Retail Management Notes, Basics of Retail Management, Classification of Retailers, Types of Retailers, Scope of Retailing, Functions of Retailers, Role of Retailers in Distribution Channel, Indian retailscape, organized and Unorganized Retailers,
Deviprasad Goenka Management college of Media Studies
http://www.dgmcms.org.in/
Subject:BRAND BUILDING
Lesson : Brand startegies
Faculty Name: Vishal Desai
The term "merchandise mix" is essentially the product assortment a retail store offers. It refers to the breadth and depth of the products a given retail store carries on a regular basis. It's not always easy to find a good balance among the products a store could choose to offer, so it's worth considering carefully.
Retail Management Notes, Basics of Retail Management, Classification of Retailers, Types of Retailers, Scope of Retailing, Functions of Retailers, Role of Retailers in Distribution Channel, Indian retailscape, organized and Unorganized Retailers,
Deviprasad Goenka Management college of Media Studies
http://www.dgmcms.org.in/
Subject:BRAND BUILDING
Lesson : Brand startegies
Faculty Name: Vishal Desai
The term "merchandise mix" is essentially the product assortment a retail store offers. It refers to the breadth and depth of the products a given retail store carries on a regular basis. It's not always easy to find a good balance among the products a store could choose to offer, so it's worth considering carefully.
Key measure of the retailer’s success is selling as much merchandise as possible at the highest profit margin.
Retailers can no longer depend on random sourcing / buying in the hope that they will sell them all.
There are two major areas of profit leakage in retail. Firstly - lost sales resulting from lack of stock, and secondly - forced margin reductions (markdown) due to excessive stock.
There are processes and solutions in order to reduce and eliminate excess inventory and maximise profit. That is "Merchandise Planning".
Merchandise Planning is "A systematic approach by the retailer, aimed at maximising return on investment, through sales & inventory planning, in order to increase profitability”.
Main goal of Merchandise planning is to maximize the use of assets, and resources a company owns.
In the long run, effective merchandise planning can save time, help streamline business processes and objectives, and optimize and mobilize inventory to get it off the shelves into the hands of the consumers for the right price.
Retail Sore, Store management, Responsibilities of store manager, Store objectives, Store design, Principles of store design, Layout, Types of layout, Signage, Feature Areas
This presentation gives an overview about the concept of Category Management in Retail. It covers topic such as Visual Merchandising, Planogram, CM in Grocery Store vs Apparel Store
Retail Brand Alternatives, National Brands, Manufacturer’s Brands, Licensed Brands, Private-Label Brands, store brands, house brands, own brands, Premium Private-Label Brands, Copycat Brands, Exclusive Brands, Generic Brands, National Brands or Private Brands?, Advantages of Private Labels, Drawbacks of Private Labels
Key measure of the retailer’s success is selling as much merchandise as possible at the highest profit margin.
Retailers can no longer depend on random sourcing / buying in the hope that they will sell them all.
There are two major areas of profit leakage in retail. Firstly - lost sales resulting from lack of stock, and secondly - forced margin reductions (markdown) due to excessive stock.
There are processes and solutions in order to reduce and eliminate excess inventory and maximise profit. That is "Merchandise Planning".
Merchandise Planning is "A systematic approach by the retailer, aimed at maximising return on investment, through sales & inventory planning, in order to increase profitability”.
Main goal of Merchandise planning is to maximize the use of assets, and resources a company owns.
In the long run, effective merchandise planning can save time, help streamline business processes and objectives, and optimize and mobilize inventory to get it off the shelves into the hands of the consumers for the right price.
Retail Sore, Store management, Responsibilities of store manager, Store objectives, Store design, Principles of store design, Layout, Types of layout, Signage, Feature Areas
This presentation gives an overview about the concept of Category Management in Retail. It covers topic such as Visual Merchandising, Planogram, CM in Grocery Store vs Apparel Store
Retail Brand Alternatives, National Brands, Manufacturer’s Brands, Licensed Brands, Private-Label Brands, store brands, house brands, own brands, Premium Private-Label Brands, Copycat Brands, Exclusive Brands, Generic Brands, National Brands or Private Brands?, Advantages of Private Labels, Drawbacks of Private Labels
Developing and ManagingProductsUnrestricted• Sus.docxhcheryl1
Developing and Managing
Products
Unrestricted
• Sustain growth
• Increase revenue/profit
• Replace obsolete items
Why introduce new products?
• New-to-the-world: discontinuous innovations
• New product lines: enter an established market
• Product line additions
• Improvements or revisions
• Repositioned products: existing products
• Lower-priced products: like competition, but at
a lower price
Categories of new products
1. New product strategy
2. Idea generation
3. Idea screening
4. Business analysis
5. Development
6. Test marketing
7. Commercialization
8. New product
New product development process
• “Plan that links the new product development
process with the objectives of the:
• Marketing department
• Business unit
• Corporation”
• Should specify the role the new products will
play in the organization’s overall strategy
New product strategy
• Sources of new-product ideas
• Customers
• Employees
• Distributors
• Competitors
• Research and development
• Consultants
• Other experts
Idea generation
• Screening:
• Eliminates ideas that are inconsistent with
organizational strategy or are inappropriate for some
other reason
• Concept test:
• Test to evaluate a new-product idea, usually before
any prototype has been created
• Involves consumer reactions to product descriptions
or visual representations of the proposed new
product
Idea screening and concept test
Demand Cost
Sales Profitability
Business analysis stage
• “The stage in the product development process
in which a prototype is developed and a
marketing strategy is outlined”
• Involves:
• Prototype
• Marketing strategy
• Packaging, branding, and labeling
• Promotion, price, and distribution strategy
• Examining manufacturing feasibility
Development
• Team oriented approach
• Marketing, R&D, engineers, production, and suppliers
• Shortens process and reduces costs
Development
• Test marketing:
• “Limited introduction of a product and a marketing
program to determine the reactions of potential
customers in a market situation.”
• Alternatives to test marketing:
• Scanner-based research
• Simulated market testing
• Online test marketing
Test marketing
• Decision to market a product involves:
• Ordering production materials and equipment
• Starting production
• Building inventories
• Shipping the product to field distribution points
• Training the sales force
• Announcing the product to the trade
• Advertising to potential customers
Commercialization
Why do some products fail?
• No discernible benefit compared to existing
products
• Poor match between product features and
customer desires
• Overestimation of market size
• Incorrect targeting
• Too high or too low prices
• Inadequate distribution
Reasons for product failure
Diffusion of Innovation
Spread of new products
Complexity Compatibility Relativeadvantage
Observability Trialability
Product characteristics and rate of adoption
Product life cycles
• Hi.
The marketing mix refers to the set of actions, or tactics, that a company uses to promote its brand or product in the market. The 4Ps make up a typical marketing mix - Price, Product, Promotion and Place. However, nowadays, the marketing mix increasingly includes several other Ps like Packaging, Positioning, People and even Politics as vital mix elements.
Is AI-Generated Content the Future of Content Creation?Cut-the-SaaS
Discover the transformative power of AI in content creation with our presentation, "Is AI-Generated Content the Future of Content Creation?" by Puran Parsani, CEO & Editor of Cut-The-SaaS. Learn how AI-generated content is revolutionizing marketing, publishing, education, healthcare, and finance by offering unprecedented efficiency, creativity, and scalability.
Understanding
AI-Generated Content:
AI-generated content includes text, images, videos, and audio produced by AI without direct human involvement. This technology leverages large datasets to create contextually relevant and coherent material, streamlining content production.
Key Benefits:
Content Creation: Rapidly generate high-quality content for blogs, articles, and social media.
Brainstorming: AI simulates conversations to inspire creative ideas.
Research Assistance: Efficiently summarize and research information.
Market Insights:
The content marketing industry is projected to grow to $17.6 billion by 2032, with AI-generated content expected to dominate over 55% of the market.
Case Study: CNET’s AI Content Controversy:
CNET’s use of AI for news articles led to public scrutiny due to factual inaccuracies, highlighting the need for transparency and human oversight.
Benefits Across Industries:
Marketing: Personalize content at scale and optimize engagement with predictive analytics.
Publishing: Automate content creation for faster publication cycles.
Education: Efficiently generate educational materials.
Healthcare: Create accurate content for patients and professionals.
Finance: Produce timely financial content for decision-making.
Challenges and Ethical Considerations:
Transparency: Disclose AI use to maintain trust.
Bias: Address potential AI biases with diverse datasets.
SEO: Ensure AI content meets SEO standards.
Quality: Maintain high standards to prevent misinformation.
Conclusion:
AI-generated content offers significant benefits in efficiency, personalization, and scalability. However, ethical considerations and quality assurance are crucial for responsible use. Explore the future of content creation with us and see how AI is transforming various industries.
Connect with Us:
Follow Cut-The-SaaS on LinkedIn, Instagram, YouTube, Twitter, and Medium. Visit cut-the-saas.com for more insights and resources.
The digital marketing industry is changing faster than ever and those who don’t adapt with the times are losing market share. Where should marketers be focusing their efforts? What strategies are the experts seeing get the best results? Get up-to-speed with the latest industry insights, trends and predictions for the future in this panel discussion with some leading digital marketing experts.
For too many years marketing and sales have operated in silos...while in some forward thinking companies, the two organizations work together to drive new opportunity development and revenue. This session will explore the lessons learned in that beautiful dance that can occur when marketing and sales work together...to drive new opportunity development, account expansion and customer satisfaction.
No, this is not a conversation about MQLs and SQLs. Instead we will focus on a framework that allows the two organizations to drive company success together.
When most people in the industry talk about online or digital reputation management, what they're really saying is Google search and PPC. And it's usually reactive, left dealing with the aftermath of negative information published somewhere online. That's outdated. It leaves executives, organizations and other high-profile individuals at a high risk of a digital reputation attack that spans channels and tactics. But the tools needed to safeguard against an attack are more cybersecurity-oriented than most marketing and communications professionals can manage. Business leaders Leaders grasp the importance; 83% of executives place reputation in their top five areas of risk, yet only 23% are confident in their ability to address it. To succeed in 2024 and beyond, you need to turn online reputation on its axis and think like an attacker.\
Key Takeaways:
- New framework for examining and safeguarding an online reputation
- Tools and techniques to keep you a step ahead
- Practical examples that demonstrate when to act, how to act and how to recover
Most small businesses struggle to see marketing results. In this session, we will eliminate any confusion about what to do next, solving your marketing problems so your business can thrive. You’ll learn how to create a foundational marketing OS (operating system) based on neuroscience and backed by real-world results. You’ll be taught how to develop deep customer connections, and how to have your CRM dynamically segment and sell at any stage in the customer’s journey. By the end of the session, you’ll remove confusion and chaos and replace it with clarity and confidence for long-term marketing success.
Key Takeaways:
• Uncover the power of a foundational marketing system that dynamically communicates with prospects and customers on autopilot.
• Harness neuroscience and Tribal Alignment to transform your communication strategies, turning potential clients into fans and those fans into loyal customers.
• Discover the art of automated segmentation, pinpointing your most lucrative customers and identifying the optimal moments for successful conversions.
• Streamline your business with a content production plan that eliminates guesswork, wasted time, and money.
Digital marketing is the art and science of promoting products or services using digital channels to reach and engage with potential customers. It encompasses a wide range of online tactics and strategies aimed at increasing brand visibility, driving website traffic, generating leads, and ultimately, converting those leads into customers.
https://nidmindia.com/
Everyone knows the power of stories, but when asked to come up with them, we struggle. Either we second guess ourselves as to the story's relevance, or we just come up blank and can't think of any. Unlocking Everyday Narratives: The Power of Storytelling in Marketing will teach you how to recognize stories in the moment and to recall forgotten moments that your audience needs to hear.
Key Takeaways:
Understand Why Personal Stories Connect Better
How To Remember Forgotten Stories
How To Use Customer Experiences As Stories For Your Brand
Top 3 Ways to Align Sales and Marketing Teams for Rapid GrowthDemandbase
In this session, Demandbase’s Stephanie Quinn, Sr. Director of Integrated and Digital Marketing, Devin Rosenberg, Director of Sales, and Kevin Rooney, Senior Director of Sales Development will share how sales and marketing shapes their day-to-day and what key areas are needed for true alignment.
The Secret to Engaging Modern Consumers: Journey Mapping and Personalization
In today's digital landscape, understanding the customer's journey and delivering personalized experiences are paramount. This masterclass delves into the art of consumer journey mapping, a powerful technique that visualizes the entire customer experience across touchpoints. Attendees will learn how to create detailed journey maps, identify pain points, and uncover opportunities for optimization. The presentation also explores personalization strategies that leverage data and technology to tailor content, products, and experiences to individual customers. From real-time personalization to predictive analytics, attendees will gain insights into cutting-edge approaches that drive engagement and loyalty.
Key Takeaways:
Current consumer landscape; Steps to mapping an effective consumer journey; Understanding the value of personalization; Integrating mapping and personalization for success; Brands that are getting It right!; Best Practices; Future Trends
How to Use AI to Write a High-Quality Article that Ranksminatamang0021
In the world of content creation, many AI bloggers have drifted away from their original vision, resulting in low-quality articles that search engines overlook. Don't let that happen to you! Join us to discover how to leverage AI tools effectively to craft high-quality content that not only captures your audience's attention but also ranks well on search engines.
Disclaimer: Some of the prompts mentioned here are the examples of Matt Diggity. Please use it as reference and make your own custom prompts.
In this presentation, Danny Leibrandt explains the impact of AI on SEO and what Google has been doing about it. Learn how to take your SEO game to the next level and win over Google with his new strategy anyone can use. Get actionable steps to rank your name, your business, and your clients on Google - the right way.
Key Takeaways:
1. Real content is king
2. Find ways to show EEAT
3. Repurpose across all platforms
Monthly Social Media News Update May 2024Andy Lambert
TL;DR. These are the three themes that stood out to us over the course of last month.
1️⃣ Social media is becoming increasingly significant for brand discovery. Marketers are now understanding the impact of social and budgets are shifting accordingly.
2️⃣ Instagram’s new algorithm and latest guidance will help us maintain organic growth. Instagram continues to evolve, but Reels remains the most crucial tool for growth.
3️⃣ Collaboration will help us unlock growth. Who we work with will define how fast we grow. Meta continues to evolve their Creator Marketplace and now TikTok are beginning to push ‘collabs’ more too.
5 big bets to drive growth in 2024 without one additional marketing dollar AND how to adapt to the biggest shifting eCommerce trend- AI.
1) Romance Your Customers - Retention
2) ‘Alternative’ Lead Gen - Advocacy
3) The Beautiful Basics - Conversion Rate Optimization
4) Land that Bottom Line - Profitability
5) Roll the Dice - New Business Models
Digital Commerce Lecture for Advanced Digital & Social Media Strategy at UCLA...Valters Lauzums
E-commerce in 2024 is characterized by a dynamic blend of opportunities and significant challenges. Supply chain disruptions and inventory shortages are critical issues, leading to increased shipping delays and rising costs, which impact timely delivery and squeeze profit margins. Efficient logistics management is essential, yet it is often hampered by these external factors. Payment processing, while needing to ensure security and user convenience, grapples with preventing fraud and integrating diverse payment methods, adding another layer of complexity. Furthermore, fulfillment operations require a streamlined approach to handle volume spikes and maintain accuracy in order picking, packing, and shipping, all while meeting customers' heightened expectations for faster delivery times.
Amid these operational challenges, customer data has emerged as an important strategy. By focusing on personalization and enhancing customer experience from historical behavior, businesses can deliver improved website and brand experienced, better product recommendations, optimal promotions, and content to meet individual preferences. Better data analytics can also help in effectively creating marketing campaigns, improving customer retention, and driving product development and inventory management.
Innovative formats such as social commerce and live shopping are beginning to impact the digital commerce landscape, offering new ways to engage with customers and drive sales, and may provide opportunity for brands that have been priced out or seen a downturn with post-pandemic shopping behavior. Social commerce integrates shopping experiences directly into social media platforms, tapping into the massive user bases of these networks to increase reach and engagement. Live shopping, on the other hand, combines entertainment and real-time interaction, providing a dynamic platform for showcasing products and encouraging immediate purchases. These innovations not only enhance customer engagement but also provide valuable data for businesses to refine their strategies and deliver superior shopping experiences.
The e-commerce sector is evolving rapidly, and businesses that effectively manage operational challenges and implement innovative strategies are best positioned for long-term success.
The What, Why & How of 3D and AR in Digital CommercePushON Ltd
Vladimir Mulhem has over 20 years of experience in commercialising cutting edge creative technology across construction, marketing and retail.
Previously the founder and Tech and Innovation Director of Creative Content Works working with the likes of Next, John Lewis and JD Sport, he now helps retailers, brands and agencies solve challenges of applying the emerging technologies 3D, AR, VR and Gen AI to real-world problems.
In this webinar, Vladimir will be covering the following topics:
Applications of 3D and AR in Digital Commerce,
Benefits of 3D and AR,
Tools to create, manage and publish 3D and AR in Digital Commerce.
Mastering Local SEO for Service Businesses in the AI Era is tailored specifically for local service providers like plumbers, dentists, and others seeking to dominate their local search landscape. This session delves into leveraging AI advancements to enhance your online visibility and search rankings through the Content Factory model, designed for creating high-impact, SEO-driven content. Discover the Dollar-a-Day advertising strategy, a cost-effective approach to boost your local SEO efforts and attract more customers with minimal investment. Gain practical insights on optimizing your online presence to meet the specific needs of local service seekers, ensuring your business not only appears but stands out in local searches. This concise, action-oriented workshop is your roadmap to navigating the complexities of digital marketing in the AI age, driving more leads, conversions, and ultimately, success for your local service business.
Key Takeaways:
Embrace AI for Local SEO: Learn to harness the power of AI technologies to optimize your website and content for local search. Understand the pivotal role AI plays in analyzing search trends and consumer behavior, enabling you to tailor your SEO strategies to meet the specific demands of your target local audience. Leverage the Content Factory Model: Discover the step-by-step process of creating SEO-optimized content at scale. This approach ensures a steady stream of high-quality content that engages local customers and boosts your search rankings. Get an action guide on implementing this model, complete with templates and scheduling strategies to maintain a consistent online presence. Maximize ROI with Dollar-a-Day Advertising: Dive into the cost-effective Dollar-a-Day advertising strategy that amplifies your visibility in local searches without breaking the bank. Learn how to strategically allocate your budget across platforms to target potential local customers effectively. The session includes an action guide on setting up, monitoring, and optimizing your ad campaigns to ensure maximum impact with minimal investment.
2. What are Private Labels?
• Private Labels are Retailers own, control, and exclusively
sell store brands
• Private Label are a ‘Good Alternative’ to Other Brands,
Offering the Same Quality & Value
• Private labels are regarded as good Value for Money, and
Quality on Par with the Big Brands.
3. Journey of Private Labels
• The origin of private label can be traced back to the ‘60s and
‘70s where the offering was cheaper, generic products.
• In 1970’s they were in the form of black and white labelled
products.
• The major improvement in packaging was the first step in the
success of private label.
• Traditionally, private label products have focused on the low-
end price point. Now, some retailers will offer private label
products across multiple price points including a premium line.
• The popularity of private label is creating an additional
challenge to name brand producers who need to recover
expensive advertising and marketing costs.
4. Who Makes Private Label Products?
• Private label products are made by several types of
manufacturers.
• Some large brand manufacturers use their excess
capacity and expertise to produce private label products.
• These products may be sold into food service venues or
retail locations.
5. National Brands vs. Private label
• Manufacturer (National) Brands
• Designed, produced, and
marketed by a vendor and sold
by many retailers
• Private-Label (Store) Brands
• Developed by retailer and only
sold in retailer’s outlets
6. Spectrum of
National vs. Private Label
The Gap
Limited
Marks &
Spencer
IKEA
Home Depot
% Store
Brands
National
Brands
Macy’s
Target
7. Relative Advantages of
National Brands versus Private Brands
Type of Vendor
Impact on Store National Private-Label
Brands Brands
Store loyalty ? +
Store image + +
Traffic flow + +
Selling and promotional + -
expenses
Restrictions - +
Differential advantages - +
8. Private Labels
Advantages
• Unique merchandise not
available at competitive
outlets
• Difficult for customers to
compare price with
competitors
• Higher margins
Disadvantages
• Need to develop expertise
in developing and
promoting brand
• Typically less desirable for
customers
9. National Brands
Advantages
• More desired by customers
• Don’t need skills and people
to develop and promote
merchandise
Disadvantages
• Lower margins
• Vulnerable to competitive
pressures
13. Private Label Options
• Bargain Branding
• no-frills product at a discount price.
• Copycat Branding
• imitates the manufacturer brand in appearance and trade dress
• Premium Branding
• private label at a comparable manufacturer-brand quality.
• Parallel Branding
• private labels that closely imitate the trade dress and product
attributes of leading manufacturer brands.
16. Some Categories More Suitable than
Others
• Categories preferred for Private Labels
• Dog food
• Kitchen towels
• Sugar
• Flour
• Paper products
• Plastic wraps
• Water
• Rice and cooking products
• Categories less preferred for Private Labels
• Shampoo
• Baby food
• Pasta sauce
17. Preference of Private Labels
• Two thirds of global consumers consider supermarket
own, or ‘Private Label’, brands to be a good alternative to
other brands
• The market shares of store brands vary by product class
and across countries
• Global average who considers Supermarket Own Brands
as a good alternative to other brands – 68%
• Europe: 78%
• the Pacific: 78%
• North America: 77%
• South Africa: 72%
• Latin Americans: 64%
• Asia: 51%
18. Store brand market share in some other countries
41
29
24
22
20
12
0
5
10
15
20
25
30
35
40
45
Switzerland Canada Spain
Store Brand
Market
Share
19. Private Labels in Hong Kong
Private label brands still have a long way to go in
Hong Kong
The 17% growth of private label brands in Hong Kong in
2011 is way below Asian peers.
20.
21. Benefit to Consumers
• Good Alternative to name brands
• Quality as good as name brands
• Good value for money
• Good for people on tight budgets who can’t afford the best
• The cost savings for the typical consumer is large
22. Benefit to Retailers
• Significantly bigger margin on those sales.
• Significant source of additional profitability.
• Gives the retailer the flexibility to more easily align a
specific customer need with a specific product.
• The packaging and labels can be custom tailored to meet
customer needs
• Allows more control over pricing strategies.
• Gives freedom for retailers to create their own marketing
plans and to control their own inventory in stock.
• Promote stronger customer loyalty toward retailer store.