MGT 247 - Principles of Retailing

Credits: 3
Instructional Contact Hours: 3

Examines the retail business environment including an overview of e-commerce, retailing trends and careers in retailing. Presents merchandising policies and budgets, and buying and pricing merchandise. Discusses retail advertising, personal selling, customer service, and loss prevention.

Prerequisite(s): ENG 111 or OAT 151 either with a minimum grade of “C.” CST 147, and MGT 153W is also recommended
Corequisite(s): None
Lecture Hours: 45 Lab Hours: 0
Meets MTA Requirement: None
Pass/NoCredit: Yes

Outcomes and Objectives

Explore the nature of retailing
1. Define retailing
2. Name the different types of retailers
3. Identify ways to build a sustainable competitive advantage
4. Discuss laws and regulations governing retailing
5. Explain the buying process that consumers go through when purchasing merchandise or services
6. Discover the career opportunities available in the field of retailing
Assess non-merchandise factors that contribute to a successful retail operation
1. Determine the elements necessary for retail site selection
2. Describe issues affecting store layout and design
3. Understand the basic elements of the retail communication mix
4. Recognize the value of customer service and customer relationship management
Recognize the trends in the retail environment
1. Describe how the economic environment and customer purchasing behavior affect retailing
2. Discuss how technological and global environments transform retailing
3. Explore e-commerce
Assess merchandise factors that contribute to a successful retail operation
1. Demonstrate an understanding of merchandise planning and budgeting
2. Explore merchandise pricing
3. Explain factors and processes of retail selling