Outcomes:

After completing this class, students should be able to:

• Explain how the economy, demographic changes, and legislation affect the retail merchandise mix.
• Name and describe factors affecting the consumer’s purchase decision.
• Explain the structure and functions of various types of retail firms including stores, direct retail marketing, e-retailing, and international retailing.
• Describe appropriate retail locations based on trading area research.
• Create a store layout and design.
• Describe market segmentation and define a target market.
• Explain the planning phase and selection process of the merchandise mix.
• Calculate merchandise prices for profitable store or web-based operations.
• Analyze income statements to identify problem areas.
• Create and explain strategies for successful retail promotion.