London Training For Excellence
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Module 1 - Introduction – Retail Marketing overview
- Structure of the marketing and buying functions in retailing
- Who does what?
- What are the skills and knowledge required?
- How the market leaders are organized
- Sectors of the market and corporate objectives
- Customer profiling
- The 4-way analysis as a means of improving performance
- Brands and brand management
Module 2 - Approaches to Stock Control
- Divisions of the inventory.
- Methods of stock control.
- Who needs what information and how to obtain it.
- Outcomes from stock information – and decisions to take.
- Range rationalization and product life cycles.
- Sales forecasting techniques.
- Measuring productivity of stock investment.
- Pricing techniques – and effects on rate of stock turn.
- Monitoring component parts of the stock assortment.
Module 3 - Financial performance and pricing
- Financial stock control – sales and profits.
- Methods of setting the selling price.
- Managing the profit margin – effects of trading costs and markdowns.
Module 4 - Range Planning
- Budgeting for the purchase allowance.
- How to decide on the range and individual lines to stock.
- Building the range strategy.
- Model stock plans.
- Range presentation exercise.
- Product liability and safety issues.
- Ethical relationships with customers.
- Dealing with suppliers – collaborative or competitive relationships.
- Visualizing the merchandise range presentation.
Module 5 - Negotiating with suppliers
- Basic principles in setting up a partnership.
- When, where and how to negotiate.
- Setting the agenda.
- Targets for negotiation.
- Linking issues.
- Structure for a negotiation.
- Evaluating the negotiation.
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