How retailers can gain deeper insights into their true position--and choose the right strategies for a marketplace that won’t get any easier.
According to Porter, the least-defensible competitive strategy is being “stuck in the middle.” These retailers offer no long-term benefit in terms of either low prices or strong differentiation. The first part of addressing this is to recognize your true--not ideal--marketplace positioning. Next, how can you determine whether a cost, value, or differentiation strategy is most suitable....
Dr. Barry Berman is Walter ‘Bud’ Miller Distinguished Professor of Business and Director of the Executive M.B.A. program at Hofstra University. He is co-author of Retail Management: A Strategic Approach (Prentice Hall), now in its 11th edition, and the world’s best-selling retail management college textbook. He has consulted for Duane-Reade, Fortunoff’s, Kohl’s, Simon Properties, NCR, Lord & Taylor, Tesco-Ireland, and other retailers. Currently Vice President of the American Collegiate Retailing Association, he also co-founded the American Marketing Association’s Special Interest Group in Retail Management.
Berman offers detailed coverage of implementing strategies based on becoming the low-cost provider and minimizing product proliferation; enhancing the service experience; developing and maintaining a strong private label program; and more.
To support each approach, he presents full-length examples from retailers covering every market sector, from consumer goods to apparel to technology. He thoroughly examines top retailers such as Aldi, Amazon.com, L.L. Bean, Publix, Stew Leonard's, Wegman's, and Whole Foods, and shares powerful insights drawn from the experiences of other leaders--from Au Bon Pain to Best Buy, Family Dollar to Target, Tesco to Walgreen.
2¿authoritative books, now in a convenient e-format, at a great price!
Smart Retail, the world's #1 guide to retail success, complete with crucial, up-to-date insights--including new case studies, ideas, strategies, and tactics from today's best retailers, like TopShop, IKEA, and Best Buy. Covering everything from creating the ultimate retail experience to understanding the customer and the importance of motivated workers, this is the book that will equip managers, team-workers, retail entrepreneurs and indeed anybody who sells direct to customers, with practical winning ideas and strategies.¿ Competing in Tough Times brings together the powerful new strategies that world-class retailers, like Trader Joe’s, Costco, and Nordstrom, are using today to survive--and thrive--in a brutally unforgiving retail environment. Internationally respected retail management expert Barry Berman shows retailers and their suppliers exactly how to build effective strategies based on cost and differentiation, plan and implement those strategies, and measure the results.¿Berman offers detailed coverage of implementing strategies based on becoming the low-cost provider and minimizing product proliferation; enhancing the service experience; developing and maintaining a strong private label program; and more.
From world-renowned experts Richard Hammond and Barry Berman.
In Priceless, the bestselling author William Poundstone reveals the hidden psychology of value. In psychological experiments, people are unable to estimate "fair" prices accurately and are strongly influenced by the unconscious, irrational, and politically incorrect. It hasn't taken long for marketers to apply these findings. "Price consultants" advise retailers on how to convince consumers to pay more for less, and negotiation coaches offer similar advice for businesspeople cutting deals. The new psychology of price dictates the design of price tags, menus, rebates, "sale" ads, cell phone plans, supermarket aisles, real estate offers, wage packages, tort demands, and corporate buyouts. Prices are the most pervasive hidden persuaders of all. Rooted in the emerging field of behavioral decision theory, Priceless should prove indispensable to anyone who negotiates.