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Price Markdown
A price markdown is a deliberate Discounts and allowances, reduction in the selling price of retail merchandise. It is used to increase the ''velocity'' (rate of sale) of an article, typically for Closeout (sale), clearance at the end of a season, or to sell off obsolete merchandise at the product lifecycle, end of its life. The timing and level of markdowns in a selling season is critical to maximising return on sales. This is often measured as ''revenue realization'': the proportion of the potential original selling price achieved. For example, a revenue realization of 50% means that only half the potential full-price sales value was achieved by the end of the season. It is also important in minimizing ''terminal inventory'', i.e. the amount of merchandise left when the season is finished. A recent trend has been to use demand optimization software to establish the most desirable timing and level of markdown. Optimization techniques can be used to determine where the best combin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Discounts And Allowances
Discounts and allowances are reductions to a basic price of goods or services. They can occur anywhere in the distribution channel, modifying either the manufacturer's list price (determined by the manufacturer and often printed on the package), the retail price (set by the retailer and often attached to the product with a sticker), or the list price (which is quoted to a potential buyer, usually in written form). There are many purposes for discounting, including to increase short-term sales, to move out-of-date stock, to reward valuable customers, to encourage distribution channel members to perform a function, or to otherwise reward behaviors that benefit the discount issuer. Some discounts and allowances are forms of sales promotion. Many are price discrimination methods that allow the seller to capture some of the consumer surplus. Types The most common types of discounts and allowances are listed below. Dealing with payment Prompt payment discount ''Trade discounts ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Retail
Retail is the sale of goods and services to consumers, in contrast to wholesaling, which is sale to business or institutional customers. A retailer purchases goods in large quantities from manufacturers, directly or through a wholesaler, and then sells in smaller quantities to consumers for a profit. Retailers are the final link in the supply chain from producers to consumers. Retail markets and shops have a very ancient history, dating back to antiquity. Some of the earliest retailers were itinerant peddlers. Over the centuries, retail shops were transformed from little more than "rude booths" to the sophisticated shopping malls of the modern era. In the digital age, an increasing number of retailers are seeking to reach broader markets by selling through multiple channels, including both bricks and mortar and online retailing. Digital technologies are also affecting the way that consumers pay for goods and services. Retailing support services may also include the provision ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Closeout (sale)
A closeout or clearance sale (closing down sale in the United Kingdom) is a discount sale of inventory either by retail or wholesale. It may be that a product is not selling well, or that the retailer is closing because of relocation, a fire (a fire sale), over-ordering, or especially because of bankruptcy. In the latter case, it is usually known as a going-out-of-business sale or liquidation sale, and is part of the process of liquidation. A hail sale is a closeout at a car dealership after hail damage. A store that is closing will often advertise to customers their last chance to buy. However, often closures are from companies that can't sell their inventory, inventors whose ideas were not marketable, or businesses needing fast incoming cashflow to pay debts such as payroll or rent. A closeout store is a retailer specializing in buying closeout items wholesale from others and selling them at low prices. Big Lots is a well-known closeout retail chain in the United St ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Product Lifecycle
In industry, Product Lifecycle Management (PLM) is the process of managing the entire lifecycle of a product from its inception through the engineering, design and manufacture, as well as the service and disposal of manufactured products. PLM integrates people, data, processes and business systems and provides a product information backbone for companies and their extended enterprises. History The inspiration for the burgeoning business process now known as PLM came from American Motors Corporation (AMC). The automaker was looking for a way to speed up its product development process to compete better against its larger competitors in 1985, according to François Castaing, Vice President for Product Engineering and Development. Lacking the "massive budgets of General Motors, Ford, and foreign competitors … AMC placed R&D emphasis on bolstering the product lifecycle of its prime products (particularly Jeeps)." After introducing its compact Jeep Cherokee (XJ), the vehicle th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Return On Sales
In business, operating margin—also known as operating income margin, operating profit margin, EBIT margin and return on sales (ROS)—is the ratio of operating income ("operating profit" in the UK) to net sales, usually expressed in percent. : \text = \frac . ''Net profit'' measures the profitability of ventures after accounting for all costs.Farris, Paul W.; Neil T. Bendle; Phillip E. Pfeifer; David J. Reibstein (2010). ''Marketing Metrics: The Definitive Guide to Measuring Marketing Performance.'' Upper Saddle River, New Jersey: Pearson Education, Inc. . The Marketing Accountability Standards Board (MASB) endorses the definitions, purposes, and constructs of classes of measures that appear in ''Marketing Metrics'' as part of its ongoinCommon Language: Marketing Activities and Metrics Project. ''Return on sales (ROS)'' is net profit as a percentage of sales revenue. ROS is an indicator of profitability and is often used to compare the profitability of companies and industri ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pricing
Pricing is the process whereby a business sets the price at which it will sell its products and services, and may be part of the business's marketing plan. In setting prices, the business will take into account the price at which it could acquire the goods, the manufacturing cost, the marketplace, competition, market condition, brand, and quality of product. Pricing is a fundamental aspect of product management and is one of the four Ps of the marketing mix, the other three aspects being product, promotion, and place. Price is the only revenue generating element amongst the four Ps, the rest being cost centers. However, the other Ps of marketing will contribute to decreasing price elasticity and so enable price increases to drive greater revenue and profits. Pricing can be a manual or automatic process of applying prices to purchase and sales orders, based on factors such as: a fixed amount, quantity break, promotion or sales campaign, specific vendor quote, price prevailing o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
