BUS 267 - Retailing in a Service Economy
The history and overview of Retailing and the growth of the Service Sector economy. Covers the changes occurring in the distribution of goods and services including the growth of franchises, direct marketing and service businesses. The changes in retail structures, i.e., the demise of urban centers and traditional department stores and the growth of shopping centers, malls, and specialty retailers, are central to this course.
3 Class Hours
Learning Outcomes of the Course:
Upon successful completion of this course the student will be able to:
1. Provide written knowledge of the background and concepts necessary to consider a career in retailing.
2. Demonstrate an increased understanding of the ethical issues surrounding all retail functions of merchandising, operations, finance, and sales promotion by examining case studies in the contemporary media and develop a positon paper.
3. Describe and analyze theories of merchandising as each pertains to specific types of retail operations in a required number of discussions.
4. Describe the rationale for market segmentation strategies through the analysis of consumer life-style and life-cycle theories and provide written evidence of understanding the rationale for utilizing both quantitative and qualitative analyses in retail functions.
5. Provide evidence of understanding theories of retail sales promotion and communication, such as encoding and decoding advertising messages in discussions and written assignments.
6. Describe examples of revenue, profit, and store volume, as each relates to gross margin and store operations in both course discussions and written assignments.
7. Assess the importance of various types of store operations relative to the retail economy, and how each impacts the service economy, after field experience and store visits and have this reflected in the final store report.
8. Demonstrate an understanding of retailing by preparing a formal PowerPoint class presentation and store report, identifying relevant retailing theories.
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