Studies the principles upon which successful retail buying and merchandising depend. Explores techniques used in merchandise planning, selecting vendors, buying in foreign and domestic markets, developing a merchandising budget and merchandise pricing. Highlights negotiating techniques used with vendors and stock control methods. Lecture 3 hours per week.
GENERAL COURSE PURPOSE
MKT 227 is designed as a one-semester course to give the student an in-depth look at the merchandising cycle. Students learn how to target their customer, how to gather sales data, how to use that information to select vendors and buy merchandise that is profitable for the store, and how to control inventory and/interpret sales records.
ENTRY LEVEL COMPETENCIES
An understanding of basic marketing activities and business math skills is desirable.
Upon successful completion of this course, students will be able to:
b. Plan merchandise assortment to meet customer needs
c. Analyze vendors, both domestic and foreign
d. Develop a merchandise budget and buying plan
e. Understand the importance of a good inventory control system
f. Describe how a buyer works the market
g. Successfully negotiate with vendors
h. Understand the functions of the Receiving Department
i. Understand various pricing techniques
b. Developing a budget and buying plan
c. Selecting vendors and suitable merchandise.
d. Methods of buying in both domestic and international markets.
f. Merchandise management and control methods.
a. Case study analysis and computer project.Revised 2/02