Principles of Retailing: An Elective Online MBA Course

Students who are interested in the historical context surrounding the evolution of modern businesses are often allowed to display such an interest in their elective selections. The principles of retailing is one of the many electives with a more historical flair. Students will examine the rise of modern retailing and explore the logistics and strategy of retail change. This is not all that students can expect though!

What is the Principles of Retailing Online MBA Elective?

The overall objective of the principles of retailing is to outline how retail managers can achieve a competitive advantage in response to the ever-changing demands of consumers. This is done by exploring the fundamentals of marketing and how logistics and purchasing affect the growth of retail outlets. The course also aims to teach patterns for growth in the retail industry and how future managers can take advantage of these patterns.

One widely explored area for potential growth is e-commerce. This is because the platform presents endless opportunities to lower overheads and reach a global market at a fraction of the cost when compared to traditional retail outlets. E-commerce is also hailed as a way to boast a more eco-friendly alternative over conventional stores. This is primarily due to the reduction in facility sizes as storefronts do not necessarily have to be an option for retailers in the e-commerce industry.

Customer service is also a central focus in the principles of retailing elective. Students will often explore ways to add value to products by implementing a strict customer service regimen. This regimen would aim to enhance customer loyalty to a specific retailing outlet, which must coincide with a rigid customer service policy that drives consumers back to the outlet.

Is Principles of Retailing an Easier Online MBA Elective?

The principles of retailing elective can be primarily seen as revision work for much of the component. This is because topics such as customer service and marketing are rigorously taught in core component stages, so much of what the student will learn in this elective won’t be information that is new. However, that is not to say that students will be in for an easy time when selecting this as an elective. Students will instead be required to dedicate themselves to the course material in order to fully learn what is made available to them. The elective is seen as one of the easier selections, but won’t be a simple walk in the park!

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