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¶ … Retailing Will never Be the Same Again
This article first appeared in Forbes in 2009 and discusses the affect of the Internet and the recession on the $4 trillion dollar U.S. retailing business. The article notes that just as the Web has ravaged the newspaper business, the retailing business is also being reshaped by the Web and the economic downturn. This article is very germane to the current economic climate in the retail industry.
The authors note assert that the recent bankruptcies of Circuit City, Linens 'n Things, Mervyns, and others are only an indication of things to come. This "economic and technological tsunami" has worked to force retailers into two groups, discounters who sell national product brands on the basis of price or stores that don't need to discount because they offer uniquely compelling products and shopping experiences. As this phenomenon is trans forming the retail business and as it does a third group, major supplier who do not like either...
Because of this retailers that cannot compete on price or convenience have to find another way to attract customers, usually with distinctive offerings and engaging customer experiences. Many retailers such as Abercrombie, Aeropostale, PetSmart and Best Buy have begun designing some or all of the products they sell, becoming vertical retailers with integrated design and development. This gives them greater capabilities in market research, product development, product testing, and sourcing than most retailers. However, most of these retailers have do not to own the factories that produce their unique products, acting vertical rather than being vertical. Another strategy retailers employ to attract business is to expand their definition of what a product is.…
Bibliography
Karonis, John, & Madison Riley, "Why Retailing Will Never Be the Same Again." Forbes.com (May 13, 2009). Accessed January 20, 2013. http://www.forbes.com/2009/05/13/retail-industry-change-leadership-managing-revolution.html#
Retail Business Analysis: Wal-Mart Marketing Tactics Why does a business need a marketing strategy? The basic answer is simple: to generate sales. However, the manner in which a business goes about developing its marketing strategy can differ significantly from one business to another. In order to understand what type of marketing strategy works best for a certain company, one must first understand the basics of each specific strategy along with viewing
The basic explanation for this is that they rely on always offering the lowest prices, which makes them cut back on other costs. However, the future might bring about more pretentious and harder to satisfy customers and strategies will then have to be developed. 3. Internet Retailing The best selling strategy is that of combining multiple channels. This is similar to the financial sector, where the investor is advised to diversify
Retail Marketing Operation Management Zara is a company that has used exciting marketing strategies to enable the company to grow into the mega-merchant that it is today. From humble beginnings Zara has become a world and industry leader. This report concerns how Zara began and who shops there, along with a section about major competitors. Important business elements such as value proposition and its delivery, how Zara accommodates "green" ideas, supply
Organizational Behavior Job Description An effective job description performs many functions -- attracting the right people, holding existing employees accountable to defined standards, and helping management structure the organization more effectively (Florentine, 2015). The job description for the sales associate needs to be aligned with the overall corporate objectives in order to be at its most effective. The overall objectives appear to be the simultaneous goals of increasing sales and increasing service.
Merchandising and inventory management are key success factors for firms in the retail industry. The two ideas are tied together. Merchandising reflects in the product mix a store offers, but also in the ways in which that product mix is presented. Inventory management in part reflects the merchandising needs of an organization, but it also reflects on the optimal profitability that a company can have. Merchandising tactics allow the store to
data collection mentioned earlier. This report shall focus on the data collection in particular. Within this report, there shall be a recitation of the data collection approach, a definition of the proper data collection channels, a description and depiction of the purchase of external data sets to assist in the problem, the development and description of data quality and other data governance issues and a planning of the ongoing