Standard: Understands the economic principles and concepts fundamental to business operations
Performance Element: Understand global trade’s impact to aid business decision-making.
Performance Indicators:
Identify the effects of global trade on retailing (EC:094) (SP)
Explain current retail trends driven by global trade (EC:102) (SP)
Standard: Understands the tools, techniques, and systems that businesses use to plan, staff, lead, and organize its human resources
Performance Element: Manage staff growth and development to increase productivity and employee satisfaction.
Performance Indicators:
Conduct product “show and tell” (HR:398) (SU)
Conduct contests to motivate employees (HR:397) (SU)
Hold special events for employees (HR:404) (SU)
Standard: Understands the tools, techniques, and systems that businesses use to create exchanges and satisfy organizational objectives
Performance Element: Acquire an understanding of marketing’s role and function in business to facilitate work among departments.
Performance Indicators:
Distinguish between retailing and marketing (MK:003) (CS)
Explain the importance of merchandising to retailers (MK:020) (CS)
Standard: Understands tools, strategies, and systems needed to access, process, maintain, evaluate, and disseminate information to assist business decision-making
Performance Element: Utilize information-technology tools to manage and perform merchandising responsibilities.
Performance Indicators:
Analyze the impact of technology on retailing (NF:041) (SP)
Utilize merchandising software (NF:107) (SP)
Obtain information from retail databases to aid in product planning and control (NF:104) (SP)
Performance Element: Maintain marketing information to facilitate merchandising activities.
Performance Indicators:
Maintain purchase orders (NF:102) (SP)
Maintain order logs (NF:108) (SP)
Standard: Understands the processes and systems implemented to monitor, plan, and control the day-to-day activities required for continued business functioning
Performance Element: Implement security policies/procedures to minimize chance for loss.
Performance Indicators:
Explain policies/procedures for handling shoplifters (OP:122) (CS)
Devise/Enact merchandise security measures to minimize inventory shrinkage (OP:172) (SP)
Performance Element: Implement organizational skills to improve efficiency and work flow.
Performance Indicators:
Follow up orders (OP:040) (CS)
Performance Element: Prepare registers/terminals for sales operations.
Performance Indicators:
Prepare cash drawers/banks (OP:194) (CS)
Open/Close register/terminal (OP:195) (CS)
Performance Element: Acquire foundational knowledge of distribution to understand its role and function.
Performance Indicators:
Explain the nature and scope of distribution (OP:522) (CS)
Explain the relationship between customer service and distribution (OP:523) (CS)
Describe the use of technology in distribution (OP:524) (SP)
Explain legal considerations in distribution (OP:525) (SP)
Describe ethical considerations in distribution (OP:526) (SP)
Explain distribution issues and trends (OP:377) (SP)
Discuss the use of electronic data interchange (EDI) (OP:378) (SP)
Performance Element: Utilize order-fulfillment processes to move product through the supply chain.
Performance Indicators:
Use an information system for order fulfillment (OP:380) (CS)
Fulfill orders (OP:381) (CS)
Analyze capabilities of electronic business systems to facilitate order fulfillment (OP:382) (MN)
Assess order fulfillment processes (OP:383) (MN)
Performance Element: Implement receiving processes to ensure accuracy and quality of incoming shipments.
Performance Indicators:
Explain the receiving process (OP:384) (CS)
Explain stock-handling techniques used in receiving deliveries (OP:385) (CS)
Process incoming merchandise (OP:386) (CS)
Resolve problems with incoming shipments (OP:387) (CS)
Establish receiving schedules (OP:388) (MN)
Performance Element: Utilize stock-handling procedures to process incoming inventory.
Performance Indicators:
Attach source and anti-theft tags (OP:389) (CS)
Price mark merchandise (OP:390) (CS)
Make and record price changes (OP:391) (SP)
Identify hang-tag needs (OP:392) (SP)
Assign codes to each product item (OP:393) (SP)
Route stock to sales floor (OP:394) (CS)
Rotate stock (OP:395) (CS)
Process returned/damaged product (OP:396) (CS)
Transfer stock to/from branches (OP:397) (SP)
Enter product descriptions into a PoS system (OP:398) (SP)
Manage markdown process (OP:399) (MN)
Performance Element: Utilize warehousing procedures to store inventory until needed.
Performance Indicators:
Explain storing considerations (OP:400) (CS)
Explain the nature of warehousing (OP:401) (CS)
Store inventory (OP:402) (CS)
Select appropriate storage equipment (OP:403) (MN)
Plan storage space (OP:404) (MN)
Performance Element: Understand transportation processes to move products through the supply chain.
Performance Indicators:
Explain shipping processes (OP:405) (CS)
Identify factors considered when selecting best shipping method (OP:406) (SP)
Performance Element: Utilize inventory-control methods to minimize costs and to meet customer demand.
Performance Indicators:
Maintain inventory levels (OP:407) (CS)
Report out-of-stocks (OP:408) (CS)
Complete inventory counts (OP:409) (CS)
Monitor merchandise classification system (OP:410) (SP)
Allocate merchandise to stores/regions (OP:411) (SP)
Track stock by location for department/class/vendor level (OP:412) (SP)
Describe inventory control systems (OP:413) (CS)
Explain types of unit inventory-control systems (OP:414) (SP)
Determine inventory shrinkage (OP:415) (SP)
Maintain inventory-control systems (OP:416) (SP)
Implement category management process (OP:417) (SP)
Plan inventory flow (turnover, lead time, peak seasons, delivery dates, etc.) (OP:418) (MN)
Develop inventory-control systems (OP:419) (MN)
Performance Element: Manage distribution activities to minimize costs and to determine distribution strategies.
Performance Indicators:
Ensure timely delivery of advertised merchandise (OP:420) (SP)
Allocate shelf space (OP:421) (MN)
Develop collaborative relationships with channel members in retailing (OP:422) (MN)
Interpret channel strategies (OP:423) (MN)
Establish system for processing dead/excess merchandise (OP:424) (MN)
Performance Element: Assess distribution strategies to improve their effectiveness and to minimize their costs.
Performance Indicators:
Identify new vendors (OP:425) (MN)
Assess sales and stock performance (OP:426) (MN)
Conduct inventory valuation (LIFO, FIFO) (OP:427) (MN)
Evaluate inventory status/performance (stock turnover, gross margin, return on inventory, open to buy, etc.) (OP:428) (MN)
Standard: Understands concepts, tools, and strategies used to explore, obtain, and develop in a business career
Performance Element: Acquire information about merchandising to aid in making career choices.
Performance Indicators:
Explain the evolution of retailing (PD:148) (CS)
Describe the role of merchandisers in retailing (PD:128) (CS)
Performance Element: Understand career opportunities in retailing to make career decisions.
Performance Indicators:
Identify career opportunities in retailing (PD:038) (CS)
Explain career opportunities in merchandising (PD:134) (CS)
Standard: Understands the concepts and processes needed to obtain, develop, maintain, and improve a product or service mix in response to market opportunities and to build brand for the organization
Performance Element: Apply quality assurances to enhance product/service offerings.
Performance Indicators:
Evaluate customer experience (PM:138) (MN)
Determine the impact of product standards’ issues associated with global business (PM:278) (SP)
Performance Element: Employ product-mix strategies to meet customer expectations.
Performance Indicators:
Identify product to fill customer need (PM:130) (MN)
Determine services to provide customers (PM:036) (MN)
Performance Element: Position company to acquire desired business image.
Performance Indicators:
Identify customer touch points (PM:277) (SP)
Performance Element: Utilize assortment-mix strategies to create maximum mix of products at minimum cost.
Performance Indicators:
Obtain samples (PM:253) (SP)
Determine quality of merchandise to offer (PM:223) (SP)
Determine width and depth of assortment strategies (PM:225) (MN)
Select mix of brands (PM:256) (MN)
Plan merchandise assortment (e.g., styling, sizes, quantities, colors) (PM:254) (SP)
Identify new private brand opportunities (PM:244) (MN)
Develop seasonal assortment strategies (PM:230) (MN)
Develop style out strategy (PM:231) (MN)
Performance Element: Develop merchandise plans (budgets) to guide selection of retail products.
Performance Indicators:
Explain the nature of merchandise plans (budgets) (PM:061) (SP)
Calculate open-to-buy (PM:058) (SP)
Create/maintain daily sales plan (PM:219) (SP)
Identify emerging trends (PM:257) (SP)
Plan stock (PM:062) (SP)
Plan reductions (e.g., anticipated markdowns, employee/other discounts, stock shortages) (PM:063) (SP)
Plan purchases (PM:064) (SP)
Compare and contrast buying from domestic sources with that of foreign sources (PM:192) (SP)
Determine final cost of purchases from domestic and international sources (PM:193) (SP)
Plan gross margin (PM:065) (MN)
Prepare merchandising plans (budgets) (PM:067) (MN)
Performance Element: Perform buying activities to obtain products for resale.
Performance Indicators:
Write purchase orders (PM:258) (SP)
Analyze the use of central buying (PM:259) (SP)
Determine stock turnover (PM:224) (SP)
Determine what to buy/reorder (PM:260) (SP)
Determine quantities to buy/reorder (PM:261) (SP)
Determine when to buy/reorder (PM:262) (SP)
Establish reorder points (PM:232) (SP)
Performance Element: Analyze vendor performance to choose vendors and goods/services.
Performance Indicators:
Evaluate vendors’ goods and services (PM:239) (SP)
Choose vendors (PM:263) (SP)
Negotiate terms with suppliers (PM:264) (SP)
Performance Element: Position products/services to acquire desired business image.
Performance Indicators:
Identify components of a retail image (PM:243) (SP)
Implement techniques to increase customer’s product exposure (PM:248) (MN)
Obtain product exclusives (PM:252) (MN)
Standard: Understands the concepts, systems, and tools needed to gather, access, synthesize, evaluate, and disseminate information for use in making business decisions
Performance Element: Apply pricing information to facilitate pricing decisions.
Performance Indicators:
Determine price sensitivity (IM:415) (MN)
Performance Element: Utilize marketing information to drive merchandising activities.
Performance Indicators:
Analyze information from suppliers (IM:300) (SP)
Scan marketplace to identify factors that could influence merchandising decisions (IM:396) (SP)
Analyze competitors’ offerings (IM:298) (SP)
Reconcile marketing plans with assortment and financial plans (IM:395) (MN)
Assess trading area (IM:127) (MN)
Standard: Understands the concepts and strategies utilized to determine and target marketing strategies to a select audience
Performance Element: Employ marketing information to determine and meet customer needs.
Performance Indicators:
Profile target customer (MP:027) (MN)
Determine market needs (MP:025) (MN)
Determine customer demand for merchandise (MP:033) (MN)
Standard: Understands concepts and strategies utilized in determining and adjusting prices to maximize return and meet customers’ perceptions of value
Performance Element: Employ pricing strategies to determine optimal pricing.
Performance Indicators:
Select approach for setting a base price (cost, demand, competition) (PI:018) (MN)
Determine cost of product (breakeven, ROI, markup) (PI:019) (MN)
Calculate break-even point (PI:006, LAP-PI-006) (MN)
Describe pricing strategies (PI:045) (MN)
Select pricing strategies (PI:046) (MN)
Set prices (PI:007) (MN)
Adjust prices to maximize profitability (PI:008) (MN)
Develop seasonal pricing strategies (PI:064) (MN)
Performance Element: Assess pricing strategies to identify needed changes and to improve profitability.
Performance Indicators:
Ensure price fairness (PI:066) (MN)
Assess changes in price structure (PI:062) (MN)
Analyze variances to planned pricing (PI:061) (MN)
Evaluate pricing decisions (PI:057) (MN)
Standard: Understands the concepts and strategies needed to communicate information about products, services, images, and/or ideas to achieve a desired outcome
Performance Element: Advertise to communicate promotional messages to targeted audiences.
Performance Indicators:
Proof ads (PR:346) (SP)
Analyze ad performance (PR:258) (MN)
Performance Element: Utilize special events to increase sales.
Performance Indicators:
Plan special events (PR:360) (SP)
Prepare store/department for special event (PR:068) (SP)
Performance Element: Employ visual merchandising techniques to increase interest in product offerings.
Performance Indicators:
Explain the use of visual merchandising in retailing (PR:023) (CS)
Distinguish between visual merchandising and display (PR:302) (CS)
Place merchandise for impact (PR:342) (SP)
Determine on-floor assortments (PR:284) (SP)
Use cross-merchandising techniques (PR:358) (SP)
Read/Implement planograms (PR:349) (SP)
Create planograms (PR:270) (MN)
Performance Element: Implement display techniques to attract customers and increase sales potential.
Performance Indicators:
Explain types of display arrangements (PR:026) (CS)
Maintain displays (PR:052) (CS)
Dismantle/Store displays/display fixtures/forms (PR:054) (CS)
Create promotional signs (PR:109) (SP)
Select and use display fixtures/forms (PR:031) (SP)
Use lighting to highlight products (PR:359) (SP)
Set up point-of-sale displays and handouts (PR:114) (SP)
Create displays (PR:047) (SP)
Performance Element: Manage promotional activities to maximize return on promotional efforts.
Performance Indicators:
Develop promotional calendar (PR:209) (SP)
Plan/Schedule displays/themes with management (PR:077) (SP)
Execute seasonal vendor co-op participation plans (PR:311) (MN)
Develop visual presentation guidelines (PR:293) (MN)
Plan promotional strategy (promotional objectives, budget, promotional mix, etc.) (PR:343) (MN)
Measure success of promotional efforts (PR:339) (MN)
Standard: Understands the concepts and actions needed to determine client needs and wants and respond through planned, personalized communication that influences purchase decisions and enhances future business opportunities
Performance Element: Acquire product knowledge to communicate product benefits and to ensure appropriateness of product for the customer.
Performance Indicators:
Explain the use of brand names in selling (SE:019) (CS)
Performance Element: Employ sales processes and techniques to enhance customer relationships and to increase the likelihood of making sales.
Performance Indicators:
Establish relationship with customer/client (SE:110) (CS)
Determine customer/client needs (SE:111) (CS)
Recommend specific products (SE:114, LAP-SE-114) (CS)
Demonstrate good/service (SE:374, LAP-SE-374) (SP)
Convert customer/client objections into selling points (SE:874, LAP-SE-874) (SP)
Close the sale (SE:895, LAP-SE-895) (SP)
Demonstrate suggestion selling (SE:875, LAP-SE-875) (SP)
Plan follow-up strategies for use in retail selling (SE:489) (SP)
Performance Element: Implement support activities to facilitate the selling process.
Performance Indicators:
Arrange delivery of purchases (SE:023) (CS)
Pack and wrap purchases (SE:887) (CS)
Process special orders for retail sales (SE:009) (CS)
Sell gift certificates (SE:016) (CS)
Process retail phone orders (SE:835) (CS)
Process returns/exchanges (SE:162) (CS)
Process retail sales documentation (SE:117) (SP)
Performance Element: Collect payment from customer to complete customer transaction.
Performance Indicators:
Calculate miscellaneous charges for retail sales (SE:116) (CS)
Process sales transactions (e.g., cash, credit, check) (SE:329) (CS)
Accept checks from customers (SE:152) (CS)
Operate register/terminal (SE:153) (CS)
Performance Element: Guide sales staff to improve their success rate and to minimize staff turnover.
Performance Indicators:
Provide information about incoming merchandise to sales staff (SE:396) (SP)
Monitor on-floor selling activities (SE:389) (SP)
Performance Element: Control sales activities to meet sales goals/objectives.
Performance Indicators:
Analyze sales performance (SE:362) (MN)