Exposure to the Retail Business
Students of the Retail and Merchandising class perform real retailing exercise for Valentine’s Day.
In order to get exposure to the retailing business, the students of the Retailing and Merchandising class (MKT310) in LAU Byblos were asked to perform a real retailing exercise for Valentine’s Day. The assignment was done in three groups, each receiving $100 to buy merchandise related to the Valentine’s Day theme, and to sell them to LAU students. The budget was to cover the cost of the bought goods, and other costs like packaging, decoration and advertising.
On Monday, February 12, the groups had their stands at the fountain area on the LAU Byblos campus, and had the whole day to sell their merchandise. The students used their creativity to buy and sell gifts, accessories, chocolates, and lucky draw vouchers. They practiced advertising, designing the stands, buying, packaging, pricing and selling.
They enjoyed the exercise and, all in all, they were able to generate $330 in net income. The is going to be donated to LAU’s Development Office to be used for the financial aid of the business school students.