Course Contents at a Glance

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The following list shows a summary of the topics covered in this course. To see all of the course pages, visit the Table of Contents.

Module 1:Introduction to Retailing

Describe retailing, the entities involved, and the impact of decisions on a retail business

  • Retailing
  • Supply Chains
  • Challenges in Retailing

Analyze the evolution of the retail industry

  • Historical Changes in Retail
  • Information Systems in Retail
  • Adaptation in Retail

Recognize career opportunities available in the retail businesses

  • Key Roles in a Retail Business
  • Why Working Retail Is Tough
  • Retail Management Requirements
  • Skills of a Retail Manager

Explain the concept of strategic planning within the retail management decision process

  • Microenvironment vs. Macroenvironment
  • Strategic Planning in Retail
  • The Retail Mix
  • The Retailing Concept

Module 2: Retail Environment Analysis

List the classification characteristics of various types of retailers by ownership

  • Structural Organization of Retailers
  • Advantages and Disadvantages of Retailer Types

Categorize the wide-variety of food retailers

  • Changes in Food Retailing
  • Variety and Assortment of Goods in Food Retail
  • Current Trends in Food Retail

Compare and contrast service and merchandise retailers

  • Assortment Levels and Types of Retailers
  • Types of Service Retailers

Discuss store-based strategy mixes

  • Wheel of Retailing
  • Scrambled Merchandising
  • Evolving Through Mergers, Diversification, and Downsizing

Evaluate the elements of a competitive analysis

  • Obtaining Information on Competition
  • NAICS Codes and Direct Competitors

Module 3: Multi-Channel Retailing

Introduction to Single Channel, Multi-Channel, and Omni-Channel Retailing

  • Describing Retailers and Channels
  • Single Channel, Multi-Channel, and Omni-Channel Retailing
  • Key Differences Between Single Channel, Multi-Channel, and Omni-Channel Retailing

Describe a wide variety of non-store retail channels

  • Retailers and Non-store Channel Types
  • Comparison of Store, Catalog, and Internet Channels

Discuss the rise of electronic retailing through the internet

  • Role of the Web to Retailers
  • Advantages and Disadvantages of Electronic Retailing
  • Mobile Apps and Customer Interaction

Recognize the challenges faced by multichannel retailers and how retailers must adapt

  • Multichannel Factors to Consider
  • Customer Impressions and the Seamless Experience
  • Data to Support the Multichannel Shopping Experience

Module 4: Identifying and Understanding Customer Behavior

Explain the consumer decision-making process

  • Steps of the Buying Process
  • Conflicting Needs of Customers
  • Information Used in Buying Decisions
  • Multiattribute Model

Identify the various models of buying processes

  • Increasing Sales with Extended Problem Solving
  • Increasing Sales with Limited Problem Solving
  • Habitual Decision-Making

Describe why it is important for retailers to research and understand their customers

  • Target Markets
  • Meeting the Needs of Specific Groups

Summarize the main factors used to describe customers

  • Demographic Measurements
  • Consumer Lifestyle Factors
  • Motivation, Attitude, and Buying Choices

Examine retailer decisions based on target market planning

  • Brand Community
  • Differentiated, Mass, and Concentrated Marketing Strategies
  • Predicting a Retail Strategy Mix

Module 5: Strategic Retail Planning and Management

Explain the importance of strategic planning to retailers

  • Steps of Retail Strategy Planning
  • Visions and Missions
  • Decisions and Strategy

Describe step-by-step how retailers create a strategic plan

  • Situation Analysis
  • Short and Long-Run Objectives
  • Target Market Techniques
  • Key Variables in Planning
  • Tactical Decisions
  • Retail Audits

Examine possible opportunities that can arise from strategic planning

  • The Feedback Process
  • Building a Competitive Advantage
  • Retail Growth Opportunities

Module 6: Trade-Area Analysis and Site Selection

Explain the significance of selecting a store location

  • Environmental Analysis
  • Data Analysis for Location Selection
  • Location Effects on Planning

Analyze the characteristics of a retail trading area

  • U.S. Census Bureau and Demographic Data
  • GIS and Location Decisions
  • Factors in Analyzing Trading Area

Examine the variety of locations available to retailers

  • Comparing Location Benefits

Summarize the factors considered in site selection decisions

  • Evaluating Site Characteristics
  • Influence of Societal Views
  • Huff Gravity Model
  • Common Lease Types

Module 7: Information Systems in Retail and CRM Software

Explain why retailers need a centralized data hub

  • Methods to Gather Information
  • Retail Information Systems
  • Data Warehousing and Data Mining
  • UPC, RFID, and QR Codes

Explore the use of information systems to manage the supply chain

  • Supply Chains
  • Flow of Goods
  • Sales and Information Systems
  • Supplier and Retailer Coordination

Discuss how customer shopping data is collected

  • CRM
  • Customer Database
  • Collecting Identifying Information
  • Privacy Issues

Examine the objectives for analyzing the customer database

  • Identifying Best Customers
  • Goals of Data Analysis
  • Frequent-Shopper and Rewards Programs
  • Customer Retention Techniques

Module 8: Retail Human Resources

Describe the organizational patterns of a retail business

  • Organizational Structure and Employee Activities
  • Retailer Structures
  • Divisions of a Retail Business

Discuss the overarching requirements of human resource management

  • Performance Measures
  • Steps of Human Resource Management
  • Challenges in Human Resource Management

Explain how retailers can attract the best employees

  • Recruiting Talent
  • Developing Star Employees
  • Motivating Employees
  • Diverse and Inclusive Workforce

Examine legal issues involved in human resource management

  • Laws Vs. Ethics
  • Equal Employment Opportunity Law
  • Employee Health and Safety Laws
  • Sexual Harassment Laws
  • Web Retailing Laws

Module 9: Financial Strategies in Retail

Use strategic profit modeling to create a financial plan

  • Financial Goals
  • Profit-and-Loss Statements
  • Performance Objectives and Measurements

Explain how an income statement is used to evaluate a profit management path

  • Sales, Costs, and Expenses
  • Gross Margin Percentage
  • Net Profit Margin

Explain how a balance sheet is used to evaluate an asset management path

  • Assets and Liabilities
  • Asset Turnover Rate
  • Return on Assets
  • Key Ratios

Explain the purpose and logistics of budgeting and cash flow

  • Budget Preparation
  • Zero-Based vs. Incremental Budgeting
  • Ongoing Budgeting Process
  • Seasonality and Cash Flow

Module 10: Retail Operations: Managing the Store

Explain how retailers find the best personnel

  • Screening Prospective Employees
  • Interviewing Prospective Employees
  • Training New Employees

Explain how retailers keep the best personnel

  • Employees Evaluations and Feedback
  • Rewards and Compensation Plans
  • Strong Leader Qualities

Describe the operating functions that can reduce costs

  • Employee Scheduling
  • Store Maintenance
  • Reducing Inventory Shrinkage

Module 11: Merchandise Management

Identify the important aspects of merchandise planning and management

  • Merchandise Management
  • Retail Buying Organizations
  • Merchandise Buying Systems

Examine the merchandise planning process

  • Forecasting Sales Numbers
  • Merchandise Assortment Options
  • Inventory Levels
  • Merchandise Flow
  • Merchandise Allocations
  • Merchandising Decisions

Outline the considerations taken by retailers when buying merchandise

  • Brand Selection
  • Sourcing Decisions
  • Negotiations
  • Building Partner Relationships
  • Ethical and Social Responsibilities

Module 12: Place: Retail Pricing and Sales Strategies

Identify how pricing fits into the goals of a retail establishment

  • Defining Value
  • Retail Pricing Strategies
  • Pricing and the Retail Mix

Explain how retailers determine pricing objectives

  • External Factors and Retail Pricing
  • Pricing Strategies
  • Price Elasticity
  • Price Elasticity Calculations

Use various pricing methods to determine product pricing

  • Cost-Oriented Pricing Equations
  • Break-Even Point
  • Competition-Oriented Pricing
  • Demand-Oriented Pricing

Examine common price adjustment techniques

  • Markdown Optimization Software
  • Reducing Product Markdowns
  • Liquidating Markdown Merchandise

Examine pricing techniques used by retailers to increase sales and profits

  • Price Discrimination
  • Loss Leader
  • Price Lining
  • History of Odd Pricing

Module 13: Retail Image: Layout and Visual Merchandising

Identify the key objectives of good store design

  • Design and the Shopping Experience
  • Design and Sales
  • Design and Costs

Explain the value of a thoughtful store layout

  • Customer Shopping Behaviors
  • Store Layout Designs
  • Product Layout

Illustrate how the store environment can create a rewarding shopping experience

  • Store Exterior
  • Presentation Techniques
  • Store Interior Design

Use nonstore-retailing atmospheric principles to analyze current web retailers

  • Characteristics of Retailing Websites
  • Online Store Design
  • User Experience
  • Pros and Cons of an Online Store

Module 14: Integrated Marketing Communications and Promotions

Explore the concept of integrated marketing communications and retail promotions

  • Customer Communication
  • Integrated Marketing Communications
  • Media Elements
  • Budget Calculations

Explain how retailers build a brand image and increase customer loyalty by using communication programs

  • Brand Equity
  • Marketing Communication Program (SMART)

Evaluate the key elements of the integrated marketing communications mix

  • Advertising in Retail
  • Sales Promotions in Retail
  • Direct Marketing in Retail
  • Online Media and Retail
  • Social Media and Retail
  • Other Media Elements

Module 15: Customer Service Strategies

Identify how retailers can use excellent customer service as a differentiation tool

  • Customer Service
  • Customer Profiles
  • Offered Services
  • Personalized vs. Standardized Service

Explain the key components of the customer evaluation process

  • Perception vs. Expectation
  • Service Quality Perceptions
  • Customer Expectations

Discuss the gap model of service quality

  • Gap 1: Customer Expectation vs. Management Perception
  • Gap 2: Management Perception vs. Quality Specifications
  •  Gap 3: Quality Specifications vs. Service Delivery
  • Gap 4: Service Delivery vs. External Communications
  • Gap 5: Actual Performance vs. Perceived Service Gap