MKF2540 Study Guide - Final Guide: Markdown, Break Bulk Cargo, Stock Market

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Australian retail sector: . 5m total turnover for 2013: growth is being driven by restaurants, cafes & takeaway food. year on year growth. Social & economic significance of retail: sales and distribution of essential products and services, employment, wealth distribution, social, economic and environmental responsibility. The power of retail: shift in retail power linked to, ability to set shelf prices, development of retailers own brands (house brands- e. g. coles) beginning to pull equity from manufacturer brands. Scan data: what they bought, how much did it cost etc. Basket data: what was in their basket not just what they bought but tracking their sop journey to understand their behaviour. Loyalty data: can start to target individuals - can start to understand eh segments, want to combine loyalty and basket data. Retail management has a dual focus: 1. introduce you to the fundamental concepts and principles of retail management, 2. Customer loyalty creation of loyalty: 5.

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