What You'll Learn
Encompassing customer relations with strategic planning, marketing, financial analysis and merchandising, our Retail Management training gives you the knowledge necessary to sell any product and grow a retail business. The lessons are challenging but easy to follow, with practice exercises reinforcing key topics such as multichannel retailing, consumer behavior, merchandise assortment and pricing, just to name a few.
Lesson 1: Setting the Foundation; Customer Service
Lesson 2: Success as a Large Retail Store Department Manager
Defining retailing; traits of successful retailers; the retail organization; management positions; departmental personnel; management training; motivating employees; components of customer service in the retail environment; training employees in good customer service practices.
Lesson 3: Success as a Small Retail Store Entrepreneur
The corporate mission statement; management strategies; target and niche marketing; department manager responsibilities; store set-up; department layout; personalization; buyers and vendors; business meetings; business analysis; controlling department performance.
Lesson 4: The Exciting Retail World
Specialty retailing; capitalization; location; market analysis; traits of a successful entrepreneur; steps to launching a small retail enterprise; competing against large retailers; store design; principles of store set-up; store aesthetics, fixtures and colors; incremental and impulse sales; customer loyalty programs; multi-channel retailing; Internet opportunities for small businesses.
Lesson 5: Multichannel Retailing & Consumer Behavior
The economic significance of retail sales; retail employment; the top 25 global retailers; structure of retailing and global distribution channels; retail management and entrepreneurial opportunities; decision-making; implementing retail strategy; trends in retailing; retailer characteristics; food, general merchandise, non-store, and services retailing; types of ownership.
Lesson 6: Strategic Planning & Financial Performance
Retail channels for interacting with customers; trends and implications; electronic retailing: multichannel retailing; shopping in the future; types of buying decisions; the buying process; social factors influencing buying decisions; market segmentation.
Lesson 7: Location & Site Selection
Definition of retail market strategy; target market and retail format; building a competitive advantage via location, human resource management, unique merchandise, distribution and information systems, vendor relations and customer service; market penetration, expansion and diversification; global growth opportunities; the strategic retail planning process; the strategic profit model: sales, margins and expenses; the turnover path; return on assets; setting performance objectives.
Lesson 8: Managing Human Resources; Customer Relations; Information Systems
Retailing centers; city or town locations; freestanding sites; location and retail strategy; economies of scale vs. cannibalization; demographics; business climate; accessibility; locational advantages within a center; trade area; methods of estimating demand.
Lesson 9: Merchandise Assortment, Buying Systems & Vendor Relations
Gaining competitive advantage via human resource management; organization of a single store, regional department store and other types of retailers; coordinating merchandise with store management; building employee commitment; managing diversity; legal issues; supply chain management; data warehousing; electronic data interchange; logistics of distribution; implementing CRM programs; collecting and analyzing customer data; market segments.
Lesson 10: Pricing & the Retail Communication Mix
Organizing buying by categories; the merchandise plan; margins, sales and inventory turnover; sales forecasting; assortment planning; staple merchandise buying systems; fashion merchandise budget plan; open-to-buy; allocating merchandise to stores; analyzing merchandise performance; branding strategies; international sourcing; negotiating and partnering with vendors.
Lesson 11: Store Management
Pricing strategies; setting prices; price adjustments; using price to stimulate sales; building brand equity; personal and impersonal methods of communicating with customers; planning, implementing and evaluating retail communication programs.
Key management duties; recruiting employees; training, motivating and managing new store employees; compensation; controlling costs; reducing inventory loss; elements of good store design and layout; space planning; presenting merchandise; atmospherics; customer service strategies; customer evaluation of service quality; meeting and exceeding service standards.
Close Curriculum Details
What You Get
Complete your Retail Management course online on your schedule. Total flexibility lets you complete the program at your own pace. We’ve removed the obstacles so you can move ahead in retail management from the convenience of your home.
Our course combines a balance of theoretical concepts and practical application. Tuition includes:
- Detailed retail management textbook & study guides
- Online, open-book exams
- Instructor guidance and unlimited tutoring
- Career search and time management guides
- Participation in the Student Community
- Career Services powered by CareerBuilder®
Graduates of our Retail Management training receive a personalized career diploma and may attend our annual graduation ceremony. Your diploma in retail management will put you on the path to success!
Are you an organized person with an outgoing and friendly personality? Retail Management may be your ideal career. All you need is profession training. Start today! Speak with an Admissions Advisor at 1-800-957-5412 or enroll online now.