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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 optimize its retail space for revenue and profit generation. Effective merchandising will allow the store to have the products that are in demand at the time that they are in demand. Furthermore, the choice of how certain goods are displayed, where in the store, at what level, and beside what other products, all influences consumer buying decisions. Part of merchandising is simply understanding demand and ensuring that the supply is there to meet that demand -- a basic example…… [Read More]
Fashion Group International ebsite for Students of Fashion Merchandising
ith a major in fashion merchandising, it is important to keep up with the latest trends in the industry. The website for The Fashion Group International (FGI) provides a great deal of free content and offers additional features for members. FGI was founded in 1930. According to its website, FGI is a "global, non-profit, professional organization with 5000 members in the fashion industry including apparel, accessories, beauty and home. [Its] mission is to be the pre-eminent authority on the business of fashion and design and to help its members become more effective in their careers. To do this, FGI provides insights on major trends in person, online and in print; access to business professionals and a gateway to the influence fashion plays in the marketplace."
The site is very easy to navigate. The default location is "New York," but…… [Read More]
Retail Environment and the Merchandising Techniques
Foot Locker, Inc. is one of the leading companies in the global retail environment for sports apparel and accessories. The company has remained profitable across nearly all its operations and expanded into different countries worldwide. Actually, through its global expansion initiatives, Foot Locker currently owns and/or manages several subsidiaries in different countries such as Australia and New Zealand. One of the key factors that have contributed to the success and profitability of Foot Locker throughout the years is the establishment of a suitable retail environment and the merchandising techniques. This environment and techniques have been utilized to encourage consumer buying, which has in turn contributed to increased profitability and growth.
Displays, Aisles, and Merchandise
One of the crucial aspects of Foot Locker's retail environment and merchandising techniques is the arrangement of displays, aisles, and merchandise. The store has clean display cases, shelves, and aisles…… [Read More]
Accounting for Merchandising Business: Purchase Discounts
Purchase discounts are used in credit purchases by sellers to encourage buyers to pay before the credit period is over, as they reduce the total amount to be paid. According to Kieso, Weygandt and Warfield (2011), some companies consider purchase discounts as losses, and use the net method to account for them in financial statements to correctly report an asset and the liability that arises. Management can also use the net method to assess efficiency as discount offers that are not taken represent additional costs to the business. Small businesses benefit more from these discounts as they deal with numerous payables and receivables and when discounts are given to customers, journal entries are used to indicate the amounts debited and credited to each account. A discount is often expressed as x/10, n/30 means that the customer is offered x discount if they…… [Read More]
Apparel Mechanizing Book Review: hy e Buy: The Science of Shopping
Go shopping and see the malls through the gaze of Paco Underhill. You may feel so manipulated you never anything again -- what a saving! The author's name may sound like that of an exclusive men's clothing retailer but actually, he is a professional merchandising consultant who advises sellers how to draw consumers into their stores and more importantly, make them buy what is within. Firstly, the book makes an important distinction between marketing, which is increasing the number of people who come to the door with interest, in contrast to merchandising, which is everything you do after the consumer enters the store/
Being 'let in' on the tricky little secrets of merchants resonates with readers, who gaze upon New Jersey teenage girls shopping at California-style surfing shops to buy fashionable board shorts that the young ladies will never…… [Read More]
Since the supply is being specifically restricted, only a price increase could occur. Thus, creating exclusivity creates value to the seller.
The third reason why exclusivity is valuable is that it creates differentiation (Finkelstein, 2009). Differentiation is a key driver of value for many products and services. Exclusivity does not equate to differentiation, but it does increase the perception of differentiation, simply by virtue of the fact that the product is not mass market. The perception of differentiation is sufficient to drive value, regardless of whether or not there is actual differentiation. Thus, exclusivity drives value by being a means to achieve the perception of differentiation.
4. Senk argues that shopping in largely entertainment, a point to which I agree. Entertainment is simply something that amuses, diverts attention or pleases. In that respect, shopping is very much entertainment. As with any form of entertainment, shopping meets other purposes as well;…… [Read More]
To do otherwise would create problems with the company's accounting.
Cosigned goods are also included in the merchandise inventory (Elliot & Elliot, 2004). Even though they are out on consignment, they are still a part of the goods that belong to the company (Elliot & Elliot, 2004). If these goods have not been included in the company's inventory, it becomes difficult to account for their sales and can cause serious problems with accounting. Not including cosigned goods would make it appear as though those goods have already been sold, but there would be no income for them. When they did sell, the income would appear to come from goods that were not shown in inventory. That can take time and effort to sort out, and can leave the company looking as though it was trying to hide something when, in fact, it simply listed its goods incorrectly. By making sure…… [Read More]
California Labor Laws
The state of California possesses some of the strictest labor laws and enforcement tactics in the United States - a factor that largely affects the business climate of the state. County health departments, such as the California Department of Industrial Relations - Occupational Safety & Health Administration (CAL-OSHA), enforce and protect California labor laws, acting against all businesses who violate the laws (West Group, 1999).
This essay will discuss some of California's most important and current labor laws, outlining how each law affects California's business climate. It will also determine whether these labor laws are beneficial or detrimental to the apparel industry.
California's Labor Laws
The following section outlines some of California's labor laws, which are considered some of the most stringent in the nation.
California's overtime laws hold that any employee who works more than eight hours per day must be paid at 1.5 times his…… [Read More]
Introduction and Company History
Debenhams is a UK-based department store chain with operations in a number of countries around the world. The company operates 153 stores across the UK and Ireland, and has online delivery to 66 countries around the world through Debenhams Direct, including many where Debenhams does not have its own store (Debenhams.com, 2012). The company traces its roots to 1778 in London, where the company remains headquartered to this day. The expansion of Debenhams to become an international brand in retailing has been done primarily through franchising, while the store in the UK and Ireland tend to be company-owned. According to the company's annual report, Debenhams earned £2.2 billion in revenue and £117.2 million in profit.
The growth of the Debenhams name only took place in the latter part of the 20th century. Prior to that point, the Debenhams name was not used on most of…… [Read More]
Business Plan Proposal:
The Ducks Poker Room
Business Plan Proposal: The Ducks Poker Room
Executive Summary/Company Description
The Ducks Poker Room will be a new for-profit gaming club primarily hosting players of versions of the card game known as "Poker." The Ducks Poker Room will also offer alternate games, including but not limited to promotions for prize pools involving tickets to college basketball and football games. Finally, The Ducks Poker Room will host patrons who are not playing poker.
Business Plan Objectives
Provide exceptional facilities, equipment, service, staff and merchandise that create a highly positive impression on our core customers;
Consistent entertainment atmosphere and product quality;
Capitalize on excellent location opportunity;
d. Launch the venue with a highly publicized grand opening event in the spring of Year 1;
e. Maintain tight control of costs, operations, and cash flow through diligent management and automated computer control;
f. Maintain food costs below…… [Read More]
Create a job description for a retail sales associate. Create an organizational behavior modification (OBM) plan to define a set of three (3) key behaviors that are necessary for job performance.
Job Description for etail Sales Associate
• Greet customers and determine their needs and wants
• Discuss potential merchandise purchase of customers
• ecommend merchandise based on discussion with customer
• Advise customers on utilization and care of merchandise
• Upsell related products or services
• Answer customer questions
• Explained return policies and discounts
• Keep merchandise displays in order
Organizational Behavior Modification Plan (OBM)
Key Performance Behaviors
Greet customers within 5 minutes of entry into sales area (allow time for browsing before contact).
a. Sales associate make mental note of customer response and encourages survey feedback for all completed sales with customers given assistance. Measurement: An on-your-honor system with sales associate fine-tuning approach to customer…… [Read More]
JC Penney is a major department store, doing billions of dollars in revenue per year. The industry, however, is mature and some would say stale. Younger consumers in particular are not attracted to the department store shopping experience, instead choosing anything but. JC Penney tapped former Apple executive on Johnson as its new CEO, and made big changes to its merchandising and especially to its pricing. One pricing strategy that Johnson instituted was to eliminate the traditional JC Penney sales and opt for lower prices across the board (D'Innocenzo, 2012). Analysts from his alma mater Harvard Business School lauded him as a genius for the simplified pricing program (Girard, 2012). Yet, Johnson couldn't wrap his head around the fact that the key purchase drivers in department store sales are nothing like the purchase drivers in consumer electronics, and the pricing strategy did not go nearly as well as planned.…… [Read More]
Describe 2 internal control procedures and explain how the company could use these internal control procedures to protect itself from the risks you have identified in part (a) above.
Demanding that all merchandise be accounted for, even so-called unsellable garments, is essential. If there is a discrepancy between the garments sold to the stores and the inventory sold to Sylvia, she must explain why and produce evidence (in the form of a record of all unsellable merchandise), and the manufacturer should be contacted for verification that a complaint was issued regarding the garments. Secondly, Sylvia must keep receipts for all of her expenses and submit them, but there should also be independent audits -- for example, the company could call up the restaurants and establishments she frequents, to verify that she indeed had reservations and ate there. or, the company could specify what types of transport and what places she…… [Read More]
The target store included various types of merchandise, such as electronics, music and video (DVDs and CDs), beauty products, clothing and shoes and automotive parts.
Additionally, the target stores also included a food department, mainly with non-perishable items. There are two main factors differentiating the target store from the Wal-Mart store previously analyzed, in terms of products. First of all, the Wal-Mart store did not have a food department, residing only on non-food items. On the other hand, the quality and especially the image of the products offered in the target store may be considered superior to that of Wal-Mart's. One of the relevant examples in this sense is the fact that the target store is relying consistently on brand strategy, signing important designers like Liz Lange, for example. With a solid discount component aimed at lower income categories, the store had the capacity to attract consumers from…… [Read More]
Scenario: Dana and Ronnie operate a Web-based business, TraderRon.com, an Internet swap site that uses a Dutch auction system pioneered by Priceline.com. TraderRon.com allows customers to make offers to other customers to swap such items as their unused frequent flyer miles for other customers' unwanted merchandise, including DVDs, music CDs, used books, and any other merchandise customers might want to trade. No sales involving payment of money are made on the site. Some of the merchandise that has been offered on the site and swapped consists of bootleg or pirated merchandise, as well as designer knockoffs. All of TraderRon.com's income derives from advertising. TraderRon's website and advertising use a black and grey symbol to represent its swapping service. It has used this symbol consistently and registered it with the U.S. Patent and Trademark Office. The symbol is very similar to the Nike swoosh symbol, except it fades from…… [Read More]
Internet Marketing Strategy of Argos
The purpose of this essay is to examine the Internet marketing strategy of Argos. Argos is a home retail group and market leader in retail sales of home and general merchandise. Argos reports that it is a "unique multi-channel retailer recognized for choice, value, and convenience." (Argos Website, 2011)
Argos and the Online Market: Size and Growth
Argos customer base is approximately 130 million and reports state that 26% of Argos sales are via the internet channel with approximately 4 million customers placing orders by phone or online. The Argos website is touted as the website visited the most among high street retail websites in the United Kingdom in 2008. (Argos, Website, paraphrased) Argos is environmental conscious and caters to customers with disabilities. Argos was named the 'Online Toy Retailer of the Year 2009' by the ritish Toys & Hobbies Association (THA). (Argos Website, 2011)…… [Read More]
We went into a Victoria's Secret store, and recorded our observations. These were then evaluate against what we learned in Underhill about the differences in the way men and women shop. We sought to evaluate the store on a few different dimensions, including store design, merchandising and the way that the store seeks to influence buyer behavior. At the conclusion of the report, we will offer some recommendations to Victoria's Secret with respect to enhancing their in-store presentation.
Before even entering the store, we noticed something unusual about Victoria's Secret. There were men, but they were outside. We stopped to observe this, and found that very few men would actually go into the store. They would arrive, always with a woman, and would either wait outside or walk away. Victoria's Secret seemed almost like a "no man's land," even though one might think that a man would…… [Read More]
.....managing and operating a recently acquired small retail business. The paper specifically focuses on strategies for targeting customers and information gathering, a plan for recruiting and training new staff and employee management, the relevance of the concept of one hundred percent location and saturation to the business, as well as important financial dimensions for the business. Also, the paper provides a name, mission, and philosophy for the business, a description of hours of operation, and a plan for cultivating an inviting store atmosphere.
Strategies for Targeting Customers and Information Gathering
The importance of targeting customers and gathering information about the target market cannot be overemphasised. It is crucial for understanding customer behaviour, how to best serve the target market, whether a market exists for offering(s) in question, as well as how to effectively communicate with the target audience (Mathur, 2010). In the retail industry, targeting customers may be a little…… [Read More]
Urban Outfitters Case Study
Urban Outfitters has defined a highly differentiated and unique shopping experience, supported by the eclectic and highly varied store layouts and merchandise strategy. This approach to retailing appeals to the individuality and uniqueness every consumer also sees in themselves, allowing the consumers to define themselves by what they like. INA actuality, Urban Outfitters is more aligned to key marketing concepts and strategies than its much larger and less differentiated competitors including Sears and Wal-Mart. Appearing non-conformist and counter-culture within its image, Urban Outfitters is actually providing an escape for consumers to use their purchases to define who they really are and what they actually care out. etailing that appeals to the values and individuality of a consumers are highly effective in creating loyalty and continued repurchase (Puccinelli, Goodstein, Grewal, Price, aghubir, Stewart, 2009). The intent of this analysis is to explain why Urban Outfitters continues to…… [Read More]
The store uses empty space wisely by filling it with store specials, and when designs are in progress the area has a sign that tells the consumer what is coming soon. Music is non-discernable (I don't remember if there is any at all) but there is so much for the eye it is not needed. The whole store smells like baking cinnamon buns, a store specialty (offered in the Cafe and in the Bistro as you leave). This makes the place really smell like home! Every inch of the store (excluding the warehouse for utility sake) it taken up by a display of some sort and everything is pleasing to look at and dissect. Special displays, such as the "living in 480 sq ft" full home layout are fantastic and feel very complete, as if you could simply kick off your shoes and watch television or lay down and take…… [Read More]
In the first one to three years, Make a Change plans to step up its budget or marketing and advertising expenses as a way to drive up business and profits. After the first year, we also plan to bring in other charities on board to share in some of the donations we will be producing through our gross profits.
The main cornerstone of the business will rely upon t-shirt sales. On our site, we will offer a variety of different colors and styles, which vary in price to the customer. These shirts range in cost to us depending on the style chosen. Like all other products, 10% of our gross profits from t-shirt sales will go to our chosen charity. All tees are 100% cotton, with several sizes, fits, and colors available to the consumer.
Make a Change Brand. Blank cotton tees total to $1.75 a piece,…… [Read More]
Another recommendation that could be made in order to improve the efficacy of the store's functioning regards its very location. On Carneby street basically everybody is a competitor. The store could move to Regent street where there is a larger flux of people passing every day. This would increase the possibility of sales and bring another client segment, the one represented by tourists.
A third recommendation that LA Sugar might take into consideration regards its pricing policy. The store is famous enough to attract clients and its policy regarding the renewal of the collections and the constantly changing interior and windows contributes to making clients loyal. However, this is not enough, considering that an important part of the targeted clients are represented by students. Taking these factors into consideration, LA Sugar might increase its sales periodically through offers such as "buy an item and get a 25% discount for the…… [Read More]
JC Penney's New Pricing Strategy
J.C. Penney was founded in 1902 by James Cash Penney, and by 1907 he had purchased full interest in three locations, moving his company headquarters from Wyoming to Salt Lake City in 1909. By 1912, there were 34 stores in the ocky Mountain State areas. By 1928 Penny's had opened 1000 stores and by 1941 had 1600 stores in all 48 states. Penny's began national advertising in 1956, offered in-store credit cards in 1959, and acquired The Treasury discount stores in 1962. By 1963 it issued its first catalog, expanded to Alaska and Hawaii, acquired Thrift Drug and by 1969 was a major feature in most American cities. By James Penney's death in 1971, the company had revenues of over $5 billion and peaked with 2,053 stores in 1973 jcpenney.com; Mattioli, 2012).
etailing in the 21st century demands far different strategies than ever before. etailing…… [Read More]
As per the arrangement, this will see Dulux offer the product for sale under its own brand name. In exchange for the access it will have to PFP technology, Dulux will be expected to pay an annual royalty fee. The said fee is expected to be 15% of the profits Dulux rakes in from the sale of PFP paint. Thus with regard to merchandising, PFP Ltd. plans to have a main partnership with Dulux. On the production front, the company will enter into a one year trial period partnership with Dulux for the production of Power Paint. Mass production of the same will largely be dependent on the results of this trial.
Benefits of Partnership
One of the key benefits of PFP's partnership with Dulux is the specialization each partner brings to the arrangement. Currently, Dulux has an elaborate distribution system and sound customer base to guarantee maximum exposure to…… [Read More]
I decided to visit the local Trader Joe's. The store that I visited actually has an almost identical layout to other Trader Joe's stores that I have visited in the past, with some minor differences in the details.
Design and Physical Surroundings
The main entry aisle sits to the right hand side of the store, aligned with the store's entryway, which is also on that side of the store. The entire store is lit with fluorescent bulbs, typical supermarket lighting, to a very bright level. Immediately, the size of the store seems inadequate for the number of people who are in the store at this point in time, and I tried to come at an off-hour. The first aisle is the only one that is genuinely visible at this point. The store layout features aisles that are slightly off-centered, which is quite unusual for a grocery store. Normally,…… [Read More]
Retail Strategy Analysis
In the retail environment, the importance of an effective strategy cannot be overemphasized. Given the inherently competitive nature of the retail space, a retailer must ensure a clearly defined target market, a robust operational strategy, a strong positioning strategy, sustainable competitive advantages, and proper retail mix (Bhatia 121-143). This paper provides a strategy analysis of Woodrings Floral Gardens (Woodrings), a company that retails floral gifts to customers within the State College area, Pennsylvania. Following a brief overview of the company, the analysis specifically pays attention to the company's operations, target market, positioning strategy, competitive advantages, and retail mix considerations.
With more than four decades in operation, Woodrings retails floral gifts to individuals and organizations within the State College area. The company is family owned and operated, and offers flowers for a wide array of occasions, including birthdays, anniversaries, baby showers, weddings, funerals, Valentine's Day, Mother's…… [Read More]
Exclusivity for these groups signals uniqueness. In a creative and individualistic society such as America's, uniqueness has cachet and value to the consumer, so any fashion item that can convey this uniqueness will also have value.
Exclusivity also has value because of its scarcity. This is a simple supply and demand equation. The price of a good (its value) is related to the demand for it and the supply of it. When demand is higher than supply, the price increases. Thus, by managing the scarcity of items in the stores, any popular or high quality items will be subject to supply constraints. The consumers of Urban Outfitters know this, and respond by assuming scarcity. They purchase the product quickly, knowing that they may otherwise lose out on the opportunity to do so.
The third reason why exclusivity is valuable is because of the thrill of the hunt. This psychological characteristic…… [Read More]
All legal stipulations in regard to the usage of licensed and branded merchandise would be respected.
It is initially expected that the aerobics class would sell subscriptions to 1,500 customers. This high volume of sales would be due to promotional offers which promote the aerobics class at lower retail prices. As the promotions expire however, a small decline in the number of sales is expected. The company is however confident that it will manage to sell an estimated 1,300 products following the expiry of the promotions and that it will be able to sustain this level. Additionally, organizational improvements in the product offer and new marketing campaigns would also be implemented and they would attract new customers and as such generate more sales.
Three sponsorships contracts are to be signed -- they have already been negotiated and they would be completed as the project is launched.…… [Read More]
As a small location, the price per feet steadily the same at $45.00, our costs can go down. We don't really need an extravagant space in the first year of operations.
4) Extensive travel will be required during the first year in order to setup the connections in razil and establish the suppliers, as well as the designers with whom the company will be working.
5) the Internet will be required so as to best communicate with the suppliers in razil, as well as to track progress from advertising over the Internet.
6) the advertising budget will be high only during the first year, given one of the short-term objectives we have proposed: building the company brand. This sum is likely to cover the marketing campaigns we are proposing.
8) There is a 7.5% tax on corporate income in New York City.
The loss can be explained through…… [Read More]
Men's Retail Store Layout for Space, Profit and Efficiency Maximization
Mike and Earl Moore, are the founders of a Men's store named College Men's Unlimited. Recently they signed a lease for five years at theh College Mall near downtown. Along a stretch of the mall is a neighborhood of upper class homes. There are plans to open the store within weeks near the college and also a prime community. Business for Mike and Earl has been very promising and they are ready to make a move to the mall location. The Mall Developer has requested a floor plan from the owners.
The current store is in a two story home which does not have adequate space. The mall developer has requested that the store owners bring n plans for their layout as soon as possible. Therefore it is important to come up with a marketable floor plan that…… [Read More]
This shows the emphasis that Abercrombie & Fitch placed on improving communication between all these different elements in the supply chain.
This solution was integrated with the Oracle Retail Merchandising System, a complex solution that allows merchants "merchants to monitor the delivery status of key orders and for the logistics team to proactively manage inbound shipments by milestones"
. There are several elements worth analyzing here. First of all, accurate shipment information, as implied by the delivery status of key orders, means that the company and the management is able to completely track when each batch of products is delivered and is sold throughout the supply chain.
This is very important, because of several key issues. First of all, it allows the company a proper inventory management. This means that it is able to estimate the potential demand in a certain store and determine exactly when the orders that have…… [Read More]
International Marketing -- South Korea Country Study
The primordial question at the basis of this study revolves around the attractiveness of South Korea to American investors. Otherwise put, is this country able to determine the American investor to launch business operations in this global part? In order to answer the posed question, a series of analyses will be conducted. Some of these will refer to the general context, whilst others will detail specific issues.
The country is located in the eastern part of Asia; enjoys a temperate climate and owns less than 20% arable land. South Korea is characterized by a tormented historic past, which explains well the differences emerged between the two regions of the Korean Peninsula. The total population of the country exceeds 48 million, and their life expectancy at birth is of almost 79 years. The interactions with the South Koreans are generally formal and follow protocols,…… [Read More]
2. The most important information is associated with the vendors and merchandise. The customers need to be aware at all times of the developments in the company's portfolio of activity, as well as what the characteristics of new products are in terms of price, design or materials. Another type of information that needs to be provided is related to the online mechanism for administrative issues such as online ordering and payment, delivery and logistics. The client will need to be fully aware of these issues and could be informed both through a FAQ page on the website and a page with administrative explanations, as well as through the newsletter and through the chat room, by company employees that can facilitate this.
Another important information, especially since this is a direct-to-customer business, can be the future trend in the company, letting the client in on future strategies that the company is…… [Read More]
Urban Outfitters Continuing Case Study
Explain why Sears or Wal-Mart cannot effectively create a trendy counterculture image
The reasons for stores like Urban Outfitters to be able to create such a culture are their ability to operate with low and medium volume. Hence it is possible to change the output based on changes in demand. For example, the 'Urban Outfitters' followed the policy of locating stores that have the concentration of targeted customers, and this also effectively made use of the existing structures to provide customer targeted fashion and label apparel and home furnishings. These could be promoted by the use of strategies like visual merchandising, displays, and customer related merchandise which naturally had higher prices and low volume. (Funding Universe, n. d.)
The advantage was that the company markets to a known demand at a set price. In the case of Wal-Mart or Sears, the problem is compound because…… [Read More]
There is virtually zero paper work involved in merchandising the goods to the shops.
The documents prepared when merchandize is sold are minimum and include only check for the customer which is very comfortable and time saving. The sales point prints of all the check kept electronically in the system, only in the evening at the end of the day. The company keeps perpetual track of the records in the system and only at aggregate levels. The company also with employment of the mentioned above electronic system monitors and analyzes the costs incurred to deliver the goods to their sales point. Physical inventory is carried out only once a year, which is reasonable for the company of this size and for electronic system the company utilizes. The physical inventory is done only for the purposes to single out volumes of sold or spoiled products. The company targets to be cost…… [Read More]
As we have seen, fashion is not the only field that has the idea of integrating usiness with philanthropy. Other industries have focused on other African causes such as AIDS/HIV, Water, Business, health, education.
(RED), a division of the ONE Campaign advertises itself as "fighting for AIDS for a free generation." Using an optimistic message, (RED) promotes itself as an organization that elieves that it can change the face of the AIDS epidemic in Africa y stopping transmission of HIV form mothers to aies. In 2010, 1,000 aies were orn every day with HIV. In 2011, that numer was reduced to 900. (RED) urges shoppers to uy (RED) products. The manufacturers send the contriutions to the Gloal Fund which then uses all of the money -- no proceeds going to RED -- to finance HIV / AIDS programs in Africa.
ING is another original philanthropic program that promises to send…… [Read More]
Systems for a etail Store
Nostalgic ecord Store Information Systems Proposal
Benefits and Drawbacks of Information Systems
Comparison of Cost and Benefits
Any new store will require a series of accounting, e-commerce, finance, customer relationship management (CM), pricing and services applications to ensure it stays profitable. When the products being sold are highly unique, as is the case with nostalgic music, the role of these systems becomes even more critical. It is the goal of this proposal to define five specific systems needed to operate the store profitably, in addition to listing the strengths and weaknesses of each. The five systems needed to successfully run the nostalgic record store include:
Small Business Accounting System
Low-end, preferably Software-as-a-Service (SaaS)-based CM system
E-Commerce Web Store
Transaction-oriented Point-Of-Sales System
Merchandise Inventory Management and Pricing Software System
Both the benefits and drawbacks of each of these systems are analyzed in this proposal.
Benefits and…… [Read More]
WO and argue against this concept and its application within City Super in Hong Kong. The argument in this paper is that McNair propagates that retail institutions evolve over time implying cost leadership strategy is suitable for emerging retail institutions to adopt to enter the retail industry. In addition, Walmart is a good example for demonstrating cost leadership strategy because of its success. However, I found service quality to be a critical element in enhancing the perception of overall merchandise quality in supermarkets especially when studying the case of City Super in Hong Kong.
The Wheel of etailing had been initially created by Professor Malcolm P McNair within 1958. McNair claimed that whenever new retailers get into a customer marketplace, they function below the idea of becoming lowly priced, reduced margin businesses. They do that since it will be the most economical method to obtain because numerous clients as you…… [Read More]
Tommy Hilfiger has struggled to compete with the upscale brands of France and Italy. The European customers are quality conscious and price is secondary to the quality in Europe. Hilfiger adopted a strategy of internationalization. This was based on several potentially lucrative outcomes being contemplated by Hilfiger management. The initial purpose served by selling internationally is that the company tries to compensate for the loss of domestic sales. isk reduction and economies of scale are also the benefits of selling internationally. Selling domestically on the other hand entangles the company in increasingly complex and unrewarding strategies. In Europe, Hilfiger merchandise costs more due to higher management cost and inefficiencies in distribution network of retailers and wholesalers. Customers in Europe demand better quality as well. Increasing cost in Europe may leave the brand reflective of a non-uniform strategy. The paper highlights Tommy Hilfiger's issues of doing business in an increasingly competitive…… [Read More]
service industry. Some companies do strictly line clearance while other tree service companies only do residential or commercial work. Line clearance companies, such as Asplunhd, the largest line clearance company in the world, use bucket trucks and climbing crews to work with the electric companies to make sure tree limbs are far enough away from the electric lines. (ISA leader board for 1999, Arborist News Magazine article on the ISA website) allard tree service is one of the largest residential tree services in the country, removing and trimming trees for customers at their homes or businesses. (ISA leader board for 1999, ISA website) They also use bucket trucks and climbing crews, but there work mainly consists of removing limbs over roofs, not electric lines.
If a person were to start a tree trimming service, investment would very easy if the person wanted to start a residential company. To begin, all…… [Read More]
While all the above three solutions are easily applicable, Leethal Fashion Accessories would find it the most challenging to take action, even more so as this is impeded by geographic restrictions.
5. Control Strategies
Like any other economist will tell you, implementing a text book solution does not guarantee 100% success rates. It as such necessary to base your strategy on the years of academic expertise; but adjust the findings to the unique features of your company, your outsourcing destination and the particularities of your situation. Otherwise put, it is pivotal to integrate the final solution in the context of the technological developments and the diversity raised by the Asia-Pacific context (Bartol, Martin and Tein, 2004).
Given this understanding, it would be first advisable to send delegates from Leethal Fashion Accessories to the Indian manufacturing plants. These would ensure that the apparel is manufactured at the desired standards of quality,…… [Read More]
In a slumping economy, imports decrease, but exports may hold steady. Another way in which the business cycle is related to the current account is that measure taken to address business cycle issues, such as trade barriers, subsidies or exchange rate policy can impact the current account by altering the balance of trade. However, it would take a substantial change in the business cycle in order to affect the current account at this point. The country would need to reduce imports dramatically, as happened in Argentina following their currency collapse. Regular business cycle shifts will impact the current account but the deficit is presently so large that it these impacts will not reverse the current trends unless the change in the business cycle is catastrophic.
hat is the relationship between a country's net financial inflows & its current account?
The relationship between the net financial flow and the current account…… [Read More]
pneumothorax.We identify the two main types of Pneumothorax with its causes and possible treatments. We also analyze a case study involving a 33-year fruit vegetable merchant, who, while delivering merchandise a mini supermarket developed chest pain difficulty breathing. And then subsequently admitted to casualty and diagnosed with pneumothorax.
Pneumothorax which is defined by Light (1995) as the unprecedented entry of air into an individual's pleural space is a serious ailment. Its pathophysiology described by Combulsier in 1747 (Mohebbi and ad, 2007). This was after realizing that the noted reduction in the pulmonary function was as a result of lung compression caused by air present in the pleural space as outlined by Sadiron et al., (1997).
Types and causes of Pneumothorax
This type of pneumothorax is caused by the presence of air within a victim's pleural space. It is a consequence of a blunt or a penetrating trauma with…… [Read More]
Among these "Scribble" designs is the drop earrings design. The reason for their success is the overall smooth and elegant look of these earrings. Made with sterling silver, the piece creates a contrasting color tone against darker skin tones. The scribble shape of the design creates a free-flowing feel that makes the piece feel both delicate and prominent at the same time. Although the Scribble appears relatively small, with most signature lines no more than two inches in length, the color and smooth texture of the earrings, magnifies its overall charm. The "Scribble" series reasonably priced, this is because Paloma steers away from expensive jewelry for this signature series, intending to keep it elegant and simple. The line starts from as low as 75 dollars to over 3000, with most of the pieces costing around 200 dollars.
Another signature Paloma line is the "loving heart" series, in which Paloma uses…… [Read More]
Microeconomic Analysis: The Walt Disney Company
Why Walt Disney?
Just a mention of the name, "Walt Disney," stirs up images in the minds of nearly every individual in the western world. From movies to merchandise, theme parks to cruise lines, the Walt Disney Company has been able to create a distinct niche for itself in a variety of markets -- a feat that is certainly no easy task. Headquartered in Burbank, California, The Walt Disney Company is an American multinational media conglomerate, and is the largest media conglomerate in the world in terms of revenue (Siklos, 2009, 1). While, like many American corporations, the Walt Disney Company has had its low-points throughout the years, as well as having been hit by the lingering economic crisis, the fact remains that Walt Disney has consistently remained a company that has the ability to weather any storm. Since its inception as a company…… [Read More]
Lewis Group Sustainability Model:
The Lewis Group is a retail furniture company operating in South Africa that sells its furniture to low-income customers. Notably, approximately 60% of the company's merchandise is being imported from some countries in Brazil and China. As the leading retailer of household furniture, home electronics, and electrical appliances, The Lewis Group sold its products mainly on credit through Best Home and Electric, the Lewis, and My Home Brands. The success and profitability of the Lewis Group is associated with the scope of its business and its business model. Currently, the company has more than 600 stores throughout the main metropolitan areas and has a strong presence in the rural areas in South Africa. Moreover, 56 of the firm's stores are located in the neighboring southern African nations like Namibia, Botswana, Swaziland, and Lesotho.
The Lewis Group Business Model:
The Lewis Group business model basically revolves around…… [Read More]
Giants in Asia:
The two largest retailers i.e. American -- based Wal-Mart and France's Carrefour have targeted the Asian market with varying results. These varying results have been realized despite of the fact that these two giants have provided large stores stocked with general merchandise and groceries. Notably, the entry of Wal-Mart and Carrefour into new national markets is basically a major shock to local retailers who have seen the contemporary status quo of various decades influenced by these international competitors. Wal-Mart's entry into the Chinese market thrived significantly as the retailer revitalized the retail sector in China. On the contrary, the company's entry into the retail sector in Japan was more problematic than in the Chinese retail sector to an extent that it was forced to find a local partner after evaluating this market for four years. For Carrefour, its entry into Asia was mainly characterized by the movement…… [Read More]
Hilfiger to sell on an international basis rather than focusing purely on the domestic market?
Today's international market is characterized by the customer loyalty and the competitiveness. Consumers need to buy such products or brands that deliver so uniqueness and difference based on quality, price and especially targeting the niche. Consumers of niche market are not concerned with the price, but they are much more concern with the quality of the product that they are buying.
Tommy Hilfiger, an American symbol of prestige founded in 1985. It is an American-based corporation that expanded its business into many places of the world. There are several factors that prompt Hilfiger to sell on an international basis that are the benefits of emerging opportunities that are available in the global market. Opportunities are based on the rising demand from the international consumers. Moreover, the competition among various brands made Hilfiger rush towards the…… [Read More]
Coca-Cola: Strategy Implementation
The Coca-Cola Company's organization is a double-edged sword. The Company's structure is one of global decentralization in which the Company manufactures and sells concentrates, bases and syrups, owns the brands and conducts marketing initiatives, while its global "partners" manufacture, package, merchandise and distribute the final products. This business model involves a "tall hierarchy" of at least 5 levels in which daily operations are apparently left to lower levels while long-term planning and extended-vision is handled by higher levels. The Company also employs committees to handle vital functions such as audit and budget, while using task forces to study unusual-but-possible repetitive problems that may arise for the Company. The management style is apparently very culturally adaptable, optimistic, passionate, responsible and rewarding, having lower level management handle day-to-day operations while upper management focuses on long-range objectives. The Company's conflict-resolution style is also quite adaptable, using Ombudsmen who are confidential,…… [Read More]
In two perceptive and provocative essays, authors Ann duCille and Henry Giroux examine toys, movies and media and examine ways in which the modern commercial culture directs the development of a child's psychology. Ann duCille's thoughtful essay, Dyes and Dolls: Multicultural Barbie and the Merchandising of Difference, provides an insightful analysis of the ubiquitous Barbie doll and the role this icon of Americana plays in molding the maturation of entire generations of young girls. With his expansive and detailed Children's Culture and Disney's Animated Films, essayist Henry A. Giroux investigates the Disney empire and its vast influence on today's youth, exercised through their domination of the children's media market. Both of these works provide readers with empirical evidence supporting their separate, yet inherently intertwined, suppositions that media manipulation targeting children for the pursuit of capitalistic gains invariably causes lasting unintended consequences. Whether through the rebranding of a centuries…… [Read More]
Tesco PLC: Success and Future
Products and Services Offered
Tesco's Future (Porter's Competitive Model)
Suppliers' Bargaining power
Buyers' Bargaining Power
Possible Entry of Competitors
Extent of ivalry
Tesco PLC is a UK-headquartered general merchandise store, with outlets in eleven other countries. Tesco is the largest of its kind in the United Kingdom, and only second to Wal-Mart, in the world. It began as a small group of stalls in 1919. The name 'Tesco' was, however, only adopted later in 1924; and the first store opened in Middlesex five years later. By mid-1990s, the company had hit the 500 mark in terms of operational stores. This number almost tripled in the following decade, and the chain currently consists 2,500+ branches, spread across twelve countries. Besides being an FTSE 100 component, the company is listed on the LSE, and controls a significant share of…… [Read More]
If, for example, an employee is working in a high volume, low margin Department, they still have a similar chance at performance goals as someone working in a low volume, high margin (appliances, for instance) area of the store. Linking compensation to market pricing evens the playing field for employees.
Does using a job evaluation system for jobs that do not have market pricing data affect the relationship of these jobs to jobs that do have market pricing data? If so, explain how.
Certainly. Components of all job tasks surround performance, but if Sears is going to avoid compression in the workforce and maintain a rewards system, they must find a way to even out compensation structures. For jobs that do not have market pricing, the company must either guess or estimate compensation data, which is likely to be more qualitative than quantitative. Second, it is more difficult for the…… [Read More]
They are also the guidelines by which a member determines the correctitude of conduct in relationships with the clients, colleagues, members of allied professions and with various populaces.
A member of the family and consumer sciences profession and of AAFCS is required by the code of ethics to maintain the highest responsible standard of professional performance. At all times, a member should uphold confidentiality and act with intelligence, dedication, and ebullience. A member is required to fulfill the obligation in order to continually advance and extend personal professional qualification. Sharing the professional competence with colleagues and clients is also a requirement meant to enlarge and carry on development of the profession.
The code of ethics requires members to support the objectives of the American Association of Family and Consumer Sciences. Members should also take part in its development through informed, active participation in its programs. Extending public cognizance and understanding…… [Read More]
To contribute to my professional experience, I have worked all over the globe within the scope of major retail organizations to help compile and execute successful marketing and brand imaging strategies. While working for VOGUE in New York in 2007 as an editorial intern, I helped select current fashion trends through exhaustive research and development. I also had the luxury of helping with the creative tasks of compiling the magazine content as well as assessing story ideas, researching, and copyediting. Much of my experience is also drawn from my time at Michael Kors in New York as a Public Relations Intern in 2006. There, I helped arrange looks for the Golden Globe Awards and photo shoots for high-end magazines, effectively representing the Michael Kors brand image. I also gained experience in managing press contact databases and client files, as well as tracking press coverage and assisting the process of press…… [Read More]
Not surprising to see concerts by Dave Matthews, Green Day, and other top groups since Live Nation recently purchased Ticket Master.
A recent article in the LA Times reports that 48% of consumers are "eating out less often now than they did six months ago" (Hallock, 2009). John Self, a professor at Cal Poly Pomona in Los Angeles County, who has published a study of why restaurants fail, estimates that about 1,100 restaurants open in L.A. County annually; and among those, 24% close the first year and within three years 50% of those 1,100 have closed. But given the sluggish economy, Self asserts that up to 50% of new restaurants may be expected close in the first year, double the number that close in good economic times.
Data are not available as to how the recession has affected HRC, or Planet Hollywood, Johnny Rocket's or other theme-centered restaurants, but it…… [Read More]
Even poor De Beers seems flummoxed. (Twitchell, 2002, p. xv)
Some consider this trend, of luxury for the every day buyer a negative trend as non-luxury brands claim luxury status and luxury brands like Prada are pressured to provide their products for a lower scale market, yet the trend is essential to international and national creative industries development.
In fact one trend in international creative industries is a system nicknamed "grey marketing" where goods and services are sold outside the traditional contracts and supply systems but are not sold illegally, such as is the caser of black marketed items. In other words industries, such as the fashion industry are populated by organizations that are willing to make alternative contractual agreements with companies that might sell their "labels" for lesser prices, such as in the case of overstock or in some cases even exclusive sales of products that might require less…… [Read More]
Did your view of media literacy change over the course of the class? How will your consumption of media be affected?
As a result of taking this course, I think I have become a more critical consumer of the media. When I see a commercial, I am hyper-aware of how the product is being positioned in the market, and what types of narratives are being used to play upon the goals and aspirations of the target audience, such as being a 'good mom,' or 'hip and sexy' or even to live pain-free into one's old age. Although I was always aware of advertising, now I am better able to see how advertising works upon the psyche of the consumer. I also notice how certain ads are featured during certain kinds of television programs, or on certain Internet sites, to specifically reach a demographic.
I think I may also be slightly…… [Read More]
New home construction in the community also alters water usage issues. Bob Wilbert is the head of maintenance of the facility and oversees all internal and subcontracted maintenance and upkeep of the grounds and facilities.
The administrative structure of the facility includes:
Successful criteria employment
General Manger oversees all staff, including temporary and permanent employees in catering and facilities management
Controller facilitates all accounting and financial needs and maintains records.
The facility does not offer a box office or ticketing, but reservations for golf and tennis are suggested. The facility has 550 golf members and over 1000 sport and social members. So use of the tennis and golf facilities are in high demand. The golf shop schedules tee times every 10 minutes and the tennis facility has 30 minute to 3 hours reservations for tennis courts. Availability for walk in is always a possibility but does not take priority over…… [Read More]
This strategy of investing face-time has continued to scale extremely well in the U.S., yet has faced many challenges in other nations that value data, hard numbers and strong methodologies to validate the claims of products. One nations' buyers of cosmetics in particular, the Japanese, are more focused on the specifics of the how a product is produced and want to know in great detail what the ingredients are in specific measures. The level of data analysis presented by cosmetics providers in Japan is often taken as a measure of the elegancy and exclusivity of a given cosmetic product over another (Grammenou, 2009). Due to these wide variations in how cosmetics are sold, Avon continues to excel in westernized cultures with the U.S. being their flagship market. In Asian cultures were the depth and sophistication of data is an indicator of exclusory and elegance, Avon continues to struggle in other…… [Read More]
Customers entered the establishment carrying shoulder bags and computer notebook bags and proceeded directly to the counter to make purchases. The vast majority of customers arrived alone and most of them left the establishment shortly after receiving their purchases. The customers who opted to take seats did not make any eye contact with other customers and proceeded to use their cell phones or notebook computers (apparently) to send text messages and emails. Some of them took out folders or paperwork from their bags and appeared to check through them. The observer also noted that all of the customers who occupied seats checked their watches fairly frequently; in many cases, they first glanced up at the clock on the wall before checking their own watches immediately afterwards.
On the basis of these observations, the observer concluded that the vast majority of the Starbucks Customers frequenting the establishment on the occasion of…… [Read More]