D2L Corporation
2015-12-17T01:53:24-05:00
2015-12-17T01:53:24-05:00
D2L Corporation
Merchandising
This course prepares students to pursue careers or higher education in the field of merchandising.
2015-12-03
2015
MKME.01
Competency
Economics: Understands the economic principles and concepts fundamental to business operations.
MKME.01.01
Skill
Understand global trade's impact to aid business decision-making.
MKME.01.01.a
Outcome
Identify the effects of global trade on retailing.
MKME.01.01.b
Outcome
Explain current retail trends driven by global trade.
MKME.02
Competency
Human Resources Management: Understands the tools, techniques, and systems that businesses use to plan, staff, lead, and organize its human resources.
MKME.02.01
Skill
Manage staff growth and development to increase productivity and employee satisfaction.
MKME.02.01.a
Outcome
Conduct product "show and tell."
MKME.02.01.b
Outcome
Conduct contests to motivate employees.
MKME.02.01.c
Outcome
Foster "right" environment for employees.
MKME.02.01.d
Outcome
Hold special events for employees.
MKME.02.01.e
Outcome
Involve staff in company activities.
MKME.03
Competency
Information Management: Understands tools, strategies, and systems needed to access, process, maintain, evaluate, and disseminate information to assist business decision-making.
MKME.03.01
Skill
Utilize information-technology tools to manage and perform merchandising responsibilities.
MKME.03.01.a
Outcome
Analyze the impact of technology on retailing.
MKME.03.01.b
Outcome
Utilize merchandising software.
MKME.03.01.c
Outcome
Obtain information from retail databases to aid in product planning and control.
MKME.03.02
Skill
Maintain marketing information to facilitate merchandising activities.
MKME.03.02.a
Outcome
Maintain purchase orders.
MKME.03.02.b
Outcome
Maintain order logs.
MKME.04
Competency
Marketing: Understands the tools, techniques, and systems that businesses use to create exchanges and satisfy organizational objectives.
MKME.04.01
Skill
Acquire an understanding of marketing's role and function in business to facilitate work among departments.
MKME.04.01.a
Outcome
Distinguish between retailing and marketing.
MKME.04.01.b
Outcome
Explain the importance of merchandising to retailers.
MKME.05
Competency
Operations: Understands the processes and systems implemented to monitor, plan, and control the day-to-day activities required to continued business functioning.
MKME.05.01
Skill
Implement security measures to minimize loss.
MKME.05.01.a
Outcome
Explain policies/procedures for handling shoplifters.
MKME.05.01.b
Outcome
Devise/enact merchandising security measures to minimize inventory shrinkage.
MKME.05.02
Skill
Implement organizational skills to improve efficiency and workflow.
MKME.05.02.a
Outcome
Follow up orders.
MKME.05.02.b
Outcome
Coordinate activities with those of other departments/stores.
MKME.05.03
Skill
Prepare registers/terminals for sales operations.
MKME.05.03.a
Outcome
Prepare cash drawers/banks.
MKME.05.03.b
Outcome
Open/close register/terminal.
MKME.06
Competency
Professional Development: Understands concepts, tools, and strategies used to explore, obtain, and develop in a merchandising career.
MKM.06.01
Skill
Acquire information about merchandising to aid in making career choices.
MKME.06.01.a
Outcome
Explain the evolution of retailing.
MKME.06.01.b
Outcome
Describe the role of merchandisers in retailing.
MKME.06.02
Skill
Understand career opportunities in retailing to make informed career decisions.
MKME.06.02.a
Outcome
Identify career opportunities in retailing.
MKME.06.02.b
Outcome
Explain career opportunities.
MKME.07
Competency
Distribution: Understands the concepts and processes needed to move, store, locate, and/or transfer ownership of goods and services.
MKME.07.01
Skill
Acquire foundational knowledge of distribution to understand its role in retailing.
MKME.07.01.a
Outcome
Explain distribution issues and trends.
MKME.07.01.b
Outcome
Discuss the use of electronic data interchange.
MKME.07.02
Skill
Utilize order-fulfillment processes to move product through the supply chain.
MKME.07.02.a
Outcome
Explain the relationship between customer service and distribution.
MKME.07.02.b
Outcome
Use an information system for order fulfillment.
MKME.07.02.c
Outcome
Fulfill orders.
MKME.07.02.d
Outcome
Analyze capabilities of electronic business systems to facilitate order fulfillment.
MKME.07.02.e
Outcome
Assess order fulfillment processes.
MKME.07.03
Skill
Implement receiving processes to ensure accuracy and quality of incoming shipments.
MKME.07.03.a
Outcome
Explain the receiving process.
MKME.07.03.b
Outcome
Explain stock-handling techniques used in receiving deliveries.
MKME.07.03.c
Outcome
Process incoming merchandise.
MKME.07.03.d
Outcome
Resolve problems with incoming shipments.
MKME.07.03.e
Outcome
Establish receiving schedules.
MKME.07.04
Skill
Utilize stock-handling procedures to process incoming merchandise.
MKME.07.04.a
Outcome
Attach source and anti-theft tags.
MKME.07.04.b
Outcome
Price mark merchandise.
MKME.07.04.c
Outcome
Make and record price changes.
MKME.07.04.d
Outcome
Identify hand-tag needs.
MKME.07.04.e
Outcome
Assign codes to each product item.
MKME.07.04.f
Outcome
Route stock to sales floor.
MKME.07.04.g
Outcome
Rotate stock.
MKME.07.04.h
Outcome
Process returned/damaged product.
MKME.07.04.i
Outcome
Transfer stock to/from branches.
MKME.07.04.j
Outcome
Enter product descriptions into a PoS system.
MKME.07.04.k
Outcome
Manage markdown process.
MKME.07.05
Skill
Utilize warehousing procedures to store merchandise until needed.
MKME.07.05.a
Outcome
Explain storing considerations.
MKME.07.05.b
Outcome
Explain the nature of warehousing.
MKME.07.05.c
Outcome
Store merchandise.
MKME.07.05.d
Outcome
Select appropriate storage equipment.
MKME.07.05.e
Outcome
Plan storage space.
MKME.07.06
Skill
Understand transportation processes to move products through the supply chain.
MKME.07.06.a
Outcome
Explain shipping processes.
MKME.07.06.b
Outcome
Identify factors considered when selecting best shipping method.
MKME.07.07
Skill
Utilize inventory-control method to minimize costs and to meet customer demand.
MKME.07.07.a
Outcome
Maintain inventory levels.
MKME.07.07.b
Outcome
Report out-of-stocks.
MKME.07.07.c
Outcome
Complete inventory counts.
MKME.07.07.d
Outcome
Monitor merchandise classification system.
MKME.07.07.e
Outcome
Allocate merchandise to stores/regions.
MKME.07.07.f
Outcome
Track stock by location for department/class/vendor level.
MKME.07.07.g
Outcome
Describe inventory control systems.
MKME.07.07.h
Outcome
Explain types of unit inventory-control systems.
MKME.07.07.i
Outcome
Determine inventory shrinkage.
MKME.07.07.j
Outcome
Maintain inventory-control systems.
MKME.07.07.k
Outcome
Implement category management process.
MKME.07.07.l
Outcome
Plan merchandise flow (turnover, lead time, peak seasons, delivery dates, etc.).
MKME.07.07.m
Outcome
Develop inventory-control systems.
MKME.07.08
Skill
Manage distribution activities to minimize costs and to determine distribution strategies.
MKME.07.08.a
Outcome
Ensure timely delivery of advertised merchandise.
MKME.07.08.b
Outcome
Allocate shelf space.
MKME.07.08.c
Outcome
Develop collaborative relationships with channel members.
MKME.07.08.d
Outcome
Interpret channel strategies.
MKME.07.08.e
Outcome
Establish system for processing dead/excess merchandise.
MKME.07.09
Skill
Assess distribution strategies to improve their effectiveness and to minimize their costs.
MKME.07.09.a
Outcome
Evaluate buyer-seller relationships.
MKME.07.09.b
Outcome
Identify new vendors.
MKME.07.09.c
Outcome
Assess sales and stock performance.
MKME.07.09.d
Outcome
Conduct inventory valuation. (LIFO, FIFO).
MKME.07.09.e
Outcome
Evaluate inventory status/performance (stock, turnover, gross margin, return on inventory, open to buy, etc.).
MKME.08
Competency
Marketing-Information Management: Understands the concepts, systems, and tools needed to gather, access, synthesize, evaluate, and disseminate information for use in making merchandising decisions.
MKME.08.01
Skill
Utilize marketing information to drive merchandising activities.
MKME.08.01.a
Outcome
Analyze information from suppliers.
MKME.08.01.b
Outcome
Scan marketplace to identify factors that could influence merchandising decisions.
MKME.08.01.c
Outcome
Analyze competitors' offerings.
MKME.08.01.d
Outcome
Reconcile marketing plans with assortment and financial plans.
MKME.08.01.e
Outcome
Assess trading area.
MKME.08.01.f
Outcome
Determine price sensitivity.
MKME.09
Competency
Market Planning: Understands the concepts and strategies utilized to determine and target marketing strategies to a select audience and to facilitate merchandising activities.
MKME.09.01
Skill
Employ marketing information to determine and meet customer needs.
MKME.09.01.a
Outcome
Profile target customers.
MKME.09.01.b
Outcome
Determine market needs.
MKME.09.01.c
Outcome
Determine customer demand for merchandise.
MKME.10
Competency
Pricing: Understands concepts and strategies utilized in determining and adjusting prices to maximize return and meet customer perceptions of value.
MKME.10.01
Skill
Employ pricing strategies to determine prices.
MKME.10.01.a
Outcome
Select approach for setting a base price (cost, demand, competition).
MKME.10.01.b
Outcome
Determine cost of product (breakeven, ROI, markup).
MKME.10.01.c
Outcome
Calculate break-even point.
MKME.10.01.d
Outcome
Describe pricing strategies.
MKME.10.01.e
Outcome
Select pricing strategies.
MKME.10.01.f
Outcome
Set prices.
MKME.10.01.g
Outcome
Adjust prices to maximize profitability.
MKME.10.01.h
Outcome
Develop seasonal pricing strategies.
MKME.10.02
Skill
Assess pricing strategies to identify needed changes and to improve profitability.
MKME.10.02.a
Outcome
Ensure price fairness.
MKME.10.02.b
Outcome
Assess changes in price structure.
MKME.10.02.c
Outcome
Analyze variances to planned pricing.
MKME.10.02.d
Outcome
Evaluate pricing decisions.
MKME.11
Competency
Product/Service Management: Understands the concepts and processes needed to obtain, develop, maintain, and improve a product or service mix in response to market opportunities.
MKME.11.01
Skill
Utilize assortment-mix strategies to create maximum mix of products at minimum cost.
MKME.11.01.a
Outcome
Obtain samples.
MKME.11.01.b
Outcome
Determine quality of merchandise to offer.
MKME.11.01.c
Outcome
Determine width and depth of assortment strategies.
MKME.11.01.d
Outcome
Select mix of brands.
MKME.11.01.e
Outcome
Plan merchandise assortment (e.g., styling, sizes, quantities, colors).
MKME.11.01.f
Outcome
Identify new private brand opportunities.
MKME.11.02
Skill
Develop merchandise plans (budgets) to guide selection of retail products.
MKME.11.02.a
Outcome
Explain the nature of merchandise plans (budgets).
MKME.11.02.b
Outcome
Calculate open-to-buy.
MKME.11.02.c
Outcome
Create/maintain daily sales plan.
MKME.11.02.d
Outcome
Identify emerging trends.
MKME.11.02.e
Outcome
Plan stock.
MKME.11.02.f
Outcome
Plan reductions (e.g., anticipated markdowns, employee/other discounts, stock shortages).
MKME.11.02.g
Outcome
Plan purchases.
MKME.11.02.h
Outcome
Compare and contrast buying from domestic sources with that of foreign sources.
MKME.11.02.i
Outcome
Determine final cost of purchases from domestic and international sources.
MKME.11.02.j
Outcome
Plan gross margin.
MKME.11.02.k
Outcome
Prepare merchandising plans (budgets).
MKME.11.03
Skill
Perform buying activities to obtain products for resale.
MKME.11.03.a
Outcome
Write purchase orders.
MKME.11.03.b
Outcome
Analyze the use of central buying.
MKME.11.03.c
Outcome
Determine stock turnover.
MKME.11.03.d
Outcome
Determine what to buy/reorder.
MKME.11.03.e
Outcome
Determine quantities to buy/reorder.
MKME.11.03.f
Outcome
Determine when to buy/reorder.
MKME.11.03.g
Outcome
Establish reorder points.
MKME.11.04
Skill
Analyze vendor performance to choose vendors and merchandise.
MKME.11.04.a
Outcome
Evaluate vendors' merchandise.
MKME.11.04.b
Outcome
Choose vendors.
MKME.11.04.c
Outcome
Negotiate terms with vendors.
MKME.11.05
Skill
Position products/services to acquire desired business image.
MKME.11.05.a
Outcome
Identify components of a retail image.
MKME.11.05.b
Outcome
Implement techniques to increase customer's product exposure.
MKME.11.05.c
Outcome
Obtain product exclusives.
MKME.12
Competency
Promotion: Understands the concepts and strategies needed to communicate information about products, services, images, and/or ideas to achieve a desired outcome.
MKME.12.01
Skill
Advertise to communicate promotional messages to targeted audiences.
MKME.12.01.a
Outcome
Proof ads.
MKME.12.01.b
Outcome
Analyze ad performance.
MKME.12.02
Skill
Utilize special events to increase sales.
MKME.12.02.a
Outcome
Plan special events.
MKME.12.02.b
Outcome
Prepare store/department for special event.
MKME.12.03
Skill
Employ visual merchandising techniques to increase interest in product offerings.
MKME.12.03.a
Outcome
Explain the use of visual merchandising in retailing.
MKME.12.03.b
Outcome
Distinguish between visual merchandising and display.
MKME.12.03.c
Outcome
Place merchandise for impact.
MKME.12.03.d
Outcome
Determine on-floor assortments.
MKME.12.03.e
Outcome
Use cross-merchandising techniques.
MKME.12.03.f
Outcome
Read/implement planograms.
MKME.12.03.g
Outcome
Create planograms.
MKME.12.04
Skill
Implement display techniques to attract customers and increase sales potential.
MKME.12.04.a
Outcome
Explain types of display arrangements.
MKME.12.04.b
Outcome
Maintain displays.
MKME.12.04.c
Outcome
Dismantle/store displays/display fixtures/forms.
MKME.12.04.d
Outcome
Create promotional signs.
MKME.12.04.e
Outcome
Select and use display fixtures/forms.
MKME.12.04.f
Outcome
Use lighting to highlight products.
MKME.12.04.g
Outcome
Set up point-of-sale displays and handouts.
MKME.12.04.h
Outcome
Create displays.
MKME.12.05
Skill
Manage promotional activities to maximize return on promotional efforts.
MKME.12.05.a
Outcome
Develop promotional calendar.
MKME.12.05.b
Outcome
Plan/schedule displays/themes with management.
MKME.12.05.c
Outcome
Execute seasonal vendor co-op participation plans.
MKME.12.05.d
Outcome
Develop visual presentation guidelines.
MKME.12.05.e
Outcome
Plan promotional strategy (promotional objectives, budget, promotional mix, etc.).
MKME.12.05.f
Outcome
Measure success of promotional efforts.
MKME.13
Competency
Selling: Understands the concepts and actions needed to determine client needs and wants and respond through planned, personalized communication that influences purchase decisions and enhances future business opportunities.
MKME.13.01
Skill
Acquire product knowledge to communicate product benefits and to ensure appropriateness of product for the customer.
MKME.13.01.a
Outcome
Explain the use of brand names in selling.
MKME.13.02
Skill
Employ sales processes and techniques to enhance customer relationships and to increase the likelihood of making sales.
MKME.13.02.a
Outcome
Establish relationship with customer/client.
MKME.13.02.b
Outcome
Determine customer/client needs.
MKME.13.02.c
Outcome
Recommend specific product.
MKME.13.02.d
Outcome
Demonstrate good/service.
MKME.13.02.e
Outcome
Convert customer/client objections into selling points.
MKME.13.02.f
Outcome
Close the sale.
MKME.13.02.g
Outcome
Demonstrate suggestions selling.
MKME.13.02.h
Outcome
Plan follow-up strategies for use in selling.
MKME.13.03
Skill
Implement support activities to facilitate the selling process.
MKME.13.03.a
Outcome
Arrange delivery of purchases.
MKME.13.03.b
Outcome
Pack and wrap purchases.
MKME.13.03.c
Outcome
Process special orders.
MKME.13.03.d
Outcome
Sell gift certificates.
MKME.13.03.e
Outcome
Process telephone orders.
MKME.13.03.f
Outcome
Process returns/exchanges.
MKME.13.03.g
Outcome
Process sales documentation.
MKME.13.04
Skill
Collect payment from customer to complete customer transaction.
MKME.13.04.a
Outcome
Calculate miscellaneous charges.
MKME.13.04.b
Outcome
Process sales transactions.
MKME.13.04.c
Outcome
Accept checks from customers.
MKME.13.04.d
Outcome
Operate register/terminal.
MKME.13.05
Skill
Guide sales staff to improve their success rate and to minimize staff turnover.
MKME.13.05.a
Outcome
Provide information about incoming merchandise to sales staff.
MKME.13.05.b
Outcome
Monitor on-floor selling activities.
MKME.13.06
Skill
Control sales activities to meet sales goals/objectives.
MKME.13.06.a
Outcome
Analyze sales performance.