In this exceptionally competitive environment, the majority of retailers are still small to medium sized businesses – many operated by entrepreneurs with little training or education for the task. To survive, operators continually need managers who are familiar with retail operations to survive and become profitable. Students will develop a retail plan that is competitive in the environment.
Learning Objectives
Describe how the consumers’ decision process affects retailers
Understand how changes in operational variables (e.g., price, COGS, demand, expenses) affect profit
Describe how technology in retailing affects all channel members
Understand both the theory and practice of pricing merchandise at the retail level – Markups, Margins, Bundle Pricing, and Rebates
Develop a retail strategy that appeals to a specific target market
Course Outline
Lesson 1: Introduction to the Retailing and Retail Types
Lesson 2: Responding to and Targeting Consumers
Lesson 3: Developing a Retail Strategy
Lesson 4: Location Analysis
Lesson 5: Store Layout and Design
Lesson 6: Merchandising and Assortment Planning
Lesson 7: Pricing Mechanics/Pricing Promotions
Lesson 8: Margin Accelerators/Strategic Profit Model
Lesson 9: Human Resource Management
Lesson 10: Promotions and Advertising in Retailing
