MKT 135 - Principles of Merchandise Management

Institution:

Kapiolani Community College

Subject:

Description:

3 hours lecture per week Recommended Preparation: BUS 120. MKT 135 is an introduction to the principles of buying, handling, and financial aspects of merchandising management. A practical course on merchandise plans, customer demand, merchandise sources, evaluation methods, negotiating, reordering, merchandise forecasting and budgeting, and inventory controls. Upon successful completion of MKT 135, the student should be able to: Apply concepts and principles of effective buying. Understand buying for different types of stores. Know the different roles of the retail buyer. Construct a merchandise plan. Construct an assortment plan. Understand open-to-buy. Know fundamentals of inventory management. Know methods of inventory shrinkage control. Prepare a buying plan. Explain the importance of managing the open-to-buy. Describe the buying process. Describe buying at the store and local market. Describe buying in the market and at the show. Summarize the process of follow-up, re-orders, and following trends. Identify target consumer for a particular store. Explain the importance of positive vendor relationships. Identify professional and ethical business practices. Demonstrate negotiating skills. Outline the buyer's role in visual merchandising, advertising, public relations, sales promotion, and sales support services. Identify the components of the merchandise plan. Distinguish seasonal planning based on store needs. Identify classification of product groups. Describe product development. Prepare a sales projection. Describe the components of open-to-buy. Describe planning and controlling of inventory dollars. Differentiate between classification and unit control. Compute turnover. Summarize inventory shrinkage control techniques.

Credits:

3.00

Credit Hours:

Prerequisites:

Corequisites:

Exclusions:

Level:

Instructional Type:

Lecture

Notes:

Additional Information:

Historical Version(s):

Institution Website:

kapiolani.hawaii.edu/page/home

Phone Number:

(808) 734-9000

Regional Accreditation:

Western Association of Schools and Colleges

Calendar System:

Semester

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