This edition of the standard text has been updated to provide a comprehensive introduction to first- and second year students of retailing. Stresses professional management of multi-unit retailing institutions and emphasizes the importance of financial and marketing strategies for profitability. Detailed case studies give readers real-world examples of business at work, taken from actual Management Horizons' consulting work. Chapters discuss the theoretical foundations of retailing management, the theory of change in retailing, the relation of marketing theory and the marketing concept in general to retailing in particular, the difference between marketing for manufacturing firms and for retailing firms, the consumer environment, and consumer behavior. Text contains more statistics, data, and teachable and testable material than before. Includes material on site location and store layout and design.