tailieunhanh - Lecture Retailing in the 21st Century - Chapter 6: Buying and displaying merchandise

This chapter presents the following content: Determining the right merchandise for your store, locating sources for the merchandise, attending markets and trade shows, working with importers, sales reps and buying offices,. | Ch. 6: Buying and Displaying Merchandise Determining the right merchandise for your store Locating sources for the merchandise Attending markets and trade shows Working with importers, sales reps and buying offices Ordering the merchandise Pricing the merchandise Using themes and props to create displays Borrowing display ideas from the pros This is the overview of topics at the beginning of Chapter 6. Sources of Merchandise Buying direct from manufacturers Direct salesperson Manufacturer’s rep Sub-rep “Repping” firm Wholesale distributor Importer Jobber Buying group Buying service or buying office Consignment agreement Each potential supplier of merchandise has its pros and cons, as described in Chapter 6. Buying Strategies Never buy without a plan and a budget! Use the first day of a market or trade show to look around before making decisions Go in with knowledge of the marketplace, customers and competitors’ prices Don’t act like a “big shot,” even when you’re making a big buy . | Ch. 6: Buying and Displaying Merchandise Determining the right merchandise for your store Locating sources for the merchandise Attending markets and trade shows Working with importers, sales reps and buying offices Ordering the merchandise Pricing the merchandise Using themes and props to create displays Borrowing display ideas from the pros This is the overview of topics at the beginning of Chapter 6. Sources of Merchandise Buying direct from manufacturers Direct salesperson Manufacturer’s rep Sub-rep “Repping” firm Wholesale distributor Importer Jobber Buying group Buying service or buying office Consignment agreement Each potential supplier of merchandise has its pros and cons, as described in Chapter 6. Buying Strategies Never buy without a plan and a budget! Use the first day of a market or trade show to look around before making decisions Go in with knowledge of the marketplace, customers and competitors’ prices Don’t act like a “big shot,” even when you’re making a big buy Don’t act too humble, either! Ask for deals and add-on services A list of basic rules to go into a market or trade show without being overwhelmed by the choices! Deals Worth Asking For at Market Off-price merchandise Promotional goods Invoice dating Better shipping terms Trunk shows, demo days Advertising money Photos of merchandise Can you think of others? If you don’t ask, you may not get these added-value perks from vendors. When Pricing Merchandise, Consider The competition in your market The perceived value of the item or line The value inherent in the brand The merchandise category The type of store The overall look of the merchandise What employees think of the merchandise The true market value of the item or line Your own hunch about what to charge for each item in the store is not enough. Consider these other factors. The “Open to Thrive” System The 40-55-5 Rule A maximum 40% of money made on sales will go toward expenses associated with the sales. 55% of money made on sales will go toward buying new merchandise. 5% of money made on sales is positive cash flow (in reality, a type of profit) The “Open-To-Thrive” buying system described in greater detail in the book depends on the use of this rule.

• Quản trị kinh doanh
• Lecture Retailing
• Retailing in the 21st Century
• Business planning
• The retail industry
• Business structure
• Displaying merchandise
• Merchandise functions
• The dynamic nature of retail
• Retail readiness
• The global marketplace
• Web site design
• Retailing management
• Lecture Retailing management
• Retailing strategy
• Merchandise management
• Store management
• Retail mix
• Types of retailers
• Customer buying behavior
• Stimulating need recognition
• Retail marketing strategy
• Financial strategy
• Retail locations
• Retail site location
• Human resource management
• Information systems
• Supply chain management
• Customer relationship management
• Managing merchandise assortments
• Merchandise planning
• Buying merchandise
• Setting retail prices
• Retail communication mix
• Managing the store
• Store layout
• Customer service
• Customer service strategies