Define the core concepts of the wholesale and retail environment Online Course

Overview

This unit standard is intended for new entrants into the wholesale and retail sector. Persons credited with this unit standard will be able to describe the different market segments, customer profiles and buying habits applicable to the industry.

They will also be able to identify the target market of the organisation in which they work, ensuring that their efforts are aligned with the needs and preferences of their primary audience. These individuals will be capable of identifying the different functional departments within an outlet and understanding their main functions concerning the flow of stock and cash through the business. Additionally, they will be able to explain the environment in which the business operates, taking into account applicable legislation as well as issues related to shrinkage and losses.

Course Content

  • Different sub-sectors and categories within the wholesale/retail industry are identified as they appear in the whole/retail sector, medium and micro-enterprises
  • Categories and sub-sectors within wholesale/retail are matched to given wholesale and retail stores as they appear in the wholesale/retail sector
  • Stakeholders are identified as applicable to the organisation
  • Types of consumer profiles are described according to the wholesale/retail sector
  • Consumer shopping patterns are described according to the wholesale/retail sector
  • The Store’s target market is described according to the organisation’s market segment
  • The procedures for marketing the store to its target market is described according to the organisation’s marketing strategy
 
  • The various operational functional departments in a wholesale/retail store are identified along with their main purpose
  • Stock flow through the store is explained as it applies to the business
  • The flow of cash through the store is explained as it applies to the business
  • The support functions necessary for the operation of a wholesale or retail outlet are explained as it applies to the sector
  • The impact of the job on others in the organisation is explained in terms of systems and subsystems
  • The various forms of legislation that impact on the industry are identified in terms of their titles
  • The objectives of the different pieces of legislation are explained as it applies to each piece of legislation
  • General wholesale and retail terms are used in context as they apply to the industry
  • The concept of shrinkage and losses is understood and explained
  • Methods of shrinkage and losses are identified
  • Reasons for preventative policies and procedures are described
  • The impact of shrinkage and losses on the organisation is explained
  • Non-accredited: Short course only  
  • Duration: 1h 30m
  • Delivery: Classroom/Online/Blended
  • Access Period: 12 Months 
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