MKT 326-01 Introduction to Retailing (UNCG) Spring 2014 THE UNIVERSITY OF NORTH CAROLINA AT GREENSBORO BRYAN SCHOOL OF BUSINESS AND ECONOMICS Department of Marketing, Entrepreneurship, Hospitality and Tourism MKT 326-01: Introduction to Retailing Spring 2014 216 Bryan Building Tuesdays & Thursdays, 11:00 am – 12:15 pm 1. INSTRUCTOR: Dr. Jiyoung Hwang Office: Bryan 350 Email: j_hwang3@uncg.edu (the most efficient means of contact) Course website: http://blackboard.uncg.edu Office hours: Thursdays 1:30-2:30 pm and by appointment 2. COURSE OBJECTIVES This course is designed to familiarize students with the decisions involved in running a retail firm and the concepts and principles for making those decisions. While the course focuses on the retail industry including retailers of consumer services, the content of the course is useful 1) for students interested in working for companies that interface with retailers such as manufacturers of consumer products or 2) for students with a general management or entrepreneurial interest. Specific student learning outcomes are to develop an understanding of: the traditional bases for segmentation and how segmentation can inform retail strategy. how retailer’s differentiate their offering as an element in their corporate strategy. factors affecting strategic decisions involving investments in locations, supply chain and information systems, and customer retention programs. how retailer’s communicate with their customers. tactics (pricing, merchandise assortment, store management, visual merchandising, customer service) for extracting profit from a retail offering. To extend our understanding of retail industry, the course will consist of lectures, cases, and original research by students and case discussions, all of which are intended to provide students with the most engaging (and exciting) learning experience possible. Among those, lectures and cases will serve to organize important issues in retail industry and clarify the material. Assigned chapters, exercise, articles and cases should be read prior to class. 3. REQUIRED TEXT Retailing Management, 9th Edition (L&W) by Michael Levy and Barton Weitz. ** An earlier version is acceptable but students are responsible to be aware of some differences. If you prefer, e-textbook version with access to web sources from the publisher is a good option as well. Other additional readings can be found in pdf form on our course website. 1 MKT 326-01 Introduction to Retailing (UNCG) Spring 2014 4. TERM ASSIGNMENTS AND GRADES Points Class Participation (Individual) Attendance (25) In-class participation (25) Article discussion (random call, 10@3=30) Journal (Individual) Site visit & Reflection (30) Term Project (Group) Part A: Retailer Analysis (50) Part B: Strategy Analysis (100) Presentation for Strategy Analysis (25) Peer evaluation (25) Exams (Individual) 3 exams (50 points each) TOTAL 80 30 200 150 460 + ** Total points can be over 460 if some extra point opportunities are provided. Grades are not curved and will not be rounded. The points you earned will determine the grade you deserve. Final grades can only be changed to correct calculation or input errors on my part. Any issues concerning grading need to be called to my attention in writing within one week of receipt of the grading. Grades assigned at the end of the semester are NOT negotiable. Grading Scale A 93-100% A90-92.99 B+ B B- 87-89.99 83-86.99 80-82.99 C+ C C- 77-79.99 73-76.99 70-72.99 D+ D E 67-69.99 60-66.99 Below 60% 4.1. Class Participation Class participation is evaluated with respect to three parts: attendance, article discussion (random call) and in-class discussion. First, for attendance, arriving to class late or leaving early may count as an absence. For the absence with reasonable situation, the proof or documentation should be filed for the absence to be waived. Ten points will be deducted for missing the field trip to the retail store (TBD). Excused absences include class conflicts, documented illness or true emergencies but you need to notify me about any such conflict before the trip. Other excused absences may be granted, in advance, but should be considered the exception, rather than the rule. Second, in-class discussion participation is to promote your understanding of important concepts and realworld examples reflecting important issues in retail industry and consumer culture. Remember that “consistent, meaningful” contribution (quality- and quantity-wise) to the class discussion will be counted. To do so, it is important for you to read the chapter before each class. Poor participation will be reflected 2 MKT 326-01 Introduction to Retailing (UNCG) Spring 2014 on final grade. Grading in-class discussion participation is necessarily subjective. Some of the criteria for evaluating meaningful contribution include: 1) whether the participant is prepared and the participant goes beyond simple repetition of case/article or facts, 2) whether the participant is a good listener and also interacts with other fellow students, and 3) whether the participant is an effective communication. Third, for this article discussion, the class is divided in half and assigned everyone to either Group A (last name first letter A through N) or Group B (O through Z). Students have at least one chance of being called for discussion of an article that is relevant to the class topic of the day (see course schedule for assignment). Once being class, the student need to briefly present and discuss an article they found related to the topic of the day (5-7 minutes). Any type of written presentation material is required for the grade. The article can be from any source – EBSCOhost, ProQuest, The Wall Street Journal, The New York Times, or a retail trade magazine such as Stores, Chain Store Age, and DSN Retailing Today. Also see for the positing (‘MKT326-01-Intro to Retailing-Sources’) on blackboard. The article must be current (after 2012), directly relevant to the topic of the day, and interesting. 4.2. Journal (Individual) We have one store visit session (TBD). This opportunity makes you to pay attention to experience realworld business. After the store visit, a short journal (2 pages) is required. The content of this journal assignment include your reflection on the topic, site or any related issue. Both attendance and a journal have to be submitted for full credit. 4.3. Term Project (Group) Students will form teams of 4 or 5 students. The teams will be responsible for term project. (See the for more detailed guideline). An outline report and a progress report is required. Progress report is a draft version of term project on the date noted in the schedule. Late report will not be accepted. Although these reports will not be graded, it will be more helpful for you to work on it early so that you get my feedback on much content as possible, which will help you improve the quality of the final report. For the most part, write the report as if it is being written for senior management. This means that it is crucial for you to know that who is the reader and how you need to present effectively. Grade for the final report will be given based on 1) logical arguments based on extensive research using credible sources (most important), 2) proper citation, and 3) other details (grammar, format etc.). Remember that Wikipedia is NOT a credible source for research papers. Also the final report should follow the rules for written assignment (see details on page 5 of this syllabus). Presentation is included as a grading term. Presentation should be professional (e.g., good ppts, professional attire, professional attitude etc.). We have a session for draft presentation so that you get feedback from me and from your fellow students. This is designed to enhance the quality of the presentation – this is all learning experience for all of you. Specific guideline is available on blackboard. 3 MKT 326-01 Introduction to Retailing (UNCG) Spring 2014 Peer Evaluation is also an important component in group project and so it is included as a grading term for group project. Each member of the project teams will provide evaluative feedback on the performance of each individual group member. You will give yourself a rating and provide comments on the contributions each member made toward the successful completion of the project. The ratings provided by each group member will be taken into account in the final calculation of each student’s total grade for the project. The form is available on blackboard. ** When serious conflicts exist among group members prohibiting productive work, you are strongly recommended to contact me ASAP. ** 4.4. Exams There will be three exams. It is designed to evaluate your understanding of the key concepts and applications within retailing contexts. All exams will be open notes, but not open book. The exams will consist of 50% multiple choice, 50% written answer format, though the final exam may contain more written portion than the other two. A make-up exam can be considered only when 1) there is extreme emergency and 2) a written notice is given to the instructor at least 24 hours prior to the exam day. 4.5. Bonus Points There may be one or two extra credit opportunities. If you are planning an absence (both excused and unexcused reason), you will lose the opportunity. But losing these opportunities does not affect your final grade in a negative manner. 5. RULES FOR WRITTEN ASSIGNMENTS No compliance to the following rule will result in a deduction of 5% of the grade. Must be typed with Times New Roman 12 font, double-spaced, and 1-inch margins all sides. For individual work: o File name of assignment for upload: Last Name_Title of Assignment (e.g., Hwang_Site Visit Journal) o On the top left corner of the first page, provide student’s full name, course name, and name of assignment. For group project: o File name of assignment for upload: Group Numer_Title of assignment (e.g., Group #4 – Walmart Strategy Analysis_Progress Report) o On cover page, provide the title of project and all student names. In writing papers, use headings and paragraphs to organize your writing. Use third person. Check spelling, grammar, punctuations, and consistent formatting. All references and quotations using American Psychological Association (Examples: http://owl.english.purdue.edu/owl/resource/560/01/). Jackson library also has a short summary of APA style guideline. No Wikipedia as a source – anyone can add to or alter these entries and thus there are questions about the credibility of the information. Use library databases to search for articles and reports published in newspapers, trade magazines, and academic and business journals. All assignments are due at the beginning of class. Any assignments submitted 1) after the beginning of class and 2) without written rules applied will receive a letter-down grade per day. 4 MKT 326-01 Introduction to Retailing (UNCG) Spring 2014 Late assignments will not be accepted. If accepted, the grade will be lowered on letter grade for every day late, including weekend days. DO NOT EMAIL your assignment to me. Also “My printer did not work at the last minute” is not an acceptable excuse. 6. COURSE POLICIES 6.1. Sending e-mail: When sending e-mails, be sure to put the course name (MKT 326 - Retailing) in the subject line. You will get replied usually within 24 - 48 hours with very few exceptional cases (e.g., conference attendance etc.). In such cases, the instructor will notify you beforehand. 6.2. Modification of class: ***The instructor reserves the right to modify the syllabus, grading system, or calendar to better suit the course.*** Note that occasionally, changes in the schedule of the course, or in the assignments, are announced on Blackboard. Materials may be added to increase your knowledge or efficiency in a particular subject area. It is your responsibility to connect with blackboard to stay abreast of changes, additional material etc. 6.3. Professionalism & Courtesy: We subscribe to the UNCG professional standards. Students are required to be on time and turning off cell phones during class. Students should NOT work on unrelated tasks. The use of laptop, smartphone, and any recording device is prohibited in this class. Any disrespectful or disruptive behavior may result in sanctions including point deduction in final grade, course failure or request to leave the class etc. The examples of desirable and disruptive behaviors include: Desirable behavior Being on time and paying attention to the class Reading chapters before class Asking questions related to the class Sharing own experiences that are relevant to the class Following the guideline in the syllabus and in the project guideline Taking notes Being honest Submitting document for absence Disrespectful/Disruptive behavior Sidebar talking, texting, sleeping, surfing on the Internet, chewing gum, eating a meal Unreasonable compliant about your grade such as arguing about grade when the work does not align with the guideline Providing false excuse/document for absence Any unprofessional behavior that interferes the learning environment of the class Refer to the following for more details on school policies and procedures: http://www.uncg.edu/bae/faculty_student_guidelines.pdf 6.4. The use of course materials 5 MKT 326-01 Introduction to Retailing (UNCG) Spring 2014 Course materials should be used only for this class: sharing the class material with others or posting any of class materials online is prohibited. 6.5. Academic misconduct As the university requires all members to be honest, I take academic misconduct very seriously. My responsibility is to promote honest behavior based on highest standards of honesty and integrity for the students. You, as a student, have a responsibility to report any condition facilitating dishonesty relevant to academic performance in any respect. Any form of academic dishonesty including plagiarism or cheating will not be tolerated. Plagiarism may occur on any paper, report, or other work that is submitted to fulfill course requirements. This includes submitting work done by others such as others’ work on websites. Failing to cite reference properly will result in from re-doing the paper to zero point for an extreme case. Any copy of work done by other students in class or by previous students will result in from grade F on the assignment to request for expulsion from the class. Proof of academic dishonesty will result in a fail in this class. Violations of the Academic Honesty Guidelines will result in judicial action. Violation of the Guidelines includes cheating, plagiarism, bribery, misrepresentation, conspiracy and fabrication.*** Personal digital assistant devices, cellular phones, and other electronic devices not allowed cannot be used during exams. Using any of these during an exam will be reported as a suspected case of Academic Misconduct and handled in accordance with University policy. Check the details: http://sa.uncg.edu/handbook/academic-integrity-policy/ 6.6. Accommodations for Students with disabilities: Students requiring physical or programmatic accommodations should consult UNCG’s Office of Accessibility Resources & Services at http://ods.uncg.edu/ 6 MKT 326-01 Introduction to Retailing (UNCG) Day Jan 14 (Tue) Jan 16 (Thu) TENTATIVE COURSE SCHEDULE (subject to change*) Class focus Jan 23 (Thu) Jan 28 (Tue) Group 2 Article Discussion Assignment – Find and present an article about the effects of the Internet/mobile on retailing or uses of the Internet/mobile to facilitate shopping. Ch 4-Customer Buying Behavior Jan 30 (Thu) Ch 5- Retail Market Strategy Feb 4 (Tue) Feb 11 (Tue) Ch 5- Retail Market Strategy (cont’d) Case 34. Starbucks’ Retail Strategy Exam: Chapters 1-5 plus material covered on class, open notes but not open textbook Ch 7 & Ch 8- Retail Site Location Feb 13 (Thu) Ch 7 & Ch 8- Retail Site Location (cont’d) Feb 18 (Tue) Ch 10- Information Systems and Supply Chain Management Ch 11- Customer Relationship Management Case 17. Nordstrom Rewards Its Customers Research workshop session (Bring your laptop) Feb 6 (Thu) Feb 20 (Thu) Feb 25 (Tue) Due Introduction Syllabus Ch 1. World of Retailing Ch 2- Types of Retailer Group 1 Article Discussion Assignment – Find and present an article about trends and/or new developments in retailing either related to: o a specific type of retailers such as department stores, supermarkets, specialty stores, big box retailers, drug stores, department stores, discount stores, home improvement stores, etc. or o a demographic or social trend on retailing such the effect on retailing or a retailer of the growth in minority markets; GEN Y of Baby Boomers; the aging population; non-traditional family units, etc o Be prepared to discuss how this trend will affect retailing or retailers. (Turn in the article & presentation material at the end of class) Ch 3- Multichannel Retailing Jan 21 (Tue) Spring 2014 Team sign-up Company sign-up *Student Profile on Blackboard with picture * Turn in the article & presentation material in class Outline report (hard copy) 7 MKT 326-01 Introduction to Retailing (UNCG) Feb 27 (Thu) Mar 4 (Tue) Mar 6 (Thu) Mar 8 – 16 Mar 18 (Tue) Ch 12- Managing the Merchandise Planning Process Ch 12- Managing the Merchandise Planning Process (cont’d) Exam: Ch 7, 8, 10, 11, 12 plus material covered in class. Open notes, not open book Spring Break – No Class Ch 13- Buying Merchandise Spring 2014 Have Fun! Mar 20 (Thu) Ch 13- Buying Merchandise (cont’d) Ch 14- Retail Pricing Progress Report (hard copy) Mar 25 (Tue) Turn in the article & presentation material in class Mar 27 (Thu) April 1 (Tue) Ch 14- Retail Pricing (cont’d) Group 1& 2 Article Discussion Assignment – Find and present an article about pricing decisions or practices made by a retailer such as special discounts, margins, sales, approaches for price discrimination, legal restraints on price decisions, etc. No class – Group working day Ch 15- Retail Communication Mix April 3 (Thu) Ch 17- Store Layout, Design, and Visual Merchandising April 8 (Tue) Turn in the article & presentation material in class April 10 (Thu) Ch 18- Customer Service Group 1 & 2 Article Discussion Assignment on Customer Service – Find and present an article about a retailer’s customer service activities Store visit (TBD) April 15 (Tue) Draft presentation April 17 (Thu) Final presentation *Presentation PPT (hard copy) *Site visit reflection (Blackboard submission) Presentation PPT & Final report (hard copy and Blackboard submission) April 22 (Tue) April 24 (Thu) Final presentation Exam: Ch 13, 14, 15, 17, 18 (for multiple questions) & comprehensive for essay questions, open notes, not open book Peer evaluation April 29 (Tue) Peer evaluation form 8