Retail Trends & Strategies


  • Better market positioning: This involves more careful identification of market segments and providing service superior to that of competition.
  • Market intensification: This involves clustering more stores in the same metropolitan area and contiguous markets.
  • Secondary markets: Expansion will be increasingly focused on secondary markets  of under 100,000 population because there may be less competition from larger retailers, and costs, such as wages, may be lower.
  • Differences in store size: Retailers will have a more flexible portfolio of different sized stores depending on the size of the community and existing retail competition. More use of second-hand space will occur because this can result in savings of 30 percent or more in rent.
  • Productivity increases: The application of central checkout, self-selection, and low gross margins to areas of trade where these techniques have not been used before will occur. Look now at toy supermarkets, home-decorating centers, and self-service shoe stores.
  • Fewer product options: Product lines will increasingly be consolidated, and new product development will be cut back.
  • Service growth: Services retailing will continue to grow as a percentage of total retail sales. Services already represent about 50 percent of the gross national product.
  • More mergers: Increasingly, smaller and weaker firms will be absorbed as more retail outlets struggle to survive.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

Business Needs Analysis


As you analyze your business scheduling needs, consider these questions:

  • What is the core and discretionary workload?
  • Can idle time and overtime be improved?
  • Is the workload balanced or unbalanced? Does it fluctuate?
  • How is the current schedule working? Is it completely broken, or it can be modified?
  • Is keeping the current schedule an acceptable alternative for the stated business objectives?
  • Where are the cost saving opportunities?

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

Postponement


Postponement is the delay to the last possible moment of the final formulation or commitment of a product. The most general method which can be applied in promoting the efficiency of a marketing system is the postponement of differentiation for example, to postpone changes in form and identity to the latest point in the marketing flow or to postpone changes in  inventory location to the latest possible time. Minimization of the risk of speculation is achieved by delaying differentiation of the product to the time of purchase. Savings in transportation of goods are achieved because merchandise is moved in larger quantities, in bulk, or in relatively undifferentiated places.

Postponement is the opposite of speculation. A speculative inventory is put into a distribution center whenever the cost of carrying that inventory is less than the profit derived from having that inventory readily available to stimulate purchases.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

Benefits of Quality Function Deployment


Focus on Customer

  • Focus mainly on customer needs and wants.
  • Compare their product with competitors.
  • Prioritize according to customer’s level of importance.
  • Identify the vital item to be acted upon.

Time Saving

  • Enables to change the design in the starting itself.
  • Limits the problems after introduction of the product.
  • Gives opportunities for future applications.
  • Reduce the time for redesigning since all changes are made in first step itself.

Encourages teamwork

  • Based on everyone’ ideas
  • Creates communication at interfaces.
  • Team members are recognized.

Success depends on:

  • Quality consciousness of each member.
  • Prevailing team spirit.
  • Correctness of customer requirements.
  • Knowledge of members on management tools.
  • Knowledge of members on process details.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

Internet Support to Marketing


Market Research

  1. Market information
  2. Competitor information
  3. Customer information
  4. Miscellaneous information
  5. Collect saving ideas

Database Building

  1. World-wide club
  2. Dynamic relationship marketing

Customer Service

  1. Self-servicing customers
  2. Self-service customer abuse
  3. Self-service cost savings

New Product Development

  1. Collecting new ideas
  2. Tailor-made products
  3. Accelerating new product development

Internal Communications

  1. Intranets
  2. Extranets

Cost Reduction

  1. Print and distribution
  2. Phone calls
  3. Customer service
  4. Collecting cost-saving tips
  5. Revenue generation

Distribution

  1. Products
  2. Services
  3. Purchases

Selling

  1. Few fairytale  sales stories
  2. New markets
  3. Small value, big turnover
  4. Sales management tool

Promotion

  1. Have a presence
  2. Interactive advertising creative sponsorship
  3. Sales promotions
  4. Public relations
  5. Database marketing

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

 

Convenience Stores


Convenience stores are actually mini supermarkets. They carry many of the same food and nonfood items that are sold in supermarkets, but they offer a limited selection of brands. The products are normally packaged in small sizes, to allow shelf space for other items. Convenience stores do not have meat or fresh produce departments. One of the most significant changes in convenience stores has been the addition of gasoline.

Since convenience store prices on non-gasoline items are typically higher than supermarket prices, we should ask why people shop at them. Many shoppers tolerate the higher prices because the total of their convenience store purchases is quite small. They are willing to pay a little extra for the convenience of being able to make purchases quickly and easily. Consumers recognize that they are paying a little more for these products than they would at a supermarket. But most people are not willing to invest the extra time and effort to go to the supermarket to save a few cents on one or two items. In effect, the convenience store retailer charges the consumer a premium for this time savings.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

 

Investing in Success


To get profit without risk, experience without danger, and reward without work is as impossible as it is to live without being born. Succinctly, there is no success without sacrifice. But is sacrifice bad? Like many words, the word “sacrifice” is misunderstood. To most people, sacrifice means giving up time or money, or enduring hardships, or doing something unpleasant. Now, it is true that sacrifice may mean those things. But that is only half the definition. The other part of the definition, the one that is almost always overlooked, is to gain something even more valuable.

The complete definition of sacrifice is give up something of value – money, time, or energy – to gain something of even more value – more money, a higher standard of living, better education for the kids, or other valuable considerations. Sacrifice means give up a little now to receive more later.

Sacrificing then means investing. We give up something today so we will have more of something tomorrow. Anyone who wants to achieve maximum success must be willing to sacrifice or invest now for reward later. To validate this point, consider the following:

  • A majority of people reaching age 65 have little savings, investments, or other valuables – this after spending 45 adult years in the richest society ever known. Had these people in poverty and near-poverty invested only ten percent of what they had earned in one of hundreds of “sure” investments, they would be very well off financially, and the social security system could be phased out completely.
  • Many young people feel that 35 0r 40 hours a week is all they should work. Being asked to work more than that is such a “big” sacrifice, many try to find another job.
  • Millions of people performing tasks that are rapidly being taken over by robots and computers think it’s too much of a sacrifice to learn new skills that are increasingly in demand.
  • Rather than invest part of what they earn, millions and millions of people give way to temptation and buy things on a certain plan.
  • And millions of students, rather than sacrifice and really learn a subject, use every conceivable technique to pass a course except to learn the material.

On the positive side, there are some people of all ages to be commended for their willingness – and good sense – to sacrifice. Sacrifice is an investment that means more than just money. Sacrifice means deep satisfaction in helping others to find joy in this world.

Happiness, achievement, money, promotion, reward, love, and anything else of value are gained only through sacrifice. Make sacrifices. They eventually lead to success.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

Intranets


Not all Websites are available to anyone cruising the Net. Some are reserved for the private use of a single company’s employees and stakeholders. An intranet uses the same technologies as the Internet and the World Wide Web, but the information provided and the access allowed are restricted to the boundaries of a company-wide LAN or WAN. In some cases, suppliers, distribution partners, and key customers may also have access, but intranets are protected from unauthorized access through the Internet by a firewall, a special type of gateway that controls access to the local network. People on an intranet can get out to the Internet, but unauthorized people on the Internet cannot get in.

Possibly the biggest advantage of an intranet is that it eliminates the problem of employees’ using different types of computers within a company. On an Intranet, all information is available in a format compatible with Macintosh, PC, UNIX-based computers. The need to publish internal documents on paper is virtually eliminated because everyone can access the information electronically.

Besides saving paper, an intranet can save a company money in the form of employee hours. Employees can find information much faster and more easily by using a well-designed database on an intranet than by digging through a filing cabinet or card catalog. Some of the communication uses companies have for intranets include updating policy manuals, posting job openings and submitting job applications, accessing martketing and sales presentations from anywhere in the world, updating and managing employee benefits, accessing company records and databases, collaborating from anywhere in the  world to develop new products, scheduling meetings, setting up company phone directories, and publishing company newsletters. In fact, just about any information that can help employees communicate is a good candidate for an intranet. As video and audio technologies progress, you can expect to see more multimedia applications on intranets as well.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, Lectures, Line of Sight

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