RMG 400 Lecture Notes - Lecture 6: Target Market, Promotional Mix, Visual Merchandising
18 Apr 2016
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Week 6 pricing and promoting the merchandise. Promote efficiency + adaptability of canadian econ. Expand opp. for canadian participation in world markets, while same time recognizing ole of foreign competition in canada. Ensure small + medium-sized enterprises have equitable opp. to participate in canadian econ. Penetration policies (low prices to produce large unit sales volume) Loss leaders (not generate any profits, but will build store traffic) Store"s sales in relation to total sales in industry or one specific trading area. Mgmt. usually states profit objective as % of sales. Actual profits can be compared w/ industry avg or past records. Buyers will be evaluated on how well they achieved mark goals @ specific sales level. Markup formula included a profit estimate if markup is achieved at desired sales level, profits will result. Communicating info about products, services, images, ideas to influence consumer"s purchase behaviour. Objectives should be stated in specific terms, such as:
