Management, Books and Learning

Retail Pricing - Different Types of Pricing Models The sale of goods from fixed points (malls, department stores, supermarkets and so on) to the consumer in small quantities for his own consumption is called as retail. According to the concept of retailing, a retailer doesn’t sell products in bulk; instead sells the merchandise in small units to the end-users. Retail Pricing Cost Plus Pricing Mechanism Every organization runs to earn profits and so is the retail industry. Cost plus pricing works on the following principle: Cost Price of the product + Profit (Decided by the retailer) = Final price of the merchandise. According to cost plus pricing strategy the retailer adds some extra amount to the actual cost price of the product to earn his share of profits. The final price of the merchandise includes the profit as decided by the retailer. Cost Plus Pricing Cost plus pricing strategy takes into account the profit of the retailer. Cost plus pricing is an ...

Retail Mechanism - How does retail work ? Retailing is defined as the process of selling merchandise to the consumers for their end use in small quantities. The retailer sells products to the end-users either in single units or in small quantities as per their need and capability. Retailer .................................. Consumer (End -User) Retailing How does retail work ? Let us now understand the various ways a consumer can purchase goods from the retailer. Largely Retail purchase can be divided in two parts : 1. Counter service/ Sales (Serving customer at our location) OR 2. Delivery Service (Serving customers where they are) Counter service As the name suggests, counter service refers to the process of procuring the merchandise from the counter. The buyer does not have an easy access to the merchandise of the store and he can’t pick up things on his own. In such a mechanism the buyer has to walk up to the counter and ask for his requirements. Exampl...

Types of Retail Outlets (offline) Objective: For existing retailer: To know in which retail format you are in and adept strategies accordingly For aspired retail venture (New retail business seeker) : To be clear with retail store formats so that he/she will be clear for starting kind of venture they will love to operate  Retailing refers to a process where the retailer sells the goods directly to the end-user for his own consumption in small quantities. Types of Retail outlets Department Stores A department store is a set-up which offers wide range of products to the end-users under one roof. In a department store, the consumers can get almost all the products they aspire to shop at one place only. Department stores provide a wide range of options to the consumers and thus fulfill all their shopping needs. Merchandise: Electronic Appliances Apparels Jewellery Toiletries Cosmetics Footwear Sportswear Toys Books CDs, DVDs Examples ...

New era Marketing by being Purple cow The Purple cow Here are 3 lessons from the book: We live in the third era of advertising, where marketing is mainly done through word-of-mouth. Not taking risks is riskier than taking risks. If you want your product to succeed, focus on early adopters as your first customers. Lesson 1: Today marketing is mainly done through word-of-mouth recommendations. Seth walks us through the history of advertising and says there were three distinct periods. Before advertising  was way back in ancient times, when people could only spread the word about great deals with their mouths. For example in ancient Rome, when one of the vendors on the market sold particularly good fish, everyone who bought one would of course tell all their friends and family. Likely, the next time they’d go to the market, they’d visit that same vendor. During advertising  was the time during the 18- ...

Start saving by using these  8 Inventory Management Techniques Why Inventory Management Is Important Holding inventory ties up a lot of cash. That's why good inventory management is crucial for growing a company. Just like cash flow, it can make or break your business.  Inventory Management Saves You Money Good inventory management saves you money in a few critical ways: Avoid Spoilage If you’re selling a product that has an expiry date (like food or makeup), there’s a very real chance it will go bad if you don’t sell it in time. Solid inventory management helps you avoid unnecessary spoilage. Avoid Dead Stock Dead stock is stock that can no longer be sold, but not necessarily because it expired. It could have gone out of season, out of style, or otherwise become irrelevant. By managing your inventory better, you can avoid dead stock. Save on Storage Costs Warehousing is often a variable cost, meaning it fluctuates based on...

S W A M I V I V E K A N A N D A's  Winning Formulas to become Successful Managers  -  A.R.K Sharma About the Author: Mr. A.R.K Sharma , a gold medalist in science. He is a UPSC recruited class 1 officer. At present he is the vice president of Tata Docomo Services. He has been always influenced by Swami Vivekanadha and his writings. He has authored up to 14 books which are best sellers Swami Vivekanadha: Born as  Narendra Dutta , he was a disciple of Ramakrishna. He died at the early age of 39. He is well-known for his speech at the Parliament of World Religions in Chicago, 1893 which he began with the most famous words as "Sisters and Brothers of America" Why this Book? To Analyse and increase our commitment for our success. Characteristic of people : 1) People with Low commitment and Low competency -  like COLORLESS and ODORLESS FLOWERS a) Always require monitoring, guidance, cause of correction...