As a supermarket manager, how would you go about evaluating the criticalness of inventory shortages?
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As a supermarket manager, how would you go about evaluating the criticalness of inventory shortages?
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- explain the best approach for a balanced marketing strategy. Consider key supply chain aspects to add into the marketing mix (product, pricing, placement, and promotion) to prevent stockout and / or inventory surplus.With the use of examples, explain to your colleagues in the buying department any (12) SIX criteria that they need to consider when selecting fruit and vegetable suppliers.Provide a Comprehensive evaluation of the rationale for food retailers using short-term forecasting methodologies to gauge consumer demand for sustainable products and items with a limited shelf life. NB: Your answer should have Introduction, discussion and conclusion.
- Table: Factors causing the decline in sales Factors % Contribution Delayed deliveries 15% Lack of delivery personnel 8% Inaccurate sales orders 25% Wrong deliveries 32% Delayed invoicing 6% Pilferage 7% Expired items 7% a. Following the Pareto Principle, what are the vital factors or main contributors to the decline in sales? Show your Pareto Chart and indicate or label the vital factors or contributors to the problem. Hint: know the vital few % b. What are the vital factors or vital contributors to the problem? c. If the sales and marketing manager wants to reduce the impact of vital factors or contributors by 70%, what will be a good GOAL Statement to improve his sales problem? Hint: Use SMART GOALIf a merchandising company has a beginning inventory of $400,000 and an ending inventory of$200,000, and the company purchased $1,600,000 of inventory during the month, what is the company’s cost of goods sold?explain why you would be more likely to purchase thisproduct online or at a physical retailer in the future.
- One major reason for undertaking marketing research is to identify market opportunities. Once the research is complete, the company must measure and forecast the size, growth, and profit potential of each market opportunity. With regards to the above information examine how demand can be estimated in a market.In the current competitive retail business, traditional brick-mortar business model has slowly lost out to e-commerce. When trading is done online, it's important to understand customer buying patterns. In return, the ability to predict this pattern into potential marketing solutions to increase sales and profit. Business owners need to know their customers and understand their needs and behaviors. In current business settings, customers purchasing patterns are recorded within big data. Big data when adequately used serve good and formidable business competitive advantage. To do this, retailers use a technique called market basket analysis. Market basket analysis consists of analyzing large data sets that include purchase history, revealing product groupings, and products that are likely to be purchased together. The simulated case (see table 1) below illustrates a retail purchasing pattern for garments collected over 19 cluster retails. The recorded purchasing combination serves to…Why should a retailer be concerned with building a sustainable competitive advantage? a. The competition's advantage will stimulate the retailer's market b. It could result in long-term profitability O c. It is the final step in developing the retail strategy d. It could affect merchandise planning e. They should not as other retailers would just duplicate the efforts
- Even though Hallmark (www.hallmark.com) cards, gifts, and other related goods are sold at 43,000 retail outlets in more than 100 countries throughout the world, the greatest selection of Hallmark products can be found in Hallmark's 3,500 independently owned Hallmark Gold Crown stcres and in Hallmark's close to 500 company-owned stores. A key element of Hallmark's customer data base and overall mar- keting efforts is its Crown Rewards loyalty program. About 14 million customers participate in this program. According to Jay T. Dittman, Hallmark's vice-president for marketing strategy, "At corporate we provide insight that turms data- base information technology into marketing programs." Prior to shifting to its current SAS Enterprise Intelligence Platform in 2007, Hallmark had to perform several steps before its data base could be used for marketing strategy development and analysis. Data had to be downloaded from a mainframe to a server and then imported into Microsoft Access. Then…Even though Hallmark (www.hallmark.com) cards, gifts, and other related goods are sold at 43,000 retail outlets in more than 100 countries throughout the world, the greatest selection of Hallmark products can be found in Hallmark's 3,500 independently owned Hallmark Gold Crown stcres and in Hallmark's close to 500 company-owned stores. A key element of Hallmark's customer data base and overall mar- keting efforts is its Crown Rewards loyalty program. About 14 million customers participate in this program. According to Jay T. Dittman, Hallmark's vice-president for marketing strategy, "At corporate we provide insight that turms data- base information technology into marketing programs." Prior to shifting to its current SAS Enterprise Intelligence Platform in 2007, Hallmark had to perform several steps before its data base could be used for marketing strategy development and analysis. Data had to be downloaded from a mainframe to a server and then imported into Microsoft Access. Then…Design a Marketing Information System for an organisation of your choice. Select the components of the System that in your opinion are the most desirable for the organisation you have selected.