- Course type: Self-paced
- Available Lessons: 96
- Average Lesson Length: 8 min
Eligible for Credit: Yes
Earn transferable credit by taking this course for credit.
Watch a preview:chapter 1 / lesson 1What Is the Strategic Planning Process? - Model, Steps & Examples
Course SummaryBusiness 327 has been evaluated and recommended for 3 semester hours and may be transferred to over 2,000 colleges and universities. With this self-paced course, you get engaging lessons, expert instructors who make even the most challenging business topics simple, and an excellent resource for getting a head start on your degree.
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Course Practice TestCheck your knowledge of this course with a 50-question practice test.
- Comprehensive test covering all topics
- Detailed video explanations for wrong answers
After completing this course, you will understand and be able to explain a wide range of retail concepts, including retail opportunity, competitive advantage, market growth, digital marketing, retail planning, retail performance evaluation and more.
Your grade for this course will be calculated out of 300. The minimum score required to pass and become eligible for college credit for this course is 210, or an overall course grade of 70%. The table below shows the assignments you must complete and how they'll be incorporated into the overall grade.
|Final Assignment 1||50|
|Final Assignment 2||50|
|Proctored Final Exam||100|
Quizzes are meant to test your comprehension of each lesson as you progress through the course. Here's a breakdown of how you will be graded on quizzes and how they'll factor into your final score:
- You will have 3 attempts to take each quiz for a score.
- The highest score of your first 3 attempts will be recorded as your score for each quiz.
- When you've completed the course, the highest scores from your first 3 attempts at each quiz will be averaged together and weighed against the total possible points for quizzes. For instance, if your average quiz score is 85%, you'll receive 85 out of 100 possible points for quizzes.
- After your initial 3 attempts, you can take a quiz for practice as many times as you'd like.
- You will need to pass each quiz with a score of at least 80% to earn course progress for the lesson. However, it is not necessary to earn 80% within the first three quiz attempts.
Assignments are intended to assess your application, analysis, and critical thinking skills in relation to the concepts you learn in the course. Two assignments are required for this course. You can access them here.
- All assignment scores will total up to 100 points.
- Your assignment(s) will be graded by a Study.com instructor.
- The instructor will provide a graded rubric for you along with feedback on what you did well and what could be improved.
- If you are unsatisfied with your score, you will be able to revise and resubmit your assignment(s) twice. You are free to resubmit an assignment within two weeks of your most recent exam attempt or at any point if you have an active college accelerator membership.
Proctored Final Exam
The proctored final exam is a cumulative test designed to ensure that you've mastered the material in the course.
- You'll earn points equivalent to the percentage grade you receive on your proctored final. (So if you earn 90% on the final, that's 90 points toward your final grade.)
- If you're unsatisfied with your score on the exam, you'll be eligible to retake the exam after a 3-day waiting period.
- You can only retake the exam twice, so be sure to use your study guide and fully prepare yourself before you take the exam again.
Items Allowed on Study.com Proctored Exam for Business 327:
- One sheet of blank scratch paper
- Pen or pencil
Items NOT Allowed on Study.com Proctored Exam for Business 327:
- Office programs, web browsers, or any programs other than Software Secure (including Study.com lessons)
- Textbooks (digital or physical)
- Mobile phones, headphones, speakers, TVs, or radios
- Notebooks or notes
- Any calculators
Upon completion of the course, the student will be able to:
• Analyze the importance of strategy in the retail organization.
• Evaluate the various strategies that will increase return on investment in the retail organization.
• Compare and contrast the strategic roles that planning, organizing, directing, leading, controlling, and technology have in the successful retail organization.
• Measure consumer behaviors to determine how the retail strategy impacts purchasing decisions.
• Devise retail strategies for new market entry, growth markets, mature markets, and declining markets.
• Critique the strategic retail plan to determine competitive advantages.!!!Prerequisites
There are no prerequisites for this course.
Business 327 consists of short video lessons that are organized into topical chapters. Each video is approximately 5-10 minutes in length and comes with a quick quiz to help you measure your learning. At the end of each chapter, you can complete a chapter test to see if you're ready to move on or have some material to review. Once you've completed the entire course, take the practice test to see if you're ready to earn credit. Use the study tools in the course to prepare for your final exam.
The course is completely self-paced. Watch lessons on your schedule whenever and wherever you want. When you're ready, take the final exam.
Click here for information on required technology for using Study.com.
This course has been evaluated and recommended by both ACE and NCCRS for 3 semester hours in the upper division baccalaureate degree category. To earn credit, follow these steps:
- If you already have a school in mind, check with your registrar to see if your school is one of the 2,000 colleges and universities that accept credit for courses recommended by either ACE or NCCRS.
- Complete Business 327: Retail Strategy by watching video lessons and taking short quizzes.
- Take the credit-granting Business 327: Retail Strategy exam on our site.
- Transfer credit for Business 327: Retail Strategy to the accredited school of your choice!
- Check out this page for more information on how you can transfer your credit.
|Introduction to Retail Strategy||Define the strategic planning process; explain components of a strategic retail plan and market strategy; explain the differences between market orientation and sales orientation; and compare the 5 C's of marketing.|
|Understanding Retail Opportunities||Assess the market and industry for attractiveness at both the macro- and micro-levels; understand Porter's five forces and relate them to the retail environment; and clarify how the competitive environment impacts market attractiveness.|
|Market Knowledge & Forecasting||Define and give examples of forecasting tools, market research and market potential; analyze the retail market environment; and show how diffusion of innovation and consumer judgement/bias impact the forecasting process.|
|Retail Strategy & Attractive Market Segments||Define market segments and show how consumer buying decisions impact them; differentiate between demographic, psychographic and geographic segmentation; and clarify the factors that determine market segment attractiveness.|
|Creating a Competitive Advantage||List the elements and types of competitive advantages; differentiate between the various strategies for growing competitive advantages; develop analysis tools to understand market potentials; and create an implementation plan.|
|New Market Entry Strategies||Explain how retailers analyze and decide to enter new markets; clarify how consumers adopt new entries to the marketplace; define the product life cycle; and examine the role of advertising in the new market entry strategy.|
|Growth, Mature & Declining Markets||Define and give examples of a growth market strategy; differentiate between the market leader strategy and the market follower strategy; explain how a market evolves into maturity and what retail strategies take advantage of this; and differentiate between retail options when a market goes into decline.|
|Marketing Strategies & Digital Marketing||Explain the difference between e-commerce and m-commerce; explain how the Internet has impacted retail sales and digital marketing; create a digital marketing strategy; and show how SEO, content marketing and social media are used as digital marketing tools.|
|Retail Strategy & Consumer Behavior||Explain each step in the consumer decision-making process; give examples of consumer behaviors that impact their decision to buy; and clarify how atmospherics, cognitive dissonance and brand familiarity impacts the purchase process.|
|Strategic Retail Planning||Define and give examples of growth strategy and market presentation; and evaluate each of the seven steps in the strategic retail planning process.|
|Evaluating Retail Performance||Differentiate between the tools and metrics used during the evaluation process; define and give examples of return on investment, performance goals and profitability ratios; show how customer relationship management contributes to the evaluation process; and explain the tools that show whether or not a retail strategy was actually successful.|
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What to Expect For the Exam
This Study.com course has been evaluated and recommended for college credit. Once you've completed this course, you can take the proctored final exam and potentially earn credit. Follow the steps below to take the exam.
Before taking the exam, all of the following requirements must be met:
|A College Accelerator Study.com membership.|
|Completed all lessons in Business 327: Retail Strategy course and achieved 100% Quiz Progress.|
|Not attempted to take this exam within the last three days.|
|Have available proctored exams in this month of membership.|
|Have not taken this exam three times. (0/3)|
|Complete the exam readiness quiz.|
|Please note: Assignments are required to complete this course for credit. You have submitted / required assignments for this course.|
Please meet all of the pre-requirements in the Pre-Exam Checklist in order to take the exam.
Exam Process Details
1. Register For Exam
Registering for the exam is simple. First, be sure you meet the system requirements. Next, you'll need to agree to the academic integrity policy. Then just confirm your name and the exam name, and you're ready to go!
2. Download Software Secure
You'll receive an unique access code. Please write this down — you'll need it to take the exam. Then download Software Secure and follow the installation instructions.
3. Take Exam
The exam contains 50 - 100 multiple choice questions. You will have two hours to complete the exam, so don't start until you're sure you can complete the entire thing. And remember to pace yourself!
4. Get Exam Results
We will send you an email with your official exam results within 1 to 2 weeks. If you would like to raise your grade after receiving your exam results, you can retake quizzes with fewer than 3 attempts. You will then need to retake the final exam.
Earning College Credit
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