This course has been organised into 5 parts: Each part has a corresponding video lecture/s and associated quizzes. Learners are required to watch the videos, do the readings, and complete the 5 lesson quizzes in order to pass the course. Additional activities, such as forums and projects, are highly encouraged.
Lecture I: .Segmenting the Sector - this module deals with the sectors and sub-sectors of the economy and especially the retail sector. The module will also address types of retailers and the stakeholders of the retail sector. You need to complete all required weekly quizzes in Lecture I in order to begin Lecture II quizzes and so on.
Lecture II: Identifying Markets will follow immediately after Lecture I and deals with the target market of the store and the demographics that make up the target market. This modules also addresses the ways of marketing the store effectively.
Lecture Ill: Stock-flow and Sales will follow immediately after Lecture ll and looks at the various business systems that make up a retail business, which include sales, warehousing, ordering and receiving. We will also address the support function that underpin these business functions in your store.
Lecture IV: Wholesale and Retail Environment will follow immediately after Lecture lll and looks at the various pieces of legislation that impact the workplace. We will identify the various pieces of legislation such as Health and Safety Act, the Skills Development Act and the Consumer Protection Act to name a few. We will also address the question of shrinkage and how it impact gross profit.
- Identify different types of retailers in large, medium and micro enterprises
- Identify stakeholders within your organisation
- Identify the types of customers who shop in your store
- Describe different shopping patterns as occur in your store
- Understand what is meant by a market segment
- Identify your store’s target market
- Describe how your store markets itself to it’s target market
- Identify various departments in the store
- Explain how stock flows through the store from point of receiving
- Explain how cash is processed after it has been received as payment by customers
- Identify the support functions of a large retail business
- Explain how different jobs affect others and the systems in the store
- Identify the important laws that affect the retail industry.
- Explain key aspect of these laws.
Lectures and assignments are organized to achieve these objectives:
- Segment the wholesale and retail sector.
- Identify the store’s target market.
- Explain the flow of stock and sales through a wholesale/retail operation.
- Demonstrate an understanding of the wholesale & retail business environment
- Demonstrate an understanding of the concept of shrinkage and losses within a Wholesale and Retail environment