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LO-1
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Explains the retailing sector, its functions, economic and social impacts of the sector and developments in the sector and interprets the career opportunities
* Explains the scope and development stages of retailing
* Defines retailing functions
* Evaluates the characteristics of retailing
* Analyzes retail industry
* Explains the economic and social impacts of retailing
* Evaluates career opportunities in the retail industry
* Follows the latest trends and developments in the retail industry |
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LO-2
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Analyzes environmental factors affecting the retail industry
* Explains the demographic factors that affect the activities of retailers
* Identifies the economic factors that affect retailing
* Evaluates how socio-cultural and psychological factors affect retailers
* Explains the competition and the types of competition in the retail industry
* Understands the legal regulations and internationalization that affect the activities of retailers |
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LO-3
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Explains the ethical and social responsibilities of retailers towards their customers, employees and society
* Recognizes the importance & scope of ethics and unethical practices in retailing
* Explains the social responsibilities of retailers towards various parties
* Distinguishes between consumer ethics and consumer behavior that may cause ethical problems
* Evaluates environmental retailing practices |
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LO-4
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Identifies the different types of retailing within the retail industry
* Categorizes the retail institutions
* Recognizes the types of in-store retailing
* Explains the concept and practices of non-store retailing
* Evaluates the coexistence of in-store and non-store retailing |
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LO-5
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Evaluates ownership patterns in the retail industry and compare different aspects of service retailing
* Categorizes retailers by ownership
* Understands the strengths and weaknesses of independent retailing
* Identifies chain stores
* Explains the franchise system and scope
* Groups vertical marketing systems
* Explains the leasing of a department store
* Explains the establishment purposes of consumer cooperatives
* Defines service retailing |
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LO-6
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Evaluates the internationalization trends in retailing and explaining the requirements of international retailing activities
* Explains the concept and scope of international retailing
* Evaluates the reasons that drive retailers to international markets
* Identifies the factors affecting internationalization decisions
* Compares international market entry options |