To Describe Major Aspects of Financial Merchandise Planning and Management To Explain the cost and retail methods of Accounting To Examine alternative methods of Inventory Control To Integrate Dollar and Unit Merchandising Control Concepts

Obiective To Describe Steps In Implementing Merchandise plans To Examine the prominent roles of Logistics and Inventory Management in Implementing merchandise Plans

Advantages of Merchandising Oriented Philosophy Smooth chain of command Expertise Responsibility and Authority Clear Buyer Involved with Display Reduced costs Buyer Closer to Consumers

Operating A Retail Business perations Blueprint Store format Size Space Allocation Personnel utilization Store Maintenance Energy Management Renovations ntory Management

Profit Planning Profit Loss (Income Statement) Net Sales Cost of Goods Sold (COGS) Gross Profit (Margin) Operating Expenses Net Profit Before Taxes

To Examine Procedures Involved in Retail Organization Set Up To Examine Retail Organizational Arrangements To Consider Retailing's Special Human Resource Environment To Describe Principles and Practices of Retailing's Human Resource Management Process

Types of Locations Isolated Store Unplanned Business District Planned Shopping Center

Good Location can overcome Mediocre Strategy Mⅸ Poor location difficult to overcome Requires EXtensive Decision Making Least Flexible Element of Strategy Mix

Nonsystematic Research Intuition Status Quo Copying a Competitor Talk to Only a Few Assume Past will Continue into Future Why Are These a Problem?

To Examine the Importance of Identifying Understanding, and Appealing to Customers To Enumerate& Describe Segmentation Factors and their Application To Examine Consumer Attitudes and the Decision Making Process To EXamine Target Market Planning To Note Environmental Factors that Affect Consumers