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Retailing Management

Description

Retailers serve as a vital role linking manufacturers and wholesalers with their ultimate customers. Firms involved in retailing offer the graduate an early opportunity to apply his/her knowledge in a variety of situations and across a wide assortment of products and services. The marked growth of general merchandisers, such as department stores, discount houses, chain and "warehouse-showroom" stores, has brought about greater emphasis on professional training as part of the preparation for a career in retailing.

Career Opportunities

In the past, starting salaries and job assignments in retailing have been somewhat lower than in manufacturing or advertising. Responsibilities and degrees of authority also have been somewhat lower. In addition, retail also has had a bad reputation for working long and unattractive hours. Because of these perceptions, retailing garnered a poor reputation among recruits.

However, these negative factors are changing. Many retailers now offer compensation packages comparable to other marketing positions. In addition, recruits who are successful in training are now being placed in positions with important responsibilities very quickly. Although retailers are often required to work when others do not (holidays, weekends, etc.), retailers generally do not work any longer hours than other professionals. Today, many retail companies represent the fastest growing segment of the economy, and as such also represent opportunities for fast promotion and responsibility. In addition retail management can offer a level of job stability not found in many other segments of today's marketplace. Once promoted into store management, retailers earn very attractive salaries and have very challenging and rewarding jobs. A second common career path in retailing is that of merchandise buyer. In order to acquire an assortment of sellable products, buyers must stay abreast of the marketplace and must work closely with manufacturers, wholesalers and suppliers. If you enjoy interacting with and helping people, retailing can be a wonderful, challenging career.

Educational Background

Successful retailing executives must plan, organize, communicate, and anticipate customers' needs. In addition to the elective courses in retailing and sales, students should opt to take course work in management, personnel, social psychology, and communications.

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