Page 4 - DMGT554_RETAIL_BUYING

SYLLABUS
Retail Buying

Objectives: To make students learn and understand the roles and responsibilities of a Buying Manager which include:

 Formulate a retail buying strategy
 Procure merchandise with a customer focus
 Build an effective product range
 Establish and maintaining effective supplier relationships

 Provide an effective product analysis
S. No. Description
1. The buyer’s role, Buying for traditional retail organizations, Buying for discount operations
2. Buying for off-price retail operations, Buying for off-site retail operations

3. The market specialists and how they service retailers
4. Consumer analysis, Merchandise sourcing and timing for purchase

5. Deciding what and how much to buy
6. Purchasing in the domestic and foreign marketplace
7. Wholesale purchasing on the internet, Negotiating the purchasing and writing

8. Merchandise pricing

9. The development of private label brands and labels

10. Disseminating product information to retail personnel