Management, Books and Learning

Retail Management Meaning and its Need What is management ? Management refers to the process of bringing people together on a common platform and make them work as a single unit to achieve the goals and objectives of an organization. Management is required in all aspects of life and forms an integral part of all businesses. Retail management The various processes which help the customers to procure the desired merchandise from the retail stores for their end use refer to retail management . Retail management includes all the steps required to bring the customers into the store and fulfill their buying needs. Retail management makes shopping a pleasurable experience and ensures the customers leave the store with a smile. In simpler words, retail management helps customers shop without any difficulty. Need for Retail Management - Why retail management ? Peter wanted to gift his wife a nice watch on her birthday. He went to the nearby store to check out few o...

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 ...