Sales Management
List 3 stages of Sales Planning
1. Sales Plan Formulation
2. Sales Plan Implementation
3. Evaluation and control of sales force
Market segment towards which the retailer plans to focus its resources and retail mix.
Target market
A store that provides a limited variety and assortment of merchandise at a convenient location with speedy checkout.
Convenience store.
Areas within a store that are designed to get customers’ attention.
Feature areas.
Equipment used to display merchandise.
Fixture.
List the characteristics of personal selling
Impact
Precision
Cultivation
Cost
Enclosed, climate-controlled, lighted shopping centers with retail stores on one or both sides of an enclosed walkway. Parking is usually provided around the perimeter.
Shopping mall.
A store that concentrates on a limited number of complementary merchandise categories and provide a high level of service, offer deep but narrow assortments to appeal to very specific market segments (apple, urban, sephora)
Specialty store
Three most common layout types.
Grid (straight), Racetrack (loop), Free-form (boutique,free-flow).
Name at least 3 types of fixtures used for visual merchandising in stores.
Straight rack, Rounder, Four-way fixture, Gondola , Table , Wall-fixture
What does a sales manager do ? (8 functions)
1. Prepares budget
2. Sets goals and objectives
3. Estimates demand and sales
4. Determines sales force size
5. Recruits selects and trains
6. Designs territories/setting quotas
7. Compensates, motivates and leads
8. Evaluates performance.
A major retailer within a shopping centre, such as Macy's, Walmart (Macro, Home Market) that attract a significant number of consumers and consequently make the centre more appealing for other retailers.
Anchor store.
They offer an inconsistent assortment of brand-name merchandise at a significant discount off the manufacturers’ suggested retail price (MSRP). America’s largest chains includes T.J.Maxx and Marshalls, Winners, HomeGoods, TKMaxx, AJWright, and HomeSense, Ross Stores, Burlington Coat Factory, and Big Lots.
Off-price retailers, also known as closeout retailers.
Name at least 5 feature areas that may be used to influence the buying behaviour of consumers?
Windows, Entrance, Promotional aisle/area, walls, dressing rooms, Free-standing displays, Mannequins, End Caps, cash wraps
Name at least 4 presentation techniques.
Item and size presentation, colour presentation, price lining, vertical merchandising, tonnage merchandising, frontal presentation