{"id":3246,"date":"2018-07-10T22:50:36","date_gmt":"2018-07-10T22:50:36","guid":{"rendered":"https:\/\/courses.lumenlearning.com\/wm-retailmanagement\/chapter\/course-contents-at-a-glance\/"},"modified":"2024-04-25T02:32:55","modified_gmt":"2024-04-25T02:32:55","slug":"course-contents-at-a-glance","status":"publish","type":"chapter","link":"https:\/\/courses.lumenlearning.com\/wm-retailmanagement\/chapter\/course-contents-at-a-glance\/","title":{"raw":"Course Contents at a Glance","rendered":"Course Contents at a Glance"},"content":{"raw":"<img class=\"aligncenter wp-image-220\" src=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images\/wp-content\/uploads\/sites\/2986\/2018\/07\/10225035\/binoculars2.png\" alt=\"decorative image\" width=\"250\" height=\"142\" \/>\r\n\r\nThe following list shows a summary of the topics covered in this course. To see all of the course pages, visit the\u00a0<a href=\"https:\/\/courses.lumenlearning.com\/wm-retailmanagement\" target=\"_blank\" rel=\"noopener\">Table of Contents<\/a>.\r\n<h2>Module 1:Introduction to Retailing<\/h2>\r\n<h3>Describe retailing, the entities involved, and the impact of decisions on a retail business<\/h3>\r\n<ul>\r\n \t<li>Retailing<\/li>\r\n \t<li>Supply Chains<\/li>\r\n \t<li>Challenges in Retailing<\/li>\r\n<\/ul>\r\n<h3>Analyze the evolution of the retail industry<\/h3>\r\n<ul>\r\n \t<li>Historical Changes in Retail<\/li>\r\n \t<li>Information Systems in Retail<\/li>\r\n \t<li>Adaptation in Retail<\/li>\r\n<\/ul>\r\n<h3>Recognize career opportunities available in the retail businesses<\/h3>\r\n<ul>\r\n \t<li>Key Roles in a Retail Business<\/li>\r\n \t<li>Why Working Retail Is Tough<\/li>\r\n \t<li>Retail Management Requirements<\/li>\r\n \t<li>Skills of a Retail Manager<\/li>\r\n<\/ul>\r\n<h3>Explain the concept of strategic planning within the retail management decision process<\/h3>\r\n<ul>\r\n \t<li>Microenvironment vs. Macroenvironment<\/li>\r\n \t<li>Strategic Planning in Retail<\/li>\r\n \t<li>The Retail Mix<\/li>\r\n \t<li>The Retailing Concept<\/li>\r\n<\/ul>\r\n<h2>Module 2: Retail Environment Analysis<\/h2>\r\n<h3>List the classification characteristics of various types of retailers by ownership<\/h3>\r\n<ul>\r\n \t<li class=\"chapter standard\">Structural Organization of Retailers<\/li>\r\n \t<li class=\"chapter standard\">Advantages and Disadvantages of Retailer Types<\/li>\r\n<\/ul>\r\n<h3>Categorize the wide-variety of food retailers<\/h3>\r\n<ul>\r\n \t<li>Changes in Food Retailing<\/li>\r\n \t<li>Variety and Assortment of Goods in Food Retail<\/li>\r\n \t<li>Current Trends in Food Retail<\/li>\r\n<\/ul>\r\n<h3>Compare and contrast service and merchandise retailers<\/h3>\r\n<ul>\r\n \t<li>Assortment Levels and Types of Retailers<\/li>\r\n \t<li>Types of Service Retailers<\/li>\r\n<\/ul>\r\n<h3>Discuss store-based strategy mixes<\/h3>\r\n<ul>\r\n \t<li>Wheel of Retailing<\/li>\r\n \t<li>Scrambled Merchandising<\/li>\r\n \t<li>Evolving Through Mergers, Diversification, and Downsizing<\/li>\r\n<\/ul>\r\n<h3>Evaluate the elements of a competitive analysis<\/h3>\r\n<ul>\r\n \t<li>Obtaining Information on Competition<\/li>\r\n \t<li>NAICS Codes and Direct Competitors<\/li>\r\n<\/ul>\r\n<h2><strong>Module 3: Multi-Channel Retailing<\/strong><\/h2>\r\n<h3>Introduction to Single Channel, Multi-Channel, and Omni-Channel Retailing<\/h3>\r\n<ul>\r\n \t<li>Describing Retailers and Channels<\/li>\r\n \t<li>Single Channel, Multi-Channel, and Omni-Channel Retailing<\/li>\r\n \t<li>Key Differences Between Single Channel, Multi-Channel, and Omni-Channel Retailing<\/li>\r\n<\/ul>\r\n<h3>Describe a wide variety of non-store retail channels<\/h3>\r\n<ul>\r\n \t<li>Retailers and Non-store Channel Types<\/li>\r\n \t<li>Comparison of Store, Catalog, and Internet Channels<\/li>\r\n<\/ul>\r\n<h3>Discuss the rise of electronic retailing through the internet<\/h3>\r\n<ul>\r\n \t<li>Role of the Web to Retailers<\/li>\r\n \t<li>Advantages and Disadvantages of Electronic Retailing<\/li>\r\n \t<li>Mobile Apps and Customer Interaction<\/li>\r\n<\/ul>\r\n<h3>Recognize the challenges faced by multichannel retailers and how retailers must adapt<\/h3>\r\n<ul>\r\n \t<li>Multichannel Factors to Consider<\/li>\r\n \t<li>Customer Impressions and the Seamless Experience<\/li>\r\n \t<li>Data to Support the Multichannel Shopping Experience<\/li>\r\n<\/ul>\r\n<h2><strong>Module 4:\u00a0Identifying and Understanding Customer Behavior<\/strong><\/h2>\r\n<h3>Explain the consumer decision-making process<\/h3>\r\n<ul>\r\n \t<li>Steps of the Buying Process<\/li>\r\n \t<li>Conflicting Needs of Customers<\/li>\r\n \t<li>Information Used in Buying Decisions<\/li>\r\n \t<li>Multiattribute Model<\/li>\r\n<\/ul>\r\n<h3>Identify the various models of buying processes<\/h3>\r\n<ul>\r\n \t<li>Increasing Sales with Extended Problem Solving<\/li>\r\n \t<li>Increasing Sales with Limited Problem Solving<\/li>\r\n \t<li>Habitual Decision-Making<\/li>\r\n<\/ul>\r\n<h3>Describe why it is important for retailers to research and understand their customers<\/h3>\r\n<ul>\r\n \t<li>Target Markets<\/li>\r\n \t<li>Meeting the Needs of Specific Groups<\/li>\r\n<\/ul>\r\n<h3>Summarize the main factors used to describe customers<\/h3>\r\n<ul>\r\n \t<li>Demographic Measurements<\/li>\r\n \t<li>Consumer Lifestyle Factors<\/li>\r\n \t<li>Motivation, Attitude, and Buying Choices<\/li>\r\n<\/ul>\r\n<h3>Examine retailer decisions based on target market planning<\/h3>\r\n<ul>\r\n \t<li>Brand Community<\/li>\r\n \t<li>Differentiated, Mass, and Concentrated Marketing Strategies<\/li>\r\n \t<li>Predicting a Retail Strategy Mix<\/li>\r\n<\/ul>\r\n<h2><strong>Module 5: Strategic Retail Planning and Management<\/strong><\/h2>\r\n<h3>Explain the importance of strategic planning to retailers<\/h3>\r\n<ul>\r\n \t<li>Steps of Retail Strategy Planning<\/li>\r\n \t<li>Visions and Missions<\/li>\r\n \t<li>Decisions and Strategy<\/li>\r\n<\/ul>\r\n<h3>Describe step-by-step how retailers create a strategic plan<\/h3>\r\n<ul>\r\n \t<li>Situation Analysis<\/li>\r\n \t<li>Short and Long-Run Objectives<\/li>\r\n \t<li>Target Market Techniques<\/li>\r\n \t<li>Key Variables in Planning<\/li>\r\n \t<li>Tactical Decisions<\/li>\r\n \t<li>Retail Audits<\/li>\r\n<\/ul>\r\n<h3>Examine possible opportunities that can arise from strategic planning<\/h3>\r\n<ul>\r\n \t<li>The Feedback Process<\/li>\r\n \t<li>Building a Competitive Advantage<\/li>\r\n \t<li>Retail Growth Opportunities<\/li>\r\n<\/ul>\r\n<h2><strong>Module 6: Trade-Area Analysis and Site Selection<\/strong><\/h2>\r\n<h3>Explain the significance of selecting a store location<\/h3>\r\n<ul>\r\n \t<li>Environmental Analysis<\/li>\r\n \t<li>Data Analysis for Location Selection<\/li>\r\n \t<li>Location Effects on Planning<\/li>\r\n<\/ul>\r\n<h3>Analyze the characteristics of a retail trading area<\/h3>\r\n<ul>\r\n \t<li>U.S. Census Bureau and Demographic Data<\/li>\r\n \t<li>GIS and Location Decisions<\/li>\r\n \t<li>Factors in Analyzing Trading Area<\/li>\r\n<\/ul>\r\n<h3>Examine the variety of locations available to retailers<\/h3>\r\n<ul>\r\n \t<li>Comparing Location Benefits<\/li>\r\n<\/ul>\r\n<h3>Summarize the factors considered in site selection decisions<\/h3>\r\n<ul>\r\n \t<li>Evaluating Site Characteristics<\/li>\r\n \t<li>Influence of Societal Views<\/li>\r\n \t<li>Huff Gravity Model<\/li>\r\n \t<li>Common Lease Types<\/li>\r\n<\/ul>\r\n<h2><strong>Module 7: Information Systems in Retail and CRM Software<\/strong><\/h2>\r\n<h3>Explain why retailers need a centralized data hub<\/h3>\r\n<ul>\r\n \t<li>Methods to Gather Information<\/li>\r\n \t<li>Retail Information Systems<\/li>\r\n \t<li>Data Warehousing and Data Mining<\/li>\r\n \t<li>UPC, RFID, and QR Codes<\/li>\r\n<\/ul>\r\n<h3>Explore the use of information systems to manage the supply chain<\/h3>\r\n<ul>\r\n \t<li>Supply Chains<\/li>\r\n \t<li>Flow of Goods<\/li>\r\n \t<li>Sales and Information Systems<\/li>\r\n \t<li>Supplier and Retailer Coordination<\/li>\r\n<\/ul>\r\n<h3>Discuss how customer shopping data is collected<\/h3>\r\n<ul>\r\n \t<li>CRM<\/li>\r\n \t<li>Customer Database<\/li>\r\n \t<li>Collecting Identifying Information<\/li>\r\n \t<li>Privacy Issues<\/li>\r\n<\/ul>\r\n<h3>Examine the objectives for analyzing the customer database<\/h3>\r\n<ul>\r\n \t<li>Identifying Best Customers<\/li>\r\n \t<li>Goals of Data Analysis<\/li>\r\n \t<li>Frequent-Shopper and Rewards Programs<\/li>\r\n \t<li>Customer Retention Techniques<\/li>\r\n<\/ul>\r\n<h2><strong>Module 8: Retail Human Resources<\/strong><\/h2>\r\n<h3>Describe the organizational patterns of a retail business<\/h3>\r\n<ul>\r\n \t<li>Organizational Structure and Employee Activities<\/li>\r\n \t<li>Retailer Structures<\/li>\r\n \t<li>Divisions of a Retail Business<\/li>\r\n<\/ul>\r\n<h3>Discuss the overarching requirements of human resource management<\/h3>\r\n<ul>\r\n \t<li>Performance Measures<\/li>\r\n \t<li>Steps of Human Resource Management<\/li>\r\n \t<li>Challenges in Human Resource Management<\/li>\r\n<\/ul>\r\n<h3>Explain how retailers can attract the best employees<\/h3>\r\n<ul>\r\n \t<li>Recruiting Talent<\/li>\r\n \t<li>Developing Star Employees<\/li>\r\n \t<li>Motivating Employees<\/li>\r\n \t<li>Diverse and Inclusive Workforce<\/li>\r\n<\/ul>\r\n<h3>Examine legal issues involved in human resource management<\/h3>\r\n<ul>\r\n \t<li>Laws Vs. Ethics<\/li>\r\n \t<li>Equal Employment Opportunity Law<\/li>\r\n \t<li>Employee Health and Safety Laws<\/li>\r\n \t<li>Sexual Harassment Laws<\/li>\r\n \t<li>Web Retailing Laws<\/li>\r\n<\/ul>\r\n<h2><strong>Module 9: Financial Strategies in Retail<\/strong><\/h2>\r\n<h3>Use strategic profit modeling to create a financial plan<\/h3>\r\n<ul>\r\n \t<li>Financial Goals<\/li>\r\n \t<li>Profit-and-Loss Statements<\/li>\r\n \t<li>Performance Objectives and Measurements<\/li>\r\n<\/ul>\r\n<h3>Explain how an income statement is used to evaluate a profit management path<\/h3>\r\n<ul>\r\n \t<li>Sales, Costs, and Expenses<\/li>\r\n \t<li>Gross Margin Percentage<\/li>\r\n \t<li>Net Profit Margin<\/li>\r\n<\/ul>\r\n<h3>Explain how a balance sheet is used to evaluate an asset management path<\/h3>\r\n<ul>\r\n \t<li>Assets and Liabilities<\/li>\r\n \t<li>Asset Turnover Rate<\/li>\r\n \t<li>Return on Assets<\/li>\r\n \t<li>Key Ratios<\/li>\r\n<\/ul>\r\n<h3>Explain the purpose and logistics of budgeting and cash flow<\/h3>\r\n<ul>\r\n \t<li>Budget Preparation<\/li>\r\n \t<li>Zero-Based vs. Incremental Budgeting<\/li>\r\n \t<li>Ongoing Budgeting Process<\/li>\r\n \t<li>Seasonality and Cash Flow<\/li>\r\n<\/ul>\r\n<h2><strong>Module 10: Retail Operations: Managing the Store<\/strong><\/h2>\r\n<h3>Explain how retailers find the best personnel<\/h3>\r\n<ul>\r\n \t<li>Screening Prospective Employees<\/li>\r\n \t<li>Interviewing Prospective Employees<\/li>\r\n \t<li>Training New Employees<\/li>\r\n<\/ul>\r\n<h3>Explain how retailers keep the best personnel<\/h3>\r\n<ul>\r\n \t<li>Employees Evaluations and Feedback<\/li>\r\n \t<li>Rewards and Compensation Plans<\/li>\r\n \t<li>Strong Leader Qualities<\/li>\r\n<\/ul>\r\n<h3>Describe the operating functions that can reduce costs<\/h3>\r\n<ul>\r\n \t<li>Employee Scheduling<\/li>\r\n \t<li>Store Maintenance<\/li>\r\n \t<li>Reducing Inventory Shrinkage<\/li>\r\n<\/ul>\r\n<h2><strong>Module 11: Merchandise Management<\/strong><\/h2>\r\n<h3>Identify the important aspects of merchandise planning and management<\/h3>\r\n<ul>\r\n \t<li>Merchandise Management<\/li>\r\n \t<li>Retail Buying Organizations<\/li>\r\n \t<li>Merchandise Buying Systems<\/li>\r\n<\/ul>\r\n<h3>Examine the merchandise planning process<\/h3>\r\n<ul>\r\n \t<li>Forecasting Sales Numbers<\/li>\r\n \t<li>Merchandise Assortment Options<\/li>\r\n \t<li>Inventory Levels<\/li>\r\n \t<li>Merchandise Flow<\/li>\r\n \t<li>Merchandise Allocations<\/li>\r\n \t<li>Merchandising Decisions<\/li>\r\n<\/ul>\r\n<h3>Outline the considerations taken by retailers when buying merchandise<\/h3>\r\n<ul>\r\n \t<li>Brand Selection<\/li>\r\n \t<li>Sourcing Decisions<\/li>\r\n \t<li>Negotiations<\/li>\r\n \t<li>Building Partner Relationships<\/li>\r\n \t<li>Ethical and Social Responsibilities<\/li>\r\n<\/ul>\r\n<h2><strong>Module 12: Place: Retail Pricing and Sales Strategies<\/strong><\/h2>\r\n<h3>Identify how pricing fits into the goals of a retail establishment<\/h3>\r\n<ul>\r\n \t<li>Defining Value<\/li>\r\n \t<li>Retail Pricing Strategies<\/li>\r\n \t<li>Pricing and the Retail Mix<\/li>\r\n<\/ul>\r\n<h3>Explain how retailers determine pricing objectives<\/h3>\r\n<ul>\r\n \t<li>External Factors and Retail Pricing<\/li>\r\n \t<li>Pricing Strategies<\/li>\r\n \t<li>Price Elasticity<\/li>\r\n \t<li>Price Elasticity Calculations<\/li>\r\n<\/ul>\r\n<h3>Use various pricing methods to determine product pricing<\/h3>\r\n<ul>\r\n \t<li>Cost-Oriented Pricing Equations<\/li>\r\n \t<li>Break-Even Point<\/li>\r\n \t<li>Competition-Oriented Pricing<\/li>\r\n \t<li>Demand-Oriented Pricing<\/li>\r\n<\/ul>\r\n<h3>Examine common price adjustment techniques<\/h3>\r\n<ul>\r\n \t<li>Markdown Optimization Software<\/li>\r\n \t<li>Reducing Product Markdowns<\/li>\r\n \t<li>Liquidating Markdown Merchandise<\/li>\r\n<\/ul>\r\n<h3>Examine pricing techniques used by retailers to increase sales and profits<\/h3>\r\n<ul>\r\n \t<li>Price Discrimination<\/li>\r\n \t<li>Loss Leader<\/li>\r\n \t<li>Price Lining<\/li>\r\n \t<li>History of Odd Pricing<\/li>\r\n<\/ul>\r\n<h2><strong>Module 13: Retail Image: Layout and Visual Merchandising<\/strong><\/h2>\r\n<h3>Identify the key objectives of good store design<\/h3>\r\n<ul>\r\n \t<li>Design and the Shopping Experience<\/li>\r\n \t<li>Design and Sales<\/li>\r\n \t<li>Design and Costs<\/li>\r\n<\/ul>\r\n<h3>Explain the value of a thoughtful store layout<\/h3>\r\n<ul>\r\n \t<li>Customer Shopping Behaviors<\/li>\r\n \t<li>Store Layout Designs<\/li>\r\n \t<li>Product Layout<\/li>\r\n<\/ul>\r\n<h3>Illustrate how the store environment can create a rewarding shopping experience<\/h3>\r\n<ul>\r\n \t<li>Store Exterior<\/li>\r\n \t<li>Presentation Techniques<\/li>\r\n \t<li>Store Interior Design<\/li>\r\n<\/ul>\r\n<h3>Use nonstore-retailing atmospheric principles to analyze current web retailers<\/h3>\r\n<ul>\r\n \t<li>Characteristics of Retailing Websites<\/li>\r\n \t<li>Online Store Design<\/li>\r\n \t<li>User Experience<\/li>\r\n \t<li>Pros and Cons of an Online Store<\/li>\r\n<\/ul>\r\n<h2><strong>Module 14: Integrated Marketing Communications and Promotions<\/strong><\/h2>\r\n<h3>Explore the concept of integrated marketing communications and retail promotions<\/h3>\r\n<ul>\r\n \t<li>Customer Communication<\/li>\r\n \t<li>Integrated Marketing Communications<\/li>\r\n \t<li>Media Elements<\/li>\r\n \t<li>Budget Calculations<\/li>\r\n<\/ul>\r\n<h3>Explain how retailers build a brand image and increase customer loyalty by using communication programs<\/h3>\r\n<ul>\r\n \t<li>Brand Equity<\/li>\r\n \t<li>Marketing Communication Program (SMART)<\/li>\r\n<\/ul>\r\n<h3>Evaluate the key elements of the integrated marketing communications mix<\/h3>\r\n<ul>\r\n \t<li>Advertising in Retail<\/li>\r\n \t<li>Sales Promotions in Retail<\/li>\r\n \t<li>Direct Marketing in Retail<\/li>\r\n \t<li>Online Media and Retail<\/li>\r\n \t<li>Social Media and Retail<\/li>\r\n \t<li>Other Media Elements<\/li>\r\n<\/ul>\r\n<h2><strong>Module 15: Customer Service Strategies<\/strong><\/h2>\r\n<h3>Identify how retailers can use excellent customer service as a differentiation tool<\/h3>\r\n<ul>\r\n \t<li>Customer Service<\/li>\r\n \t<li>Customer Profiles<\/li>\r\n \t<li>Offered Services<\/li>\r\n \t<li>Personalized vs. Standardized Service<\/li>\r\n<\/ul>\r\n<h3>Explain the key components of the customer evaluation process<\/h3>\r\n<ul>\r\n \t<li>Perception vs. Expectation<\/li>\r\n \t<li>Service Quality Perceptions<\/li>\r\n \t<li>Customer Expectations<\/li>\r\n<\/ul>\r\n<h3>Discuss the gap model of service quality<\/h3>\r\n<ul>\r\n \t<li>Gap 1: Customer Expectation vs. Management Perception<\/li>\r\n \t<li>Gap 2: Management Perception vs. Quality Specifications<\/li>\r\n \t<li>\u00a0Gap 3: Quality Specifications vs. Service Delivery<\/li>\r\n \t<li>Gap 4: Service Delivery vs. External Communications<\/li>\r\n \t<li>Gap 5: Actual Performance vs. Perceived Service Gap<\/li>\r\n<\/ul>","rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-220\" src=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images\/wp-content\/uploads\/sites\/2986\/2018\/07\/10225035\/binoculars2.png\" alt=\"decorative image\" width=\"250\" height=\"142\" \/><\/p>\n<p>The following list shows a summary of the topics covered in this course. To see all of the course pages, visit the\u00a0<a href=\"https:\/\/courses.lumenlearning.com\/wm-retailmanagement\" target=\"_blank\" rel=\"noopener\">Table of Contents<\/a>.<\/p>\n<h2>Module 1:Introduction to Retailing<\/h2>\n<h3>Describe retailing, the entities involved, and the impact of decisions on a retail business<\/h3>\n<ul>\n<li>Retailing<\/li>\n<li>Supply Chains<\/li>\n<li>Challenges in Retailing<\/li>\n<\/ul>\n<h3>Analyze the evolution of the retail industry<\/h3>\n<ul>\n<li>Historical Changes in Retail<\/li>\n<li>Information Systems in Retail<\/li>\n<li>Adaptation in Retail<\/li>\n<\/ul>\n<h3>Recognize career opportunities available in the retail businesses<\/h3>\n<ul>\n<li>Key Roles in a Retail Business<\/li>\n<li>Why Working Retail Is Tough<\/li>\n<li>Retail Management Requirements<\/li>\n<li>Skills of a Retail Manager<\/li>\n<\/ul>\n<h3>Explain the concept of strategic planning within the retail management decision process<\/h3>\n<ul>\n<li>Microenvironment vs. Macroenvironment<\/li>\n<li>Strategic Planning in Retail<\/li>\n<li>The Retail Mix<\/li>\n<li>The Retailing Concept<\/li>\n<\/ul>\n<h2>Module 2: Retail Environment Analysis<\/h2>\n<h3>List the classification characteristics of various types of retailers by ownership<\/h3>\n<ul>\n<li class=\"chapter standard\">Structural Organization of Retailers<\/li>\n<li class=\"chapter standard\">Advantages and Disadvantages of Retailer Types<\/li>\n<\/ul>\n<h3>Categorize the wide-variety of food retailers<\/h3>\n<ul>\n<li>Changes in Food Retailing<\/li>\n<li>Variety and Assortment of Goods in Food Retail<\/li>\n<li>Current Trends in Food Retail<\/li>\n<\/ul>\n<h3>Compare and contrast service and merchandise retailers<\/h3>\n<ul>\n<li>Assortment Levels and Types of Retailers<\/li>\n<li>Types of Service Retailers<\/li>\n<\/ul>\n<h3>Discuss store-based strategy mixes<\/h3>\n<ul>\n<li>Wheel of Retailing<\/li>\n<li>Scrambled Merchandising<\/li>\n<li>Evolving Through Mergers, Diversification, and Downsizing<\/li>\n<\/ul>\n<h3>Evaluate the elements of a competitive analysis<\/h3>\n<ul>\n<li>Obtaining Information on Competition<\/li>\n<li>NAICS Codes and Direct Competitors<\/li>\n<\/ul>\n<h2><strong>Module 3: Multi-Channel Retailing<\/strong><\/h2>\n<h3>Introduction to Single Channel, Multi-Channel, and Omni-Channel Retailing<\/h3>\n<ul>\n<li>Describing Retailers and Channels<\/li>\n<li>Single Channel, Multi-Channel, and Omni-Channel Retailing<\/li>\n<li>Key Differences Between Single Channel, Multi-Channel, and Omni-Channel Retailing<\/li>\n<\/ul>\n<h3>Describe a wide variety of non-store retail channels<\/h3>\n<ul>\n<li>Retailers and Non-store Channel Types<\/li>\n<li>Comparison of Store, Catalog, and Internet Channels<\/li>\n<\/ul>\n<h3>Discuss the rise of electronic retailing through the internet<\/h3>\n<ul>\n<li>Role of the Web to Retailers<\/li>\n<li>Advantages and Disadvantages of Electronic Retailing<\/li>\n<li>Mobile Apps and Customer Interaction<\/li>\n<\/ul>\n<h3>Recognize the challenges faced by multichannel retailers and how retailers must adapt<\/h3>\n<ul>\n<li>Multichannel Factors to Consider<\/li>\n<li>Customer Impressions and the Seamless Experience<\/li>\n<li>Data to Support the Multichannel Shopping Experience<\/li>\n<\/ul>\n<h2><strong>Module 4:\u00a0Identifying and Understanding Customer Behavior<\/strong><\/h2>\n<h3>Explain the consumer decision-making process<\/h3>\n<ul>\n<li>Steps of the Buying Process<\/li>\n<li>Conflicting Needs of Customers<\/li>\n<li>Information Used in Buying Decisions<\/li>\n<li>Multiattribute Model<\/li>\n<\/ul>\n<h3>Identify the various models of buying processes<\/h3>\n<ul>\n<li>Increasing Sales with Extended Problem Solving<\/li>\n<li>Increasing Sales with Limited Problem Solving<\/li>\n<li>Habitual Decision-Making<\/li>\n<\/ul>\n<h3>Describe why it is important for retailers to research and understand their customers<\/h3>\n<ul>\n<li>Target Markets<\/li>\n<li>Meeting the Needs of Specific Groups<\/li>\n<\/ul>\n<h3>Summarize the main factors used to describe customers<\/h3>\n<ul>\n<li>Demographic Measurements<\/li>\n<li>Consumer Lifestyle Factors<\/li>\n<li>Motivation, Attitude, and Buying Choices<\/li>\n<\/ul>\n<h3>Examine retailer decisions based on target market planning<\/h3>\n<ul>\n<li>Brand Community<\/li>\n<li>Differentiated, Mass, and Concentrated Marketing Strategies<\/li>\n<li>Predicting a Retail Strategy Mix<\/li>\n<\/ul>\n<h2><strong>Module 5: Strategic Retail Planning and Management<\/strong><\/h2>\n<h3>Explain the importance of strategic planning to retailers<\/h3>\n<ul>\n<li>Steps of Retail Strategy Planning<\/li>\n<li>Visions and Missions<\/li>\n<li>Decisions and Strategy<\/li>\n<\/ul>\n<h3>Describe step-by-step how retailers create a strategic plan<\/h3>\n<ul>\n<li>Situation Analysis<\/li>\n<li>Short and Long-Run Objectives<\/li>\n<li>Target Market Techniques<\/li>\n<li>Key Variables in Planning<\/li>\n<li>Tactical Decisions<\/li>\n<li>Retail Audits<\/li>\n<\/ul>\n<h3>Examine possible opportunities that can arise from strategic planning<\/h3>\n<ul>\n<li>The Feedback Process<\/li>\n<li>Building a Competitive Advantage<\/li>\n<li>Retail Growth Opportunities<\/li>\n<\/ul>\n<h2><strong>Module 6: Trade-Area Analysis and Site Selection<\/strong><\/h2>\n<h3>Explain the significance of selecting a store location<\/h3>\n<ul>\n<li>Environmental Analysis<\/li>\n<li>Data Analysis for Location Selection<\/li>\n<li>Location Effects on Planning<\/li>\n<\/ul>\n<h3>Analyze the characteristics of a retail trading area<\/h3>\n<ul>\n<li>U.S. Census Bureau and Demographic Data<\/li>\n<li>GIS and Location Decisions<\/li>\n<li>Factors in Analyzing Trading Area<\/li>\n<\/ul>\n<h3>Examine the variety of locations available to retailers<\/h3>\n<ul>\n<li>Comparing Location Benefits<\/li>\n<\/ul>\n<h3>Summarize the factors considered in site selection decisions<\/h3>\n<ul>\n<li>Evaluating Site Characteristics<\/li>\n<li>Influence of Societal Views<\/li>\n<li>Huff Gravity Model<\/li>\n<li>Common Lease Types<\/li>\n<\/ul>\n<h2><strong>Module 7: Information Systems in Retail and CRM Software<\/strong><\/h2>\n<h3>Explain why retailers need a centralized data hub<\/h3>\n<ul>\n<li>Methods to Gather Information<\/li>\n<li>Retail Information Systems<\/li>\n<li>Data Warehousing and Data Mining<\/li>\n<li>UPC, RFID, and QR Codes<\/li>\n<\/ul>\n<h3>Explore the use of information systems to manage the supply chain<\/h3>\n<ul>\n<li>Supply Chains<\/li>\n<li>Flow of Goods<\/li>\n<li>Sales and Information Systems<\/li>\n<li>Supplier and Retailer Coordination<\/li>\n<\/ul>\n<h3>Discuss how customer shopping data is collected<\/h3>\n<ul>\n<li>CRM<\/li>\n<li>Customer Database<\/li>\n<li>Collecting Identifying Information<\/li>\n<li>Privacy Issues<\/li>\n<\/ul>\n<h3>Examine the objectives for analyzing the customer database<\/h3>\n<ul>\n<li>Identifying Best Customers<\/li>\n<li>Goals of Data Analysis<\/li>\n<li>Frequent-Shopper and Rewards Programs<\/li>\n<li>Customer Retention Techniques<\/li>\n<\/ul>\n<h2><strong>Module 8: Retail Human Resources<\/strong><\/h2>\n<h3>Describe the organizational patterns of a retail business<\/h3>\n<ul>\n<li>Organizational Structure and Employee Activities<\/li>\n<li>Retailer Structures<\/li>\n<li>Divisions of a Retail Business<\/li>\n<\/ul>\n<h3>Discuss the overarching requirements of human resource management<\/h3>\n<ul>\n<li>Performance Measures<\/li>\n<li>Steps of Human Resource Management<\/li>\n<li>Challenges in Human Resource Management<\/li>\n<\/ul>\n<h3>Explain how retailers can attract the best employees<\/h3>\n<ul>\n<li>Recruiting Talent<\/li>\n<li>Developing Star Employees<\/li>\n<li>Motivating Employees<\/li>\n<li>Diverse and Inclusive Workforce<\/li>\n<\/ul>\n<h3>Examine legal issues involved in human resource management<\/h3>\n<ul>\n<li>Laws Vs. Ethics<\/li>\n<li>Equal Employment Opportunity Law<\/li>\n<li>Employee Health and Safety Laws<\/li>\n<li>Sexual Harassment Laws<\/li>\n<li>Web Retailing Laws<\/li>\n<\/ul>\n<h2><strong>Module 9: Financial Strategies in Retail<\/strong><\/h2>\n<h3>Use strategic profit modeling to create a financial plan<\/h3>\n<ul>\n<li>Financial Goals<\/li>\n<li>Profit-and-Loss Statements<\/li>\n<li>Performance Objectives and Measurements<\/li>\n<\/ul>\n<h3>Explain how an income statement is used to evaluate a profit management path<\/h3>\n<ul>\n<li>Sales, Costs, and Expenses<\/li>\n<li>Gross Margin Percentage<\/li>\n<li>Net Profit Margin<\/li>\n<\/ul>\n<h3>Explain how a balance sheet is used to evaluate an asset management path<\/h3>\n<ul>\n<li>Assets and Liabilities<\/li>\n<li>Asset Turnover Rate<\/li>\n<li>Return on Assets<\/li>\n<li>Key Ratios<\/li>\n<\/ul>\n<h3>Explain the purpose and logistics of budgeting and cash flow<\/h3>\n<ul>\n<li>Budget Preparation<\/li>\n<li>Zero-Based vs. Incremental Budgeting<\/li>\n<li>Ongoing Budgeting Process<\/li>\n<li>Seasonality and Cash Flow<\/li>\n<\/ul>\n<h2><strong>Module 10: Retail Operations: Managing the Store<\/strong><\/h2>\n<h3>Explain how retailers find the best personnel<\/h3>\n<ul>\n<li>Screening Prospective Employees<\/li>\n<li>Interviewing Prospective Employees<\/li>\n<li>Training New Employees<\/li>\n<\/ul>\n<h3>Explain how retailers keep the best personnel<\/h3>\n<ul>\n<li>Employees Evaluations and Feedback<\/li>\n<li>Rewards and Compensation Plans<\/li>\n<li>Strong Leader Qualities<\/li>\n<\/ul>\n<h3>Describe the operating functions that can reduce costs<\/h3>\n<ul>\n<li>Employee Scheduling<\/li>\n<li>Store Maintenance<\/li>\n<li>Reducing Inventory Shrinkage<\/li>\n<\/ul>\n<h2><strong>Module 11: Merchandise Management<\/strong><\/h2>\n<h3>Identify the important aspects of merchandise planning and management<\/h3>\n<ul>\n<li>Merchandise Management<\/li>\n<li>Retail Buying Organizations<\/li>\n<li>Merchandise Buying Systems<\/li>\n<\/ul>\n<h3>Examine the merchandise planning process<\/h3>\n<ul>\n<li>Forecasting Sales Numbers<\/li>\n<li>Merchandise Assortment Options<\/li>\n<li>Inventory Levels<\/li>\n<li>Merchandise Flow<\/li>\n<li>Merchandise Allocations<\/li>\n<li>Merchandising Decisions<\/li>\n<\/ul>\n<h3>Outline the considerations taken by retailers when buying merchandise<\/h3>\n<ul>\n<li>Brand Selection<\/li>\n<li>Sourcing Decisions<\/li>\n<li>Negotiations<\/li>\n<li>Building Partner Relationships<\/li>\n<li>Ethical and Social Responsibilities<\/li>\n<\/ul>\n<h2><strong>Module 12: Place: Retail Pricing and Sales Strategies<\/strong><\/h2>\n<h3>Identify how pricing fits into the goals of a retail establishment<\/h3>\n<ul>\n<li>Defining Value<\/li>\n<li>Retail Pricing Strategies<\/li>\n<li>Pricing and the Retail Mix<\/li>\n<\/ul>\n<h3>Explain how retailers determine pricing objectives<\/h3>\n<ul>\n<li>External Factors and Retail Pricing<\/li>\n<li>Pricing Strategies<\/li>\n<li>Price Elasticity<\/li>\n<li>Price Elasticity Calculations<\/li>\n<\/ul>\n<h3>Use various pricing methods to determine product pricing<\/h3>\n<ul>\n<li>Cost-Oriented Pricing Equations<\/li>\n<li>Break-Even Point<\/li>\n<li>Competition-Oriented Pricing<\/li>\n<li>Demand-Oriented Pricing<\/li>\n<\/ul>\n<h3>Examine common price adjustment techniques<\/h3>\n<ul>\n<li>Markdown Optimization Software<\/li>\n<li>Reducing Product Markdowns<\/li>\n<li>Liquidating Markdown Merchandise<\/li>\n<\/ul>\n<h3>Examine pricing techniques used by retailers to increase sales and profits<\/h3>\n<ul>\n<li>Price Discrimination<\/li>\n<li>Loss Leader<\/li>\n<li>Price Lining<\/li>\n<li>History of Odd Pricing<\/li>\n<\/ul>\n<h2><strong>Module 13: Retail Image: Layout and Visual Merchandising<\/strong><\/h2>\n<h3>Identify the key objectives of good store design<\/h3>\n<ul>\n<li>Design and the Shopping Experience<\/li>\n<li>Design and Sales<\/li>\n<li>Design and Costs<\/li>\n<\/ul>\n<h3>Explain the value of a thoughtful store layout<\/h3>\n<ul>\n<li>Customer Shopping Behaviors<\/li>\n<li>Store Layout Designs<\/li>\n<li>Product Layout<\/li>\n<\/ul>\n<h3>Illustrate how the store environment can create a rewarding shopping experience<\/h3>\n<ul>\n<li>Store Exterior<\/li>\n<li>Presentation Techniques<\/li>\n<li>Store Interior Design<\/li>\n<\/ul>\n<h3>Use nonstore-retailing atmospheric principles to analyze current web retailers<\/h3>\n<ul>\n<li>Characteristics of Retailing Websites<\/li>\n<li>Online Store Design<\/li>\n<li>User Experience<\/li>\n<li>Pros and Cons of an Online Store<\/li>\n<\/ul>\n<h2><strong>Module 14: Integrated Marketing Communications and Promotions<\/strong><\/h2>\n<h3>Explore the concept of integrated marketing communications and retail promotions<\/h3>\n<ul>\n<li>Customer Communication<\/li>\n<li>Integrated Marketing Communications<\/li>\n<li>Media Elements<\/li>\n<li>Budget Calculations<\/li>\n<\/ul>\n<h3>Explain how retailers build a brand image and increase customer loyalty by using communication programs<\/h3>\n<ul>\n<li>Brand Equity<\/li>\n<li>Marketing Communication Program (SMART)<\/li>\n<\/ul>\n<h3>Evaluate the key elements of the integrated marketing communications mix<\/h3>\n<ul>\n<li>Advertising in Retail<\/li>\n<li>Sales Promotions in Retail<\/li>\n<li>Direct Marketing in Retail<\/li>\n<li>Online Media and Retail<\/li>\n<li>Social Media and Retail<\/li>\n<li>Other Media Elements<\/li>\n<\/ul>\n<h2><strong>Module 15: Customer Service Strategies<\/strong><\/h2>\n<h3>Identify how retailers can use excellent customer service as a differentiation tool<\/h3>\n<ul>\n<li>Customer Service<\/li>\n<li>Customer Profiles<\/li>\n<li>Offered Services<\/li>\n<li>Personalized vs. Standardized Service<\/li>\n<\/ul>\n<h3>Explain the key components of the customer evaluation process<\/h3>\n<ul>\n<li>Perception vs. Expectation<\/li>\n<li>Service Quality Perceptions<\/li>\n<li>Customer Expectations<\/li>\n<\/ul>\n<h3>Discuss the gap model of service quality<\/h3>\n<ul>\n<li>Gap 1: Customer Expectation vs. Management Perception<\/li>\n<li>Gap 2: Management Perception vs. Quality Specifications<\/li>\n<li>\u00a0Gap 3: Quality Specifications vs. Service Delivery<\/li>\n<li>Gap 4: Service Delivery vs. External Communications<\/li>\n<li>Gap 5: Actual Performance vs. Perceived Service Gap<\/li>\n<\/ul>\n\n\t\t\t <section class=\"citations-section\" role=\"contentinfo\">\n\t\t\t <h3>Candela Citations<\/h3>\n\t\t\t\t\t <div>\n\t\t\t\t\t\t <div id=\"citation-list-3246\">\n\t\t\t\t\t\t\t <div class=\"licensing\"><div class=\"license-attribution-dropdown-subheading\">CC licensed content, Original<\/div><ul class=\"citation-list\"><li>Course Contents at a Glance. <strong>Provided by<\/strong>: Lumen Learning. <strong>License<\/strong>: <em><a target=\"_blank\" rel=\"license\" href=\"https:\/\/creativecommons.org\/licenses\/by\/4.0\/\">CC BY: Attribution<\/a><\/em><\/li><\/ul><div class=\"license-attribution-dropdown-subheading\">CC licensed content, Shared previously<\/div><ul class=\"citation-list\"><li>Binoculars Icon. <strong>Authored by<\/strong>: Musmellow. <strong>Provided by<\/strong>: Noun Project. <strong>Located at<\/strong>: <a target=\"_blank\" href=\"https:\/\/thenounproject.com\/term\/binoculars\/1234056\/\">https:\/\/thenounproject.com\/term\/binoculars\/1234056\/<\/a>. <strong>License<\/strong>: <em><a target=\"_blank\" rel=\"license\" href=\"https:\/\/creativecommons.org\/licenses\/by\/4.0\/\">CC BY: Attribution<\/a><\/em><\/li><\/ul><\/div>\n\t\t\t\t\t\t <\/div>\n\t\t\t\t\t <\/div>\n\t\t\t <\/section>","protected":false},"author":17533,"menu_order":2,"template":"","meta":{"_candela_citation":"[{\"type\":\"cc\",\"description\":\"Binoculars Icon\",\"author\":\"Musmellow\",\"organization\":\"Noun Project\",\"url\":\"https:\/\/thenounproject.com\/term\/binoculars\/1234056\/\",\"project\":\"\",\"license\":\"cc-by\",\"license_terms\":\"\"},{\"type\":\"original\",\"description\":\"Course Contents at a Glance\",\"author\":\"\",\"organization\":\"Lumen 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