Management, Books and Learning

The art of increasing the sale of products by effectively and sensibly displaying them at the retail outlet is called as visual merchandising . Visual merchandising refers to the aesthetic display of the merchandise to attract the potential buyers, prompt them to buy and eventually increase the sales of the store. In simpler words, visual merchandising is the art of displaying the merchandise to influence the consumer’s buying behaviour. The store must offer a positive ambience to the customers for them to enjoy their shopping. The location of the products in the store has an important role in motivating the consumers to buy them. Sensible display of the merchandise goes a long way in influencing the buying decision of the individual. The end-user will never notice something which is not well organized: instead stacked or thrown in heaps. Proper Space, lighting, placing of dummies, colour of the walls, type of furniture,music, fragrance of the store all help in increasin...

The mechanism of selling products in small quantities from fixed locations to the customers for their end use is called as retailing. In the current scenario where the end-user has several options to rely on, it is essential that the retailer promotes his brand well amongst the masses. Let us go through some  tips to promote a retail brand  well: Signage Signboards go a long way in creating brand awareness and promoting a particular brand. The signage must display the name as well as logo of the retail store. It must be installed at the right place visible to all even from a distance. It should not be very small. Small signages fail to attract the customers. Choose the right paint colour. Don’t add unnecessary information. Keep it simple but informative. Make sure the signage attracts the customers into the store. Choose the right theme. Advertising Advertising is a strong medium which influences the buying decision of the customer and prompts hi...

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 ...

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...

4 Lessons in Staffing From the Apple Store Apple is running a seriously smooth operation in their retail stores. Each employee has a distinct role to play, understands that role, and does his/her part to deliver the level of service we’ve come to expect from this powerful brand. All of this requires serious alignment of brand, business goals and people process. Finding the right people to work in the stores is half the battle. There are things that Apple’s retail arm does particularly well in organizational development–things any organization could learn from: 1.                      Make Work Meaningful. When your employees know that what they’re doing matters, it’s easier to inspire them to do their best. And no one appreciates this more than the employees staffing the stores, who are on the front lines of the customer relationship. Apple would be hard-pressed to deli...

  Book: 22 Immutable Laws of Marketing Sharing top 10 Laws from 22 Implement it and be winner of your field Objectives •        To share 40 years of marketing expertise OF Jack trout and Alries through 22 immutable laws of Marketing that govern the world of marketing. •        Strengthen our knowledge about these Rules. •        Help our customers for taking advantage of it.   How we can use it.   Can be used as a 'diagnostic check ' of a company's marketing plan for a given product or service To ensure that all possible perspectives and issues have been considered. The second use is a reminder of the importance of the perception of your service or product in the mind of your customer. What is Marketing? •        Marketing is the process of creating or directing an o...