With crisp and insightful contributions from 47 of the world’s leading experts in various facets of retailing, Retailing in the 21st Century offers in one book a compendium of state-of-the-art, cutting-edge knowledge to guide successful retailing in the new millennium. In our competitive world, retailing is an exciting, complex and critical sector of business in most developed as well as emerging economies. Today, the retailing industry is being buffeted by a number of forces simultaneously, for example the growth of online retailing and the advent of ‘radio frequency identification’ (RFID) technology. Making sense of it all is not easy but of vital importance to retailing practitioners, analysts and policymakers.
This work examines the topic of EDLP versus Hi-Lo pricing strategies in retailing. Based on a comprehensive conceptual examination of pricing strategies in retailing, the author conducted two large-scale empirical studies about the impact of the retailer's pricing strategy on store performance.
This Advanced Introduction explores strategies of pricing products (goods and services) that can be employed by a firm. The analytical techniques and data necessary for implementing the pricing strategies are described in an easy-to-understand manner, along with examples. Pricing strategies covered include cost-plus, reference value pricing, product line pricing, pricing product bundles, pricing over time, pricing under competition, and subscription pricing.
Retailing is one of the biggest and most important sectors in today's economy. Graduates who are seeking a career in the sector will therefore require a solid knowledge of its core principles. The Principles of Retailing Second Edition is a topical, engaging and authoritative update of a hugely successful textbook by three leading experts in retail management designed to be a digestible introduction to retailing for management and marketing students. The previous edition was praised for the quality of its coverage, the clarity of its style and the strength of its sections on operation and supply chain issues such as buying and logistics, which are often neglected by other texts. This new edition has been comprehensively reworked in response to the rapid changes to the industry, including the growth of online retail and the subsequent decline of physical retail space and new technologies that improve customer experience and help track consumer behaviour. It also builds upon the authors' research over the last decade with new chapters on offshore sourcing and CSR and product management in addition to considerable revisions to existing chapters to highlight changes in online retailing and e-tail logistics, retail branding, retail security, internationalisation and the fashion supply chain. This edition will also be supported by a collection of online teaching materials to help tutors spend less time preparing and more time teaching.
The world’s foremost expert on pricing strategy shows how this mysterious process works and how to maximize value through pricing to company and customer. In all walks of life, we constantly make decisions about whether something is worth our money or our time, or try to convince others to part with their money or their time. Price is the place where value and money meet. From the global release of the latest electronic gadget to the bewildering gyrations of oil futures to markdowns at the bargain store, price is the most powerful and pervasive economic force in our day-to-day lives and one of the least understood. The recipe for successful pricing often sounds like an exotic cocktail, with equal parts psychology, economics, strategy, tools and incentives stirred up together, usually with just enough math to sour the taste. That leads managers to water down the drink with hunches and rules of thumb, or leave out the parts with which they don’t feel comfortable. While this makes for a sweeter drink, it often lacks the punch to have an impact on the customer or on the business. It doesn’t have to be that way, though, as Hermann Simon illustrates through dozens of stories collected over four decades in the trenches and behind the scenes. A world-renowned speaker on pricing and a trusted advisor to Fortune 500 executives, Simon’s lifelong journey has taken him from rural farmers’ markets, to a distinguished academic career, to a long second career as an entrepreneur and management consultant to companies large and small throughout the world. Along the way, he has learned from Nobel Prize winners and leading management gurus, and helped countless managers and executives use pricing as a way to create new markets, grow their businesses and gain a sustained competitive advantage. He also learned some tough personal lessons about value, how people perceive it, and how people profit from it. In this engaging and practical narrative, Simon leaves nothing out of the pricing cocktail, but still makes it go down smoothly and leaves you wanting to learn more and do more—as a consumer or as a business person. You will never look at pricing the same way again.
This book is devoted to the dynamic development of retailing. The focus is on various strategy concepts adopted by retailing companies and their implementation in practice. This is not a traditional textbook or collection of case studies; it aims to demonstrate the complex and manifold questions of retail management in the form of twenty lessons, where each lesson provides a thematic overview of key issues and illustrates them via a comprehensive case study. The examples are all internationally known retail companies, to facilitate an understanding of what is involved in strategic retail management and illustrate best practices. In the third edition, all chapters were revised and updated. Two new chapters were added to treat topics like corporate social responsibility as well as marketing communication. All case studies were replaced by new ones to reflect the most recent developments. Well-known retail companies from different countries, like Tesco, Zalando, Hugo Boss, Carrefour, Amazon, Otto Group, are now used to illustrate particular aspects of retail management.
Showcasing fuzzy set theory, this book highlights the enormous potential of fuzzy logic in helping to analyse the complexity of a wide range of socio-economic patterns and behaviour. The contributions to this volume explore the most up-to-date fuzzy-set methods for the measurement of socio-economic phenomena in a multidimensional and/or dynamic perspective. Thus far, fuzzy-set theory has primarily been utilised in the social sciences in the field of poverty measurement. These chapters examine the latest work in this area, while also exploring further applications including social exclusion, the labour market, educational mismatch, sustainability, quality of life and violence against women. The authors demonstrate that real-world situations are often characterised by imprecision, uncertainty and vagueness, which cannot be properly described by the classical set theory which uses a simple true–false binary logic. By contrast, fuzzy-set theory has been shown to be a powerful tool for describing the multidimensionality and complexity of social phenomena. This book will be of significant interest to economists, statisticians and sociologists utilising quantitative methods to explore socio-economic phenomena.
'Finally, a frog who knows how to put retail back on the map!' Retail Rebranded lets you in on the secrets big retailers dont want you to know in 5 key steps of how to reassess, reposition, rename, redesign and relaunch your brand to capture market share and compete in the contemporary global economy. It pushes you to adapt your business and starts a fire in your belly that makes you want to win against the big guys. Revolutionising the irrelevant business models of the past, this is an action-packed, engaging and easy-to-read retail bible that will put your brand back on the map! This book is filled with sage advice that will help Australian retail business get ahead an incredibly competitive marketplace. Angie Bell is right, small businesses are the lifeblood of our economy it is not the size of a business that matters anymore, but the way the business approaches the new economic reality with creative solutions to modern day challenges. Joe Hockey Treasurer, Commonwealth of Australia Since 2010, Angie has been the key driver for our Visual Merchandising project for 120 stores with amazing results. Our stores have had increases in category sales up to 60% in some cases due to the layout and in-store direction she has given. I have no hesitation in seeking her advice or recommending her services. Mark Sutton-General Manager, Paint Place Group of Stores, Australia Inspiring and informative! A timely aid for the sector and a must read for every retailer. Trevor Evans-CEO National Retail Association (NRA)
The increasing interconnection and the unlimited exchange of data and information has led to a maximized transparency of globally offered and sold products and services. The desires, needs and wants of the consumer are the critical issues today in creating new or offering existing products and services. This book outlines successful marketing and sales strategies with a clear focus on practical relevance. It provides a systematic overview and description of selling, pricing and negotiation concepts which enable the reader to apply the best-case scenario in their company. Tools such as the marketing mix or marketing strategies are well explained for practical application in industry. The book also integrates elements of change, lean and innovation management as drivers for performance excellence. Featuring industry case studies, this book is a practical guide for marketing professionals, academics and policy makers to enable enterprises to achieve long-term competitive advantages through best-in-class marketing, sales and pricing activities.
Written by a leading pricing researcher, Pricing Strategies makes this essential aspect of business accessible through a simple unified system for the setting and management of prices. Robert M. Schindler demystifies the math necessary for making effective pricing decisions. His intuitive approach to understanding basic pricing concepts presents mathematical techniques as simply more detailed specifications of these concepts.
