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What specific activities should be taken for retailing?

Time:2012-08-15Hits:

These actions are known as tactics and encompass a retailers daily and short-term operations. They must be responsive to the uncontrollable environment. Here are some tactical moves a retailer may make (also these can directly influence the choice of pos equipment and system):
 Store location: Trading-area analysis gauges the area from which a firm draws its customers. The level of competition in a trading area is studied regularly. Relationships with nearby retailers are optimized. A chain carefully decides on the sites of new outlets. Facilities are actually built or modified.
There should be a clear chain of command from managers to workers. Managing the business: There is a clear chain of command from managers to workers. An organization structure is set into place. Personnel are hired, trained, and supervised. Asset management tracks assets and liabilities. The budget is spent properly. Operations are systemized and adjusted as required.
 Merchandise management and pricing: The assortments within departments and the space allotted to each department require constant decision making. Innovative firms look for new merchandise and clear out slow-moving items. Purchase terms are negotiated and suppliers sought. Selling prices reflect the firms image and target market. Price ranges offer consumers some choice. Adaptive actions are needed to respond to higher supplier prices and react to competitors prices.
 Communicating -with the customer: The storefront and display windows, store layout, and merchandise displays need regular attention. These elements help gain consumer enthusiasm, present a fresh look, introduce new products, and reflect changing seasons. Ads are placed during the proper time and in the proper media. The deployment of sales personnel varies by merchandise category and season.


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