BCIS I High School

Retailing– High School

Unit 1 – Semester 1 School Store Operations

TEKS Grade 9-12 (Content)
(10) (B) use market information to predict effects on retail pricing.
(12) (A) identify channels of distribution for selected consumer products.
(16) (B) list benefits and limitations of marketing research when applied to a retail
situation. / TEKS Grade 9-12 (Skills and Processes)
(1) (A) categorize retailing activities as buying and pricing, transporting and storing,
advertising and selling, servicing, financing, and risk taking; and
(1) (B) explain the interdependence each retailing activity has with marketing and
business.
(2) (A) understand the ramifications of business conduct; and
(2) (B) identify ways that businesses contribute to their community.
(2) (A) explain how the marketing mix contributes to successful retailing;
(2) (B) explain the importance of target markets; and
(2) (C) describe advantages and disadvantages of market segmentation and mass
marketing.
(6) (B) participate in leadership and career development activities (such as DECA and
local Chambers of Commerce).
(7) (A) describe responsibilities for each level of retail management; and
(7) (B) compare and contrast management styles.
(10) (A) explain the role profit plays in a retail operation; and
(11) (A) explain the concept of business cycles; and
(11) (B) explain how retailers react to periods of prosperity and recovery as well as to
recession.
(12) (B) explain distribution strategies (such as warehousing, stock handling, and
inventory control).
(16) (A) describe types of marketing research used in retailing.
Topics /Essential Understandings:
The Retail Industry; Plan Your Business Strategy; Merchandising and Merchandising Mix; Buying and Pricing Strategies/Activities; Shipping, Receiving, and Inventory Pricing
College Prep / Vocabulary / Resources / Instructional Guidelines
brainstorming
channel of
distribution
consumer
culture
economic
system
equilibrium price
executive
summary
list price
manufacturer
markup
merchandise
merchandise mix
mission
statement
model stock
plan
needs
opportunity
plan
retail
retail
establishment
scarcity
social class
staple goods
stock turn rate
strategic
objectives
strategic
planning
strength
SWOT analysis
tactical
objectives
threat
wants
weakness
wholesaler / Retail
Chapter 1
Chapter 2
Chapter 3
Additional Resources:
School Store Operations
Thomson-Southwestern
Chapter 1
Chapter 2
Chapter 3
DECA: Guide for Starting and Managing School-Based Enterprises
Internet
Case Studies
Individual Projects
Class Projects / The teacher will pose essential questions:
· What factors affect consumer behavior?
· What is the process involved in making a decision?
· How does your social class affect your consumer behavior?
· Why is it important to study the consequences of your decisions?
· How do current economic conditions relate to consumer expenditures?
· What are the legal structures for a business?
· What type of economic system operates in the United States?
· Why is it a good idea to sign a partnership agreement?
· What are the components of a strategic plan?
· What is an executive overview of a strategic plan?
· What time period is considered in a strategic plan?
· How much historical information should be in the executive summary?
· What is the objective of a strategic plan?
· How do you implement a strategic plan?
· How do you evaluate the results of implementing a strategic plan?
· Who should evaluate a strategic plan?
· How do retailers identify merchandise in demand?
· How do retailers make basic merchandise selections?
· Why are sales representatives a good source of information?
· Why can retailers predict the rate at which staple goods are purchased?
· How do buyers select their merchandise mix?
· How is merchandise classified?
· Why shouldn’t you order the same quantity of each product?
· What methods are used to calculate the price of merchandise?
· How does a buyer become skilled at estimating product costs?
· How does the type of store affect prices?
· What are the inventory methods available?
so that the student will acquire the following SCANS competencies:
· Time – selects goal-relevant activities, ranks them, allocates time, and prepares and follows schedules.
· Material and facilities – acquires, stores, allocates, and uses materials or space efficiently.
· Acquires and evaluates information.
· Organizes and maintains information.
· Interprets and communicates information.
· Reading – locates, understands, and interprets written information in prose and in documents such as manuals, graphs, and schedules.
· Writing – communicates thoughts, ideas, information, and messages in writing; and creates documents such as letters, directions, manuals, reports, graphs, and flow charts.
· Listening – receives, attends to, interprets, and responds to verbal messages and other cues.
· Speaking – organizes ideas and communicates orally.
· Creative thinking – generates new ideas.
· Applies technology to task – Understands overall intent and proper procedures for setup and operation of equipment.
· Decision making – specifies goals and constraints, generates alternatives, considers risks, and evaluates and chooses best alternative.
· Problem solving – recognizes problems and devises and implements plan of action.
Bloom’s Connection: Students will begin the process of retailing and strategic planning so that they successfully understand and prepare for a retailing career; Students will determine segmentation criteria (geographic, demographic, psychographics, buying characteristics) that will be most helpful in identifying a target market; Students will discuss the limitation of using only sales records to make buying decisions; Students will describe strategies to manage the merchandise mix.
Activities:
· Read and review various sections of the chapter to fully grasp the meaning of the unit.
· Decide on which type of store you would visit to buy a pair of jeans, a set of wrenches, or antique lamp.
· Determine why a mature company would usually have higher expenses than a developing company.
· Describe steps a company can take to postpone its decline.
· Delineate the main factors that determine social class.
· Explain the factors that attract customers to products.
· Explain the effect of poor decisions on a retail business.
· Describe what an economic system reveals about a nation’s government.
· Explain the purpose of a business in a market economy.
· Compare sole proprietorships and partnerships.
· Explain a banker should evaluate your strategic plan.
· Explain why a strategic plan should be updated periodically.
· Compose a mission statement.
· Write a strategic plan for a company which includes all of the important elements.
· Research resources available for locating information regarding the current business environment.
· Delineate the key business areas that companies hope to improve.
· Explain why it is easier to motivate members of a successful company.
· Describe the basic purpose of a want slip.
· Explain why you should be wary of product advance offered by vendors.
· Explain how the quality of merchandise is selected for a store.
· Determine how natural resources are treated today?
· Compare the advantages a retailer receives from buying items directly from the producer.
· Describe top-down merchandise planning.
· Create the sequence used in merchandise objectives.
· Explain what the buyer negotiates with a vendor and the value of a “good deal” from the vendor.
· Assess how a buyer builds up a price.
· Calculate the average initial markup percentage.
· Explain the 3-step process used to meet customer needs and desires.
· Describe the importance of analyzing the competition.
· Describe the various resources for data collection when conducting market research.
· Review data from the National Retail Federation as it relates to customer buying habits in order to develop a product strategy for the school store.
· Describe the relationship of the four “Ps” to market research.
· Explain how an organizational chart can also be used to determine how many employees need to be hired:
· Explain how the Internet can be used to research vendors.

Retailing – High School

Unit 2 – Semester 1 Essentials of Retailing

TEKS Grade 9-12 (Content)
(13) (A) describe credit policies offered to consumers by retail businesses; and
(13) (B) explain the impact of consumer credit legislation and guidelines on retail credit policies. / TEKS Grade 9-12 (Skills and Processes)
(4) A) complete sales transactions, returns, and adjustments; and
(4) (B) apply math concepts in retailing.
(5 (A) demonstrate comprehension of technical and specialized written communication; and
(5) (B) communicate effectively in a retail setting.
(6) (A) identify and practice effective interpersonal and team-building skills with co-workers, managers, and customers; and
(6) (B) participate in leadership and career development activities (such as DECA and local Chambers of Commerce).
(8) (A) discuss trends affecting retailing;
(8) (B) research emerging technologies in retailing; and
(8) (C) use the tools of information technology in retail settings (such as computerized inventory and video sales demonstrations).
(9) (A) identify the effect of languages other than English on retailing; and
(9) (B) explain the impact of multiculturalism and multigenerationalism on retailing activities.
(14) (A) identify sources of financial assistance for a retail business; and
(14) (B) explain the purpose of financial records (such as budget, balance sheet, and income statement).
(15) (A) explain characteristics and purposes of an MIS; and
(15) (B) identify areas where technological advances in electronic information pose new and ongoing ethical questions.
(17) (A) compare and contrast pricing policies and strategies among retail establishments; and
(17) (B) explain how business conduct often plays a major role in pricing decisions (such as prices after a natural disaster).
(18) (A) list controllable variables that impact price; and
(18) (B) describe uncontrollable variables that impact price.
(19) (A) evaluate promotional objectives used in retail businesses;
(19) (B) explain legal and ethical issues involved in promotion; and
(19) (C) discuss how display, publicity, personal selling, and customer service work together to achieve a retailer's promotional objectives.
(20) (A) classify components of image and critique the physical environment of a retail business; and
(20) B) explain the impact of visual merchandising on retail sales.
(21) (A) explain responsibilities of a retail buyer;
(21) (B) use current technology to examine a retail merchandise plan;
(21) (C) identify goods and services retailers use for daily operations; and
(21) (D) describe ways to reduce operational expenses.
(22) (A) categorize types of business risks; and
(22) (B) explain methods retailers use to control risks (such as surveillance, insurance, and safety training).
(23) (A) discuss the Consumer Bill of Rights; and
(23) (B) identify a customer's buying motives.
(24) (A) illustrate the importance of product and service knowledge when presenting sales demonstrations; and
(24) (B) prepare and deliver a sales presentation.
(25) (A) describe employee actions and attitudes that result in customer satisfaction; and
(25) (B) identify management actions and attitudes that result in customer satisfaction.
Topics /Essential Understandings:
Location and Design; Other Business Functions; Legal and Ethical Retailing; Running the School Store; Accounting for Profit; Promoting Your Business; Secure Your Store Loss Prevention; Have a Customer Focus; Effective Management
College
Prep / Vocabulary / Resources / Instructional Guidelines
acquisition
advertisement
business
expense
central business
district
compensation
credit bureau
customer
service
demographics
dual distribution
fair competition
fiscal year
fixed capital
fixture
freestanding
location
gray marketing
inventory
invoice
lease
merchandise
density
merger
one-way
exclusive
dealing
planogram
point-of-
purchase
advertising
predatory pricing
purchase order
range
shopping
center
territorial
restrictions
threshold
trademark
tying
arrangement
working capital / Retail
Chapter 4
Chapter 5
Chapter 6
Additional Resources:
School Store Operations
Thomson-Southwestern
Chapter 4
Chapter 5
Chapter 6
Chapter 7
Chapter 8
Chapter 9
Internet
Case Studies
Individual Projects
Class Projects / The teacher will pose essential questions:
· What are tangible and intangible factors that determine the location of a business?
· What are the different types of retail locations?
· How do you acquire a retail site?
· What is the primary difference between a business district and a shopping mall?
· Why don’t most retailers construct a new building?
· What encourages customer purchases?
· What constitutes a good store layout?
· What are the types of non-store retailers and their components?
· What is the weakness of most non-store retail methods?
· What is the first step in the merchandising cycle when you start a business?
· What are the types of advertising media?
· How can support media promote a retail establishment?
· Why is television one of the best advertising media?
· Are the yellow pages cost effective? Explain.
· Why is the temperature in a store important?
· What is the difference between credit and layaway?
· When will retailers get a lot of walk-in applicants?
· What will help employees perform better?
· What are channel partners?
· What does a patent do?
· Who are credit regulations designed to protect?
· Why is predatory pricing hard to prove?
· What group accounts for the most merchandise loss experienced by retailers?
· Why should you choose new merchandise that fits your business?
· What measures can we implement for securing the school store?
so that the student will acquire the following SCANS competencies:
· Time – selects goal-relevant activities, ranks them, allocates time, and prepares and follows schedules.
· Material and facilities – acquires, stores, allocates, and uses materials or space efficiently.
· Participates as a member of a team – contributes to group effort.
· Acquires and evaluates information.
· Organizes and maintains information.
· Interprets and communicates information.
· Uses computers to process information
· Problem solving – recognizes problems and devises and implements plan of action.
· Responsibility – exerts a high level of effort and perseveres towards goal attainment.
· Applies technology to task – Understands overall intent and proper procedures for setup and operation of equipment.
Bloom’s Connection: Students will analyze business functions that impact the importance of retailing in order to fully solidify their understanding of operating a business.
Activities:
· Read and review, both orally and written, the various sections of the chapter to fully grasp the meaning of the unit.
· Explain the importance of demographics to non-retail businesses.
· Describe a central place.
· Describe why communities want to attract businesses.
· Document the importance of traffic patterns around a potential retail site.
· Explain the point of indifferences between two cities.
· Create a plan to assist a developer in selecting a site for a shopping center.
· Describe an anchor store.
· Depict the basic features that should be examined when evaluating an existing building for a retail site.
· Detail why customers want to inspect the merchandise.
· Describe the type of sounds used to affect customers.
· Describe the boutique layout.
· Assess selling merchandise through a catalog and web sites.
· Identify two or more reasons regarding importance of the cover of a catalog.
· Explain the merchandise cycle.
· Describe perpetual inventory.
· Compare the criteria used to select advertising media.
· Explain how a window display can generate revenue.
· Identify strategies for use by a retailer to make customers more comfortable when they shop.
· Assess the value of satisfying customers.
· Characterize a top-level manager.
· Interview a potential employee.
· Describe the legality of territorial restrictions.
· Explain what happens if a supplier has no competition in an area.
· Assess the value of a patent and its effectiveness.
· Recognize how a trademark can be lost.
· Investigate the purpose of the Equal Credit Opportunity Act.
· Detail why a retailer would contact a credit bureau.
· Explain the minimum price strategy for retailers.
· Develop a plan for improving visibility in a store.
· Describe how a dishonest consumer requests a false refund.
· Explain an IPO.
· Describe internal and external theft and discuss how it is committed.
· Describe security policies and explain safety precautions for a school-based enterprise.
· Explain why a monitoring system is invaluable for prosecution purposes.
· Develop an employee theft scenario while working with a partner and role play a solution to the problem.
· Discuss check and credit card fraud and counterfeiting.
· Explain the function of selling and describe the steps of the selling process.
· Communicate the ultimate marketing goal which is to create loyal, repeat customers.
· Describe the manager’s role in the school-based enterprise.
· Identify skills needed for management positions.
· Describe training and educational opportunities for present and potential managers.
· Describe the many resources within the school that can help a manager gain the technical skills needed.
· Identify the management role within a school-based enterprise.
· Explain the advantage of “self-managing teams” within a school-based enterprise.
· Compare the advantages and disadvantages of vertical and horizontal organizational structure.