By Rosemary Varley
Introducing scholars to the product administration procedure, this revised and up-to-date moment version supplies an perception into the operations and practices utilized by shops to accomplish their product process pursuits. mixing theoretical methods from a few administration views, together with advertising, paying for and logistics, this article illustrates the breadth of data wanted for this advanced managerial activity. together with photographs, figures, tables and conceptual diagrams, it additionally examines the sensible components of product administration. Incorporating major new chapters and integrating discussions at the courting among the product and its promoting atmosphere, and the final retail model, this moment version builds at the foundations of the hugely winning first version, and makes use of a huge diversity of up to date case stories and functional examples to provide a transparent and concise advent to retail product administration. stopover at the significant other site at www.routledge.com/textbooks/0415372136.
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Additional info for Retail Product Management Buying and Merchandising
J. (2002) Retail Marketing, McGraw-Hill, Maidenhead. Mitchell, A. (2003) ‘Embrace the Experience So Marketing Can Benefit’, Marketing Week, 6 March. Morrell, L. (2004) ‘Cooking Up a Storm’, Retail Week, 26 March. Oxford Dictionary (1996) The Oxford Compact English Dictionary, Oxford University Press, Oxford. Parry, C. (2003) ‘Factfile: Supermarkets Sweeping Clean’, Marketing Week, 4 December. C. (1998) Strategic Marketing for Success in Retailing, Quorum Books, Westport, CT. 19 UNDERSTANDING RETAIL PRODUCT MANAGEMENT Tat Key, H.
8 INTRODUCTION: SCOPE AND CONCEPTS RETAIL POSITIONING Positioning is a concept that has evolved to help a retailer to understand their own standing relative to their competition, as perceived by their customers. It can help a retail organisation that is involved in strategic planning to have a good understanding of how one retailer’s offer is regarded compared to others, and the basis upon which the offer is ‘measured’ by consumers. Both academic and trade sources suggest that the following elements of a retail offer are important in how customers judge one retailer’s offer over another: ■ ■ ■ ■ price; product assortment; convenient to use/visit; service quality.
Purchases such as household furnishings, cars or large electrical appliances would ﬁt this category. Other tangible goods are consumable and convenience orientated products such as food and toiletries. These products are generally less complex, frequently purchased and being of lower value, involve less risk. Other products are information based at the purchasing stage and are consumed as they are used, such as a travel ticket or a holiday. Some service products are experienced as they are purchased and consumed, like a restaurant meal or a haircut.