Retailing

Retailing is the set of business activities that adds value to products and services sold to consumers. These retailing activities can take place across a variety of areas including in stores, online, social networks, mobile apps, via a salesperson, catalogs, or kiosks. Retailers link manufacturers to consumers. Retailers add value by providing an assortment of products and services, offering products in smaller quantities tailored to individuals, holding inventory so the product is available when the customer wants it, and providing services to make it easier for customers to buy and use products.
The objective of this course was to familiarize students with retail strategy which involves identifying the target market, the nature of merchandise or services that will be offered to meet the needs of the target market, and how to develop unique assets to achieve a long-term advantage over competitors. To understand this, the course focused on current retail trends, understanding consumers and company objectives, and examining assets and decisions that allow the retailer to build strategic advantages including location, merchandising, promotions, customer service, communications, customer experience, and loyalty programs.