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Marketing 343

MKTG 343: Retailing

Prerequisites: Junior standing and MKTG 340

Credit Hours: (3)

This course is designed to provide students with a comprehensive understanding of the theoretical and applied aspects of retail management. Key perspectives that shape the retail marketplace including environmental influences, retail relationships, retail analysis and decision-making strategies will be emphasized.

Detailed Description of Content of the Course

This course provides the student with a comprehensive view of retailing and an application of marketing concepts in a practical retail managerial environment. Topics include:

• Retail institutions
• The current retailing environment
• E-tailing, non-store and multi-channel retailing
• Retail site location
• Retail information systems
• Merchandise planning and buying
• Store management and operations
• Human resource management
• Visual merchandising and store layout
• Pricing strategies
• Advertising and promotional strategies
• Legal and ethical issues in retail management
• Customer relationships and loyalty
Detailed Description of Conduct of the Course

Each student will be expected to master the fundamental concepts of retailing that are presented in the text. Class lectures, discussions and activities (both in and out of class) will build upon these basic concepts and apply them to actual retail events. A team-based project (including both a written report/paper and oral presentation) will further underscore the student's understanding of the retail environment.
Goals and Objectives of the Course

At the conclusion of the course, the student will be able to:
• Describe the basic composition and structure, as well as the dynamic nature of the retail marketplace
• Identify the basic criteria for defining a retail market and propose a strategy to reach the market while considering a variety of uncontrollable environmental factors
• Identify a retail trade area and choose an appropriate retail site location
• Examine ways to interact with customers through multiple channels – stores, catalogs, and the Internet
• Explain and analyze merchandise mix, pricing, and assortment concepts and strategies
• Identify the role of promotional efforts in communicating with retail internal and external publics
• Discuss challenges and opportunities in managing a retailing organization.
• Discuss how store managers recruit, select, motivate, train and evaluate their employees
• Identify regulatory and ethical issues/constraints placed on retail strategy
Assessment Measures

Assessment of the student’s success in the course may be based on performance on exams, in and out of class assignments, and/or a team-based project.
Other Course Information

Review and Approval

12-01-2006, reviewed and approved by the Dept. of Marketing faculty
April 13, 2012 Revised