in this course. Each guest has been chosen for his or her unique ability to contribute to our learning. It is important that you make every effort to attend these lectures and to actively engage our guests in discussion. Please be kind and courteous to our guests. Feedback on these lectures and speakers is appreciated all such correspondence will be treated confidentially and should be addressed directly to Dr. Murray. Your classmates should be treated as guest speakers when they are presenting their final projects. Please come prepared to engage in a discussion of others projects your comments and constructive criticisms are encouraged. You will have the opportunity to provide your assessment of the projects to Dr. Murray. EXPECTATIONS You are expected to be fully engaged in the entire learning process. This means devoting time and energy to preparation before class, listening to others during class discussions and engaging in class discussions. Using your computer during class for personal activities such as reading/writing email, writing letters, surfing the Web, playing games, etc. is also distracting and counter productive and violates our norms. Audio or video recording of lectures, labs, seminars or any other teaching environment by students is allowed only with the prior written consent of the instructor or as a part of an approved accommodation plan. Recorded material is to be used solely for personal study, and is not to be used or distributed for any other purpose without prior written consent from the instructor. APPOINTMENTS I do not have set office hours. However, I do strive to be available to any student who wants to speak with me. I ask that you send me a short e-mail (kyle.murray@ualberta.ca) that outlines your questions/concerns and allows us to arrange a convenient time to meet. It helps me be fully prepared to give you appropriate feedback and advice, and it makes for a much more productive interaction. 3
ACADEMIC INTEGRITY The University of Alberta is committed to the highest standards of academic integrity and honesty. Students are expected to be familiar with these standards regarding academic honesty and to uphold the policies of the University in this respect. Students are particularly urged to familiarize themselves with the provisions of the Code of Student Behavior (online at http://www.governance.ualberta.ca/codesofconductandresidencecommunitystandards/codeofstudentb ehaviour.aspx) and avoid any behavior that could potentially result in suspicions of cheating, plagiarism, misrepresentation of facts and/or participation in an offence. Academic dishonesty is a serious offence and can result in suspension or expulsion from the University. All factual information taken from other sources (books, web pages, papers, etcetera) must be referenced in submitted work. Please consult the calendar for information regarding these behaviours. Some of the specific definitions may be found on http://www.governance.ualberta.ca/studentappeals/dontcheatsheet.aspx. 4
COURSE SCHEDULE (Before Reading Week) DATE TOPIC Week 1 Jan 6-10 Course Introduction v Course Requirements & Expectations v The Retail Value Proposition o READING: Chapter 1 Crafting Value ª GUEST SPEAKER: Craig Patterson, Retail Insider Week 2 Jan 13-17 The Store v Actionable Customer Segmentation o READING: Chapter 2 Segmentation & Differentiation v Locations & Formats o READING: Chapter 3 Locations & Formats Week 3 Jan 20-24 The Science of Shopping v Shopper Marketing & Shelf Space Management o READING: Chapter 4 Inside the Store ª GUEST SPEAKER: Troy Dashney, Oxford Properties Week 4 Jan 27-31 Walking the Store v Walking the Store: Retail Observation v Traffic and Conversion ª GUEST SPEAKER: Mark Ryski, CEO, HeadCount ü Blog Post is Due for Students in Group 1 on January 31 st Week 5 Feb 3-7 Multi-Channel & Interactive Electronic Retailing v Beyond the Store: Multi-Channel Retailing o READING: Chapter 5 Interactive Electronic Retailing v New Media Communications Week 6 Feb 10-14 Retail Buying v Buying & Trend Management: Fads, Fashions and Staples o READING: Chapter 6 Buying & Merchandise Management v Private Labels versus National Brands ª GUEST SPEAKER: Lina Heath, President, Eveline Charles ü Blog Post is Due for Students in Group 2 on February 14 th READING WEEK February 17-21 5
COURSE SCHEDULE (After Reading Week) DATE TOPIC Week 7 Feb 24-28 Category Management v The Process of Category Management o READING: Chapter 7 Category Management ª GUEST SPEAKER: TBA Week 8 Mar 3-7 Customer Portfolio Management v Satisfaction & Relationship Management o READING: Chapter 8 Managing Customer Relationships ª GUEST SPEAKER: Pepsi Foods ü Simplified Assortment Brief on Canadian Tire Bicycles is Due March 7 th Week 9 Mar 10-14 Customer Valuation & Loyalty Marketing v RFM Models & Customer Lifetime Value o READING: Chapter 9 Customer Valuation v Loyalty Programs o READING: Chapter 10 Customer Loyalty Week 10 Mar 17-21 Getting the Price Right v In-Class Q&A for Final Projects v Retail Pricing o READING: Chapter 11 Retail Pricing ª GUEST SPEAKER: Pepsi Beverages Week 11 Mar 24-28 Small Independent Retail v Minding the Store, Forgetting the Customers o READING Chapter 12 Propositions: Pitfalls and Potential ª GUEST SPEAKER: Curtis Gratton, Loblaws ª GUEST SPEAKER: Jenn Grimm, Founder, Lux Beauty Week 12 Mar 31 Apr 4 FINAL PROJECT PRESENTATIONS Week 13 April 7-9 FINAL PROJECT PRESENTATIONS 6
MAJOR COMPONENTS OF THE FINAL PROJECT Retail Value Proposition We are looking for observations that provide insight into each component of the retail value proposition: - Environment - Selection - Engagement - Price We are also looking for an overall explanation of why the store is particularly effective (or ineffective) at delivering value to their customers. In-Store Observations - Who are the customers? Are they satisfied? Personas? Angels versus demons? - Use of metrics and other observational data - Are the metrics chosen relevant and determined in an appropriate way? Observation is at the heart of this project. No credit is given for data or conclusions based on data that was not observed (or observable). There may be a few rare exceptions where additional data is required to put observations in context, but grading will be determined by students observations of the retailer s RVP. E-Commerce & Social Media Audit - Based on concepts from class especially Week 5, Chapter 5 analyze the retailer s e-commerce and social media initiatives. - Does the retailer sell products online or through mobile devices? - Does the retailer have an effective social media presence? Recommendations - Short-term recommendations should be based on observation and address tactics that have the potential to impact the retailer s revenue and profitability in the near term - Long-term recommendations should be based on observation and address strategies that have the potential to impact the retailer s revenue and profitability over the longer term Overall Integration of Course Concepts - An overall impression of the project s quality - Other course concepts integrated into the paper that may not fall directly into the areas above 7