||Class emphasis is on the strategic decisions made by retailers and how those decisions impact how, when, where and in what quantities customers will buy. Emphasis is also on hands-on application of the theories and principles introduced in class. Topics include using professional retailing terminology, analyzing environmental influences and identifying how retailers can appropriately respond to those influences as they make operational decisions such as site selection, determining merchandising practices, managing inventory and determining pricing strategies.
- Analyze retail formats from a strategic perspective.
- Analyze customer behaviors.
- Perform an environmental scan.
- Analyze financial statements.
- Formulate strategies to build a sustainable competitive advantage.
- Demonstrate methods used to plan a merchandise assortment.
- Analyze methods used to control inventory levels.
- Analyze factors that influence retail pricing strategies.
- Explore location site selection strategies.
- Develop value-added strategies.
- Analyze usage of the retail mix.
|MnTC goal areas:
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