Business Daily from THE HINDU group of publications Thursday, Sep 27, 2007 ePaper |
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Brand Line
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Books Columns - Book Mark Skills that buoy buying
Managing Retailing Piyush Kumar Sinha & Dwarika Prasad Uniyal Good buyers need to be ruthless, and have clear goals in terms of store profitability, say Piyush Kumar Sinha and Dwarika Prasad Uniyal in Managing Retailing ( www.oup.com). Buying success hinges on four top skills, which the book lists, as follows: negotiation, market awareness, communication and commercial taste. “The real power of the buyer comes from the knowledge of customers’ purchase patterns and the ab ility to translate these into finding the most suitable source of merchandise to address these requirements.” In an insight about purchase pattern, the book cites Ahmedabad. “A large number of Gujarati families would buy grains, cereals, pulses, edible oil, and spices for the whole year when the new crop would arrive in the market. At this time of the year, the prices would also be lower than at other times.” Wholesalers would offer prices 20 to 30 per cent cheaper than what the retailers offered, “and still made about 10 per cent gross profit. They could do so as they bought the products directly from the farms.” Wholesalers’ shops in the city centre, being small in size, would have samples and small-size packs, and the supply would be from a warehouse. Educative. Plug in first
Break Through the Noise Elisa Southard Switch on the TV and reach a channel you usually don’t watch. Then? “Don’t touch the remote for at least one minute! Just look. You’re plugging into a marketing frame of mind,” writes Elisa Southard in Break Through the Noise ( www.vivagroupindia.com). Another similar exercise is to “peruse the headlines in a newspaper section you don’t normally read,” for five minutes. “If you normally read finance, be sure to flip through arts and entertainment. Read the funnies. You’ll laugh, snicker, fume, smirk, or smile. Read the ads. Let a catchy phrase catch you. Let a well-worded headline attract you.” As Yogi Berra says, “You can observe a lot by watching.” That’s the marketing current, the marketing frame of mind, turning on, plugging in, explains Southard. And that’s just the first of the nine tools she discusses to help you propel your marketing message. Plug in. Two-way communication
Strategic Corporate Communication Paul A. Argenti Generally, companies inform their employees about new ad campaigns. However, managements seldom recognise the need to ‘sell’ employees on the same ideas they are trying to sell to the public. Thus rues Paul A. Argenti in Strategic Corporate Communication ( www.tatamcgrawhill.com). “Internal branding is especially critical when an organisation is undergoing changes such as a merger or a change in leadership,” he emphasises. Apt, that should be, for flux situations such as Vodafone-Hutch. Argenti cautions that when internal and external marketing messages are misaligned, the customer experience will suffer, with adverse effects. “For example, one healthcare company marketed itself as putting the welfare of its customers as its number one priority, while telling employees that the number one priority was cutting costs.” Priority read. D. Murali http://BookPeek.blogspot.com More Stories on : Books | Book Mark
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