UNDERGRADUATE RETAIL AND WHOLESALE

UNDERGRADUATE RETAIL AND WHOLESALE - Retailing Strategies...

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Retailing Strategies
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Retailing ---all activities involved in the sale of goods and services to the ultimate consumer. generally viewed as undesirable jobs by students--hours, time, stress, dealing with idiots, etc. . some of the highest paying jobs The most critical aspect of retailing is creating a consistent, competitively differentiated strategy that satisfies a target market.
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Target Market Merchandising Promotion Location Store Atmospherics Pricing Service Looking for the Critical Retail Fit
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Start with a Target Market Must identify a segment of the total market that the company’s value generating capacity can satisfy better than any other competitor. Valid Customer Requirements (VCRs) If the company cannot add value based on VCRs, the individual is not in the company’s target market. Companies can and should fire customers.
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Merchandising Setting the merchandise mix: general product categories product lines specific products within lines depth of assortment width of assortment Must be consistent with needs of target market and competitively differentiated.
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UNDERGRADUATE RETAIL AND WHOLESALE - Retailing Strategies...

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