Retail Strategies That Work

When i consult with retailers across the country I Situs Slot Gacor often find that they do not have solid retail strategies in place. Perhaps they don’t understand the importance of the process or maybe they have simply not taken the time to formulate their plan. Whatever the reason, the oversight is costing them both business and profit.

The retail process is simple: you buy merchandise at one price, sell it at a higher one (hopefully), deduct your expenses and what you have left is your profit. The execution of this simple process is not simple however, but instead complex and demanding. A retail strategy can help provide day to day operational direction.

Step one in developing a retail strategy is targeting a particular customer profile–an ideal customer. I often compare targeting an ideal customer group to baiting a trap to attract a particular animal. In either scenario, you must know exactly who (or what) you want to attract in order to know what bait you should use.

Once you have identified your ideal customer, you will have a better idea what products you should be buying, what type of environment you should create to display the items, and what forms of advertising will be most effective in reaching this important target group. Remember your store will not appeal to everyone–no store does. It makes sense, therefore to know who (what group) would best serve your efforts.

Once you have completed this process, you must then identify the slot within which your store operates. Regardless of your product offering your store operates as either a destination store, a regional competitor, a product driven niche store, a price driven niche store a convenience store or a combination of these store-slot types. There is not sufficient space in this article to fully explain store slotting but suffice it to say that knowing how your store fits into the arena within which it operates is critical to your success. This knowledge can help guide your hours of operation, pricing strategies, staffing requirements and other important managerial considerations.

Philip H. Mitchell is the author of Discovery-Based Retail. His book has been endorsed by Scott Wright of the North american Retail Hardware Association, Art Brown of the Mid-American Lumberman’s’ association and other industry experts. Philip is also one of the founding partners of a retail consulting company of the same name, Discovery-Based Retail. His company works with retailers, both small and large, helping them enhance their profitability by improving their customer interface. Their company also specializes in improving the production of the entire salesspace and designs floorplans to accomplish this. The business of wireless data is expected to grow in the region of 100-200 % per annum and the mobile communication industry agrees that wireless data services will form the foundation for future business. The enormous success of short messaging in many countries proves that people accept the benefits of non-voice services.

Enhanced Data Rate for Global Evolution (EDGE) is a technology that gives Global Systems for Mobile Communications (GSM) the capacity to handle services for the third generation of mobile telephony. It provides three times the data capacity of General packet Radio Service (GPRS). Using EDGE, operators can handle three times more subscribers than GPRS; triple their data rate per subscriber, or add extra capacity to their voice communications.

This article provides an overview of EDGE technology. In particular, starting from the introduction of this 2. 5G technology I describe the core technical aspects and distinct features. I will provide a comparison with GPRS for data services and then a survey of the current state of this technology in Pakistan. I have also covered some benefits for operators and customers.

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