MBA Direct Admission in Retail at Top Colleges
A process of promoting greater sales and customer satisfaction by gaining a better understanding of the consumers of goods and services produced by a company for MBA direct admission in retail at top colleges because in this type of management the manager overlooks all buying, selling related to all kinds of services so that customers will attract more in their services and they will earn profit in their businesses. In this article we discussed about how merchandising work and how we can do profit in business.
For Details Contact Ace1Guru on 09742479101 (Ankit Mishra), 09742886036 (Anis), 09035556036 (Mayur Gautam) or you can also send us or visit www.direct-mba.com for further details.
How trade helps in business?
( MBA Direct Admission in Retail at Top Colleges )
- The retailer must keep a record of all the products coming into the store.
- The products must be well arranged on the assigned shelves according to size, patterns etc.
- To Plan the store layout well.
- The range of products available at the store must be divided into small groups comprising of similar products. Such groups are called categories. A customer can simply walk up to a particular category and look for products without much assistance.
- Necessary labels must be put on the shelves for the customers to locate the merchandise on their own.
- Not to keep the customers waiting.
- To make sure the sales representatives attend the customers well and assist them in their shopping as well as greet them with a smile
- The retailer must ensure enough stock is available at the store.
To make sure the store is kept clean. Don’t stock unnecessary furniture as it gives a cluttered look to the store. The customers must be able to move freely.
- The store manager, department managers, cashier and all other employees should be trained from time to time to extract the best out of them. They should be well aware of their roles and responsibilities and customer oriented. They should be experts in their respective areas.
- The store manager must make daily sales reports to keep a track of the cash flow. Use software’s or maintain registers for the same.
- To remove the unsold merchandise from the shelves. Keep them somewhere else.
- To create an attractive display.
- To plan things well in advance to avoid confusions later on.
- To ask the customers to produce bills in case of exchange. Assign fixed timings for the same. Don’t entertain customers after a week.
For Details Contact Ace1Guru on 09742479101 (Ankit Mishra), 09742886036 (Anis), 09035556036 (Mayur Gautam) or visit www.direct-mba.com for further details.
Working procedure of retail managers:
( MBA Direct Admission in Retail at Top Colleges )
- A retailer performs the dual functions of buying and assembling of goods. The responsibility of a retailer is to identify the most economical source for obtaining the goods from the suppliers and passing on the advantages to the consumer. MBA Direct Admission in Retail at Top Colleges
- The retailers perform the functions of warehousing and storing. They store the goods in bulk and make them available as per the requirement of the consumer. Warehousing and store keeping helps in ensuring uninterrupted availability of the goods to the consumers. MBA Direct Admission in Retail at Top Colleges
- The primary function of a retailer is selling the products to the customers for which various techniques or business practices are being adopted by the retailer to achieve the strategic goals. MBA Direct Admission in Retail at Top Colleges
- The prime focus of a retailer is on maximizing customer satisfaction by delivering quality products and services both on cash as well as credit basis. As a result of which, retailer always runs the risk of accumulating bad debts on account of non-payment of the amount from the consumer. MBA Direct Admission in Retail at Top Colleges
- A retailer needs to have robust risk management capabilities. Various kinds of risks can be involved in a business which a retailer should be well prepared with like loss or damage of the products due to deterioration in quality, perishability or spoilage. A change in customer’s buying preferences or tastes can also affect the business to a great extent, or even the products may be damaged due to the natural calamities or vagaries of nature. MBA Direct Admission in Retail at Top Colleges
- A retailer performs the crucial function of grading for all those goods which at times are either left ungraded by the wholesalers or manufacturers so that the customers readily accept the goods. The retailer is responsible for the packing of goods in small packages or small containers for the customer’s convenience. MBA Direct Admission in Retail at Top Colleges
For Details Contact Ace1Guru on 09742479101 (Ankit Mishra), 09742886036 (Anis), 09035556036 (Mayur Gautam) or visit www.direct-mba.com for further details.
Best Services provided by a retailer:
( MBA Direct Admission in Retail at Top Colleges )
There are two types of services provided by retailer:
- To Customers:
( MBA Direct Admission in Retail at Top Colleges )
- A Retailer ensures ready stock availability of goods for the customers in sufficient quantities and sells the goods to the customers as per their quantity specifications.
- A retailer ensures availability of a wide variety of choices of products for the customers by keeping different varieties at various prices and also different brands as well.
- A retailer can provide credit facilities and heavy cash discounts on the purchase of different products to the customers.
- To Wholesalers:
( MBA Direct Admission in Retail at Top Colleges )
Retailers are a valuable source of information and feedback for the wholesalers who in turn pass on the same information to the producers of the products. MBA Direct Admission in Retail at Top Colleges
Crucial information related to the changes in the buying preferences of the customers, their experience with the usage of the products, feedback on the prices and quality of the products is passed on to the wholesalers. MBA Direct Admission in Retail at Top Colleges
This helps in improving the existing services and in customizing the product solutions as per the requirements of the customers. MBA Direct Admission in Retail at Top Colleges
- A retailer absorbs most of the burden of the wholesaler and also of the manufacturer by selling the goods in small quantities to the customers. The wholesalers are relieved from the burden of maintaining touch with the customers and managing the entire gamut of activities involved in convincing the customers for purchasing their products.
- Retailer supports the wholesaler by acting as a channel for distributing the goods to the customers.
For Details Contact Ace1Guru on 09742479101 (Ankit Mishra), 09742886036 (Anis), 09035556036 (Mayur Gautam) or visit www.direct-mba.com for further details.