INTRODUCTION TO RETAILING

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Learning Outcomes

Explains the retailing sector, its functions, economic and social impacts of the sector and developments in the sector and interprets the career opportunities * Explains the scope and development stages of retailing * Defines retailing functions * Evaluates the characteristics of retailing * Analyzes retail industry * Explains the economic and social impacts of retailing * Evaluates career opportunities in the retail industry * Follows the latest trends and developments in the retail industry
Analyzes environmental factors affecting the retail industry * Explains the demographic factors that affect the activities of retailers * Identifies the economic factors that affect retailing * Evaluates how socio-cultural and psychological factors affect retailers * Explains the competition and the types of competition in the retail industry * Understands the legal regulations and internationalization that affect the activities of retailers
Explains the ethical and social responsibilities of retailers towards their customers, employees and society * Recognizes the importance & scope of ethics and unethical practices in retailing * Explains the social responsibilities of retailers towards various parties * Distinguishes between consumer ethics and consumer behavior that may cause ethical problems * Evaluates environmental retailing practices
Identifies the different types of retailing within the retail industry * Categorizes the retail institutions * Recognizes the types of in-store retailing * Explains the concept and practices of non-store retailing * Evaluates the coexistence of in-store and non-store retailing
Evaluates ownership patterns in the retail industry and compare different aspects of service retailing * Categorizes retailers by ownership * Understands the strengths and weaknesses of independent retailing * Identifies chain stores * Explains the franchise system and scope * Groups vertical marketing systems * Explains the leasing of a department store * Explains the establishment purposes of consumer cooperatives * Defines service retailing
Evaluates the internationalization trends in retailing and explaining the requirements of international retailing activities * Explains the concept and scope of international retailing * Evaluates the reasons that drive retailers to international markets * Identifies the factors affecting internationalization decisions * Compares international market entry options