The Principles of Retailing course provides an in-depth exploration of the fundamental concepts and strategies involved in the retail industry. This course aims to equip students with a comprehensive understanding of the key principles, practices, and trends that drive successful retail businesses. Through a combination of theoretical knowledge and practical examples, students will develop the necessary skills to analyze retail environments, devise effective retail strategies, and navigate the dynamic challenges of the retail industry.
Learning Objectives: By the end of this course, students will be able to:
- Understand the fundamental concepts and terminologies associated with retailing.
- Analyze the retail environment, including market trends, consumer behavior, and competitive forces.
- Identify and evaluate various retail formats, such as brick-and-mortar stores, e-commerce, and omnichannel retailing.
- Develop an understanding of retail strategy formulation, including target market selection, positioning, and differentiation.
- Explore the importance of visual merchandising, store layout, and design in enhancing the retail experience.
- Gain knowledge of inventory management, supply chain operations, and logistics in the context of retail.
- Comprehend pricing strategies, promotions, and customer relationship management techniques in retail.
- Understand the role of technology and data analytics in modern retailing.
- Explore ethical and sustainable practices in retail, including social responsibility and environmental considerations.
- Develop critical thinking and problem-solving skills through case studies and real-world retail scenarios.
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