Retail buying covers broad areas such as organization of retail establishments, distribution, roles of buying groups, planning and control, choosing vendors, negotiation, pricing, and selling of goods and services to the consumer.
Book Details:
- Author: R. Patrick Cash
- ISBN: 9780471723257
- Year Published: 2006
- Pages: 288
- BISAC: BUS057000, BUSINESS & ECONOMICS/Industries / Retailing
About the Book and Topic:
Retail buying covers broad areas such as organization of retail establishments, distribution, roles of buying groups, planning and control, choosing vendors, negotiation, pricing, and selling of goods and services to the consumer.
Buying is the business of choosing. Retail buyers focus on choosing those products that he or she thinks will staisfy the demands of a particular group of consumers, who were also carefully chosen. The ultimate goal in the buying process is to turn a target group of consumers inot loyal customers through effective buying decisions.
Coverage includes: How to research customer demographics Determining customer wants and needs Planning the inventory for the sections or departments of the store Finding the items that best fit the customers wants and needs Negotiating with vendorsmanufacturers, wholesale distributors, importing companies, and so onto purchase the items Getting the goods through U.S. Customs, if necessary Transporting the items from source to store at the least cost Pricing the items in ways that are both fair for the customer and profitable for the store Helping to train and motivate the sales force Working with the sales and advertising departments to jointly promote the goods and attract customers Deciding when to reduce the prices to move slow-selling items or highlight new ones.
About the Author
R. Patrick Cash and Chris Thomas are the authors of Management of Retail Buying, published by Wiley.