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CHAPTER 5/6: LOCATION, CHAPTER 12: BUYING MERCHANDISE, CHAPTER 7:…

- - - - Traffic flow and accessibility, natural and artificial barrier -exp: elak kawasan banjir
      - Location characteristics (parking, visibility, adjacent tenants) -dekat mana nak parking - buka kedai dekat tempat yang parking banyak, orang nampak ke tak kedai kita. -adjacent tenants- dalam mall,orang gi kedai makan lepastu kemungkinan dia pergi kedai sebelah
      - Restrictions and costs (lease agreement) -berapa sewa, berapa kena bayar
      - Locations within a shopping center (strip shopping center: near to supermarket, multilevel-enclosed shopping center: near the department store anchors, how to locate stores that appeal to similar target market: position into category zones)
  - - - Trade area is a contiguous geographic area that accounts for the majority of a store’s sales and customers
      - It can be divided into three zones: 1) the 5-minute drive-time zone; 2) the 10-minute drive time-zone; 3) the 15-minute drive time-zone. -tengok berapa orang boleh datang
      - The actual boundaries of a trade area are determined by the store’s accessibility, natural and physical barriers, and level of competition.
  - - - The Huff gravity model – consumers are attracted to a store location. The force of attraction is based on two factors: 1) the size of the store, 2) the time it takes to travel to the store -size store besar ke kecik, berapa lama masa untuk someone datang ke kedai. -those who stay 5 or 10min to go store , semakin banyak sales yang akan dapat
      - Regression analysis – based on the assumption that factors that affect the sales of existing stores in a chain will have the same impact on stores located at new sites being considered. -assume that your store will get same sales as the store that same like you
      - The analog method – steps involved: 1) do a competitive analysis, 2) define present trade area, 3) analyse trade area characteristics, 4) match characteristics of present trade area with potential sites. -tengok berapa ramai pesaing, berapa besar trade area,
- - - - Percentage lease (rent is based on percentage of sales, the retailer typically pay maintenance fee)
      - Percentage lease with a specified maximum
      - Percentage lease with a specified minimum
      - Sliding case lease (percentage of sales paid as rent decreases as the sales goes up)
    - - Fixed rate lease (rent is a fixed amount per month over the life of lease)
      - Graduated lease (rent increase by a fixed amount over a specified period of time)
      - Maintenance-increase-recoupment lease (can be used with percentage or fixed-rate lease, but landlord can increase the rent if insurance, property taxes, or utility bills increase beyond a certain point)
  - - - Contenancy clause – requires certain percentage of a shopping center be leased, while others name specific retailers or types of retailers that are to remain open (marketing executive akan senaraikan store yang akan ada dalam satu mall)
      - Prohibited-use clause – prohibit landlord from leasing to certain kind of tenants - owner bagitahu specific brand takkan ada dalam satu mall, taknak -the landlord will put certain brand inside the agreement that they will not allowed specific tenants to rent inside mall
      - Exclusive-use clause – prohibit landlord from leasing to retailers that sell competing products -hanya membenarkan brand awak sahaja yang ada dalam store tu
- - - - Unique merchandise not available at competitive outlets
      - Exclusivity boosts store loyalty
      - Difficult for customers to compare price with competitors
      - Higher margins
  - - - Help retailers build their image and traffic flow
      - Reduces selling and promotional expenses
      - More desired by customers
      - Customers patronize retailers selling the branded merchandise
      - Push some of the financial risk onto the vendor
- - - - Markdown money
        Funds from a vendor to a retailer to cover decreased gross margin from markdowns
    - - A charge imposed by a retailer to stock a new item (in supermarkets)
        
        For Retailers
        
        To ensure efficient uses of their valuable space
        
        To determine which new products merit inclusion in their assortment
        
        Manufacturers view them as extortion
- - - - Less costly than a pull supply chain
      - Less sophisticated information system needed to support it
      - Efficient for merchandise that has steady, predictable demand
  - - - Less likely to be overstocked or out of sock
      - Increases inventory turnover
      - Responsive to changes in customer demand
      - Efficient when demand is uncertain, and hard to forecast
- - - - Manufacturer access to POS information
      - Replenishment automatically triggered
      - Enables demand-based view of replenishment & production planning – reduce bull whip effect
  - - - Developed by VICS and adopted by ECR Europe
      - The sharing of forecast and related business information and collaborative planning between retailers and vendors to improve supply chain efficiency and product replenishment.
      - The most advanced form of retailer-vendor collaboration that involves sharing proprietary information, such as business strategies, promotion plans, new product developments and introductions, production schedules, and lead time information.
- - - - Delays in transmitting orders and receiving merchandise
        
        Over-reacting to shortages
        
        Ordering in batches rather than generating a number of small orders
- - - - Occasional sales – but not as frequent as high/low pricing retailers
      - Continuity of retail price-somewhere between the regular nonsale price and the deep-discount sale price of high/low retailers.
      - Los-price guarantee policy
      - Hari-hari harga rendah, so promotion tak dilakukan secara kerap
- - - - Sell to another retailer
      - Consolidate unsold merchandise
      - Sell at internet auction
      - Donate to charity
      - Carry the merchandise to the next season
- - - - Promotional markdowns – markdowns for holidays, special events, promotional program. To promote merchandise and increase sales. -purposely develop by retailer to promote merchandise and increase sale
        
        Clearance markdowns – Fashion-conscious customers have high willingness to pay because they want to be the first to wear the latest fashions: pay higher price. Price-sensitive customers wait to buy the merchandise at the end of the season when prices are lower. - to clear the stock
        
        Coupons– issued by the retailers in many mediums, offers discounts on the price of specific items when they are purchased.
        
        Price bundling– offer two or more different products or services for sale at one price -retailer try to sell product, combine together and then sell it at cheaper price -exp: MCD, jual burger,fries, air sekali
        
        Multiple unit pricing – offer two or more similar products or services for sale at one lower total price - barang sama jual dengan harga murah
- - - - Job analysis
      - Job description
      - Locating prospective employees
      - Screening applicants
      - Selecting applicants
  - - - Orientation programs
      - Structured program
      - On-the-job training
      - Blended approach
  - - - Extrinsic reward
      - Intrinsic reward
      - Compensation program (straight salary, straight commission, salary plus commission, and quota-bonus)
- - - - Tailor services to meet each customer’s personal needs
      - The effectiveness relies more on sales associates, “personalization”
      - RFID technology
      - Recommendation engines coupled with a database of customer transactions