|Author :||Jae K. Shim, Ph.D., CPA|
|CPE Credits :||13.0|
|IRS Credits :||0|
|Passing Score :||70%|
|Primary Subject-Field Of Study:||
Marketing - Management for Course Id 44
Retailing, the business of selling consumer goods to final consumers, is constantly changing. Retailers are particularly affected by changes in the consumer population; in the economic, social, technological, and political environment; and in competitive conditions. This course teaches you the main requirements of effective retail management: personal qualifications of management; an adequate financial structure; necessary physical facilities; effective policies and procedures; and competence, loyalty, and productiveness of personnel. Also discussed are online retailing (e-tailing) strategy, improving Internet presence, and future changes in retailing.
|Usage Rank :||0|
|Experience Level :||Overview|
|Additional Contents :||Complete, no additional material needed.|
|Additional Links :|
|Advance Preparation :||None.|
|Delivery Method :||Self-Study|
|Intended Participants :||Anyone needing Continuing Professional Education (CPE).|
|Revision Date :||29-Oct-2012|
|NASBA Course Declaration :||Participants must complete the final examination within one year of purchase and with a minimum passing grade of 70% or better to receive CPE credit unless otherwise noted on the Course History page (i.e. California Ethics must score 90% or better). After logging in click on the Course History links on your My Courses page for the Begin date and Expire date for the Final Exam.|
|Approved Audience :||
NASBA Registry - 44
|Keywords :||Marketing, Retailing, BrickMortar/ClickMortar, cpe, cpa, online course|
|Learning Objectives :||
2. Describe the structure of retailing.
3. Explain the concept of non-store retailing.
4. Ascertain the future of retailing.
2. Detail the financial structure.
3. Illustrate the physical facilities.
4. Develop sound policies.
5. Ascertain the competency and loyalty of retail personnel.
2. Identify the basic factors in location.
3. Predict the changing retail markets.
4. Explain the trend toward urban areas.
5. Discuss the decentralization of retailers.
6. Describe the new shopping center designs.
2. Calculate the capital investment for land, building and equipment.
3. Detail common features of the newer open-front or visual front stores.
4. Characterize the features of the store interior.
5. Detail other kinds of equipment used for selling activities.
6. Explain the current uses of EDP in retailing.
7. Demonstrate the use of store modernization programs.
2. Identify the sources of information on layouts.
3. Explain the display concept for self-selection and self- service.
4. List and give examples of favorable elements of a self-service operation.
5. Identify the unfavorable elements of a self-service operation.
2. Detail the organization of small stores.
3. Outline the organization of large stores.
4. Identify the common characteristics of chain store organizations.
5. Elaborate on the major trends in store organization.
2. Formulate human resource policy.
3. Outline the steps to recruit an adequate work force.
4. Construct and implement an employee training program.
5. Develop a program to compensate retail personnel.
6. Create a compensation program for managerial personnel.
7. Formulate a job evaluation method.
8. Evaluate personnel performance.
2. Prepare objectives for the merchandise budget.
3. Organize the elements in merchandise budgeting.
4. Identify the limitations of the merchandise budget.
5. Assign the responsibility for the merchandise budget.
2. Determine the quantities to purchase.
3. Maximize inventory turnover.
4. Determine customer’s wants.
5. Identify inside sources of information on customer’s wants.
6. Determine outside sources of successful merchandising practices.
2. Establish main types of suppliers.
3. Determine what manufacturers can be merchandise sources.
4. Use vendor information to find buyers.
2. Establish guidelines for negotiation.
3. Discuss terms of sale discounts.
4. Prepare quantity discounts.
5. Describe brokerage discounts or allowances.
6. Utilize cash discounts.
7. Determine the dating and terms of a sale.
8. Identify other types of negotiations for purchasing merchandise.
9. Prepare purchase orders and transfer titles.
10. Explain assignment buying and memorandum buying.
2. Identify the goals of merchandise management.
3. List the basic types of merchandise control systems.
4. Give examples of the benefits of unit control.
5. Use EDP to prepare merchandise control records.
6. Determine the physical inventory.
7. Identify stock shortages.
2. Establish requirements of effective performance.
3. Develop effective processes for layout and receiving merchandise.
4. Formulate procedures for receiving and recording incoming merchandise.
5. Implement a method to establish checking procedures.
6. Devise methods for marking merchandise.
7. Prepare a process to distribute merchandise.
2. Define the competitive pricing method.
3. Formulate markup procedures.
4. Identify some of the factors influencing markup.
5. Formulate procedures for adjustments in selling prices.
6. Define the purpose of leader merchandise.
2. Explain the concept of cooperative advertising.
3. Coordinate the steps in programming retail advertising.
4. Interpret and implement a policy of truth in advertising.
5. Facilitate effective store displays.
6. Establish controls and responsibility for advertising and display.
2. Promote sales through packaging.
3. Label to promote retail sales.
4. Devise consumer premiums to promote retail sales.
5. Initiate special promotional events.
6. Identify other methods of sales promotion.
7. Generate publicity.
8. Meet government regulations and safety standards.
2. Identify the elements of a retail sale.
3. Describe the selling process.
4. Cultivate procedures to meet objections.
5. Formulate guidelines for management’s responsibility for personal salesmanship.
2. Establish alteration services for clothing sales.
3. Develop a delivery policy and procedure.
4. State how to handle customer complaints and adjustments.
5. Establish policies for return goods.
6. Identify other customer services.
7. Formulate income-producing services.
2. Explain the importance of credit sales to the retailer.
3. Identify the problems of selling on credit.
4. Establish credit accounting procedures.
5. Maintain current credit information.
6. Identify credit customers.
7. Determine outside financial institutions that can facilitate credit sales.
8. Implement collection procedures for past-due accounts.
9. Comply with credit legislation.
10. Evaluate the effectiveness of the credit department.
2. Examine and explain the balance sheet.
3. Explain the operating statement under the cost method.
4. List the advantages and disadvantages of the retail method.
2. Prescribe an allocation or distribution of expenses procedure.
3. Analyze and compare expense allocations.
4. Establish an expense budgeting process and control.
5. Initiate corrective action procedures.
2. Ascertain the requirements of an effective system.
3. Identify the types of sales transactions.
4. Recommend methods to record sales.
2. Establish procedures and safe guards to prevent internal theft.
3. Develop controls for identifying and limiting pilferage.
4. Implement fire and accident protection strategies.
2. Identify the major tools of coordination.
3. Describe the main steps in retail research.
4. Explain the nature and scope of retail research.
5. Justify the need for keeping current on changing conditions and practices.
6. Detail the role of executive management leadership in retailing.
7. Identify management characteristics.
2. Facilitate online selling.
3. Improve your Web presence.
4. Discuss E-tailing strategies.
5. Explain the competitive nature of web-based services.
6. Identify the opportunities enjoyed by opportunistic marketing methods.
7. Develop loyal link markets and loyal chain markets.
8. Outline future changes in retailing.
|Course Contents :||
1. Retailers and their Structure
2. Retail Management Requirements
3. Store Location
5. Arranging the Store’s Interior—Layout
6. Structure of the Retail Firm
7. Retail Human Resource Management
8. Merchandising Policies and Budgets
9. Planning and Selecting Item Assortments
10. Buying: Selecting Merchandise Resources
11. Buying: Negotiating with Merchandise Resources
12. Merchandise Control
13. Handling Incoming Merchandise
15. Advertising and Display
16. Other Nonpersonal Methods of Retail Sales Promotion
17. Personal Salesmanship
18. Customer Services
19. Retail Credit and Collections
20. Basic Accounting Controls
21. Analyzing and Controlling Expenses
22. Control of Sales Transactions
23. Retail Security and Loss Prevention
24. Management Coordination and Leadership
25. Brick and Mortar to Click and Mortar: E-Tailing