The purpose of this course is to prepare the student to understand the importance of retail buying in marketing and the retail industry.

Today’s buyers face more challenges than ever before. In the long run they will be responsible for the success or the profitability of their retail establishment.  Retail buying has become more sophisticated and has more resources than ever before. Buyers have many available sources globally.  Different channels of distribution have become more common to business success. Technology has become critical to the flow of information needed to have the right merchandise at the right location.

At the beginning of each chapter, the author has set up specific learning objectives called performance objectives that the student should focus on. The chapter closes with Summary Points and Review Activities.

Course Objectives/Learning Objectives

• Understanding the importance of retail environment to include changes in technology.
• Be able to identify the qualifications needed to become a buyer and how they are evaluated.
• Be able to identify, understand, and apply the differences between buying fashion merchandise and basic merchandise.
• Be able to identify internal and external sources of information for making buying decisions.
• Understand the changes in demographic and consumer behavior and the most recent changes in psychographic changes in the consumer markets.
• Understand the theories of fashion adoption and how retailers establish a fashion image.
• Understand the methods used in forecasting inventory needs and predicting sales based on stock to sales ratios and stock turnover.

Required Text/Materials:

Retailing Buying, by Richard Codfelter, 7th edition, 2023 Fairchild books, ISBN 978-1-5013-7572-9

This course is part of a program at ACC titled first day access or FDA. When students register for the course, they are automatically charged a fee for course materials (e-text). Purchasing the materials in another way costs almost twice the amount. See the link called “First Day Course Materials” in Blackboard.

Course Requirements

1. Exams (800 points, 200 points each)  There will be 4 exams for this course. The exams are taken using the Respondus/Monitoring Software in Blackboard and they must be taken using your computer and the Lockdown Browser (I will provide detailed information for setting up this system prior to the first exam). In addition, a web cam is needed to take these tests. Here is the link for downloading the software:

https://instruction.austincc.edu/students/article/respondus-quick-start-guide/

Each test will be made up of 2 parts. There will be 60 multiple choice/true false questions and will be valued at 3 points each. The essay part of the test is valued at 20 points. Total value of each exam is 200 points.

Test Review:  There is a link titled “Test Review Notes” located in the Course Content folder for each unit.  This can serve as a review tool in preparation for the exams but does not substitute for the textbook.

2. Chapter Quizzes (300 points, 20 points each)  There is a chapter quiz for each chapter located in the modules in Blackboard.  They are due on the last day listed for the corresponding exam, but can be completed ahead of the due date. It is recommended that you complete each quiz as you read them and use them to prepare for exams.

3. Unit Assignments (100 points, 25 points each) At the end of most chapters is a section entitled “Retail Buying Math Practice”.  You will need to calculate the correct answer for the following:

Unit 1:  Chapter 3, Retail Buying Math Practice, questions 1-5

Unit 2:  Chapter 7, Retail Buying Math Practice, questions 1-5

Unit 3:  Chapter 10, Retail Buying Math Practice, questions 1-4

Unit 4:  Chapter 14, Retail Buying Math Practice, questions 1-5

Email your calculations directly to the instructor by the due date.  They may be completed prior to the due date.

4. Discussion questions (100 points)  There will be questions posted in the Discussion Board that reflect buying trends, current events, strategies, and other topics related to this class.  You will earn 10 points per question by entering responses and discussing ideas with your classmates.  Each question will be open randomly and be available for only two weeks.