1.
PLANNING
2.
PROCURING
3.
PURCHASING
4.
PRICING
5.
PLACING
6.
PUSHING
7.
PROMOTING
8.
PROMISHING
9.
PERFORMING
10.
PERUSING
the Management skills which are
must to manage retail sales are as follows:-
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1
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SKU CONTROL
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: Any person managing the retail sales must have knowledge of total
nos. of SKU of all the different categories in which he is serving. Also Top
10/30 SKU’s of each department should also be monitored continuously.
|
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2.
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VENDOR MIX/ SALES MIX
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: The
performance of products of different vendors should be monitored regularly.
He advised to always monitor following reports to analyze the sales
performance:
v
RANGE VISE SALES/ STOCK MIX.
v VENDOR
VISE SALES/ STOCK MIX.
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3.
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BRAND CONTROL
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: Branded products should always controlled and in a store it should not
be less than 7 brands and more than
13brands.
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4.
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SIZE MIX
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: For readymade garments / under garments/ foot wear the Range of size
should be monitored and the stock of common sizes which are being sold in
majority should be always available.
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5.
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CATEGORIES
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: Published data of market share of different product categories are
available on the net, it should be checked and product categories and its
stock level should be maintained accordingly. Also the market share data can
also be calculated on the basis of common sense.
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6.
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MARKETING ENVOIREMENT
|
: Basic fundas of this point are as below:
1. Supply
and Demand
2. Import
/ Export Policy
3. Taxation
Structure
4. Legal
Restrictions
As per the location of the store and the products in which you are
serving, the above points should be monitored.
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7
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MARKET CULTURE/ PRACTICES
|
: For purchasing of the
different product segments there is different market culture which varies
from city ot city. Like some markets sale there products through Dalal only.
The credit policy also varies from
market to market.
|
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8.
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SUGGESTIVE SELLING
|
: Some products can be easily sold by expression of commodity with
alternate name. As per the situation it should be adopted.
|
He further elaborated some important parameters of Retails Sales as
follows:
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PARAMETER
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1st
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2nd
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3rd
|
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1.
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SALES/ SQ. FT.
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3000
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2250
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1500
|
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2.
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PER PERSON SALE
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4.00
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3.00
|
2.00
|
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.
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STOCK ROTATION
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6
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5
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4
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Point for reference:
Manufacturer makes commodity as Brand and Retailer makes Brand as commodity.
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