There’s more to retailing than punching keys in a cash register at your local mall. Retailing represents a significant portion of the U.S. and world economies – in the United States alone, retailers employ over 23 million people and exceed $3.5 trillion in annual sales. Over the past thirty years, few industries have undergone the level of change that retailing has. By anticipating and reacting to changes in consumer shopping behavior, competitive economics and technological innovation, ‘upstart’ retailers such as Wal-Mart and Best Buy sit at the top of their industries, while former ‘icons’ of retail’s past are relegated to history books and nostalgia items on eBay.

The secondary concentration in retailing provides students with a strong foundation for successful careers in retail through an inter-disciplinary overview of the industry:

• Two Required Retailing Courses (0.5 cus each), which combine the customer-facing activities of retailers, including assortment planning, private-label development and the management of in-store operations, with the back-door activities of forecasting and supply chain management that support customer interaction; and
• Three cu’s from the Marketing, Operations and Design Components, which provide deep coverage of topics integral for successful retailing.

Upon completion of the concentration, you will:

• appreciate the complexities of operating a retail business;
• understand the challenges retailers face in striking a balance between generating profits and pleasing customers; and
• explain what factors are involved with offering the right product, in the right quantities, in the right place, at the right time, at the right price, with the right service.

The concentration is relevant for students interested in working for retailers or retail-affiliated businesses (e.g., wholesalers or manufacturers), retail-related functions (e.g., advertising or third-party logistics providers), and/or aspiring consultants/analysts who plan to cover retail businesses.

Requirements:

Four course units (cu’s) are required for the secondary concentration, based on the following framework:

• Retailing Core Component (1.0 cu): Introductory courses in retailing and retail supply chain management;
• Marketing Component (1.0 cu): Selected from retail-relevant courses in marketing;
• Operations Component (1.0 cu): Selected from retail-relevant courses in Management, OPIM, real estate and transportation;
• Design Component (1.0 cu): Selected from retail-relevant courses in architecture, communications, OPIM, urban studies and visual studies.

A secondary concentration in Retailing is intended to complement course work completed in a primary concentration and provide deep exposure to retail-relevant issues. Retailing cannot be a student’s only concentration at Wharton; students must have declared a primary concentration. Also, one course unit may simultaneously count toward the Business Breadth requirement and the Retailing secondary concentration. However, no other double counting is allowed with any other concentration or degree requirement. A total of four course units are required for the secondary concentration

Required Retailing Courses (1cu):

• MKTG 225 – Principles of Retailing (0.5cu)
• OPIM 397 – Retail Supply Chain Management (0.5cu)

Marketing Component (1cu) selected from:

• MKTG 211 – Consumer Behavior (1cu)
• MKTG 212 – Marketing Research (1cu)
• MKTG 223 – Channel Management (0.5cu)
• MKTG 224 – Advertising Management (0.5cu)
• MKTG 235 – Advertising Theory and Practice (1cu)
• MKTG 278x – Strategic Brand Management
• MKTG 281 – Entrepreneurial Marketing (0.5cu)
• MKTG 288x – Pricing (1cu)

Operations Component (1cu) selected from:

• Management 104 – Industrial Relations and Human Resource Management (1cu)
• OPIM 220 – Introduction to Operations Management (1cu)
• OPIM 291 – Negotiations (1cu)
• OPIM 314 – Enabling Technologies (1cu)
• Real Estate 209 – Real Estate Investment (1cu)
• Real Estate 321 – Real Estate Development (1cu)
• Transportation 204 (cross-listed, SEAS 250) – Logistics, Manufacturing & Transportation (1cu)

Design Component (1cu) selected from:

• Architecture 462 – Design & Development (1cu)
• Communications 262 – Visual Communication (1cu)
• OPIM 415 (cross-listed with MEAM 414 and 515) – Product Design (1cu)
• Urban Studies 205 – Power of Place: People and Environmental Design (1cu)
• Visual Studies 101 – Eye, Mind, Image (1cu)

Some considerations for students who are exploring concentrations:

MKTG 225 – Principles of Retailing is a good course for students who wish to explore retailing as a potential concentration. This introductory course covers various aspects of the retail industry, including merchandising, marketing, store operations, supply chain and corporate strategy.

The concentration is balanced between qualitative and quantitative courses. There is ample choice in the concentration’s marketing and operations components for students to select quantitative or qualitative courses, while the design component challenges students to understand and appreciate the aesthetic elements that are integral for successful retailing.

Concentration Advisor

Mr. William Cody - 700 JMHH (215-898-1271)

http://undergrad.wharton.upenn.edu/concentrations/retailing.cfm