Interview - Mr.Ankur Prakash, Managing Director, NUN
Contributed by Harshit Thakkar, Knowledge Buddy
NUN – a fashionable start up, for the women of tomorrow, is a lifestyle for every girl who believes in herself. At NUN, true to the season, be it a sunny summer or vacation time, from vibrant dresses to edgy bags, from innovative lamps to unconventional candles. NUN has something for every girl for her every mood for her every demand. Merchandise so close to her different phases of life, the NUN store isn't simply a place where a girl feels at home, it's a space that she wants to call her own.
How NUN started
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Managing your vendors effectively
Contributed by Charu Gupta, Knowledge Buddy
All retailers, whether big or small, have to manage their vendor base efficiently. Larger the number of brands, bigger is the vendor base. Retailers know that to stay ahead in race they have to obtain right merchandise at right quantity and at right prices and make it available to the customers on time.
Vendor Management is a process that allows the retailers to take advantage of ideas, innovation, best practices and cost benefits which the industry offers. A retailer needs to do excessive amount of detailing and documention of each and every process associated with each vendor. He has to define clear guidelines pertaining to shipments, quality controls, pricing, markdowns, logos and promotions, etc. along with the vendors. Proper Service Level Agreements (SLAs) have to be signed with each vendor to keep a record of written agreement with them .
Interview with Mr. Vijayant Chhabra, Executive Director, Archies
Contributed by Anku Sharma, Knowledge Buddy
Mr. Vijayant Chhabra had joined the Archies Limited in 1993. He has been responsible for the successful set up of strong 400 franchise network of Archies throughout India and abroad. The company entered into retail by opening company owned stores where he has played a crucial role for the growth of the format. Archies has 130 company stores as of now with a growth rate of 50 stores per year at present.
Mr. Vijayant Chhabra shares his opinion on gifts and retailing industry
The World of Books and Gifts
Books and gifts retailing is predominantly present in urban cities. It contributes 0.84%to the retail pie the market of worth $2610 million. Of the total $115 million organized retail contributes to just $15 million. Organized retailers like Om book shop, Cross word, Book café and Oxford book store have given basket of never seen before choices the Indian customer.
The India book market is worth Rs. 3,000 crores out of which text books of have a share of 80-85%. General books including fiction, non fiction, management and self improvement book s contribute to 500 crores. This is the battle field for the organized books retailers.
Barcode – The Challenges in the Indian Retail Market
Contributed by Anku Sharma
June, 1974 Marsh’s supermarket in Troy, Ohio made a history in retail. It scanned the barcode for the first time on a Wrigley’s gum. Since then barcodes, the tiny little strip of black and white bars has revolutionized the supply chain of many businesses. The codes identify a product and help in distinguishing between one kg of Dawat basmati rice from a 35 gram Cadbury chocolate. When a bar code is scanned, the information in the store's database lets the retailer assign a price and track sales and inventory. It integrates all stakeholders of the supply chain- the manufacturer, distributor, transporters and the customers. It ushered a new era of increased productivity for the retailers. In India, it was 10 years ago that the IT task force made the barcode compulsory advocating adherence to international conventions.
Indian Diamond Industry
Table of Contents: Year 2006
How market research supports the new product development process
Source: The Times 100
Abstract:
Market research is the process by which businesses find out about customers' needs, wants and desires. It makes possible the successful development of new products.
This study shows how an international company, Beiersdorf, combines market research with new product development on its NIVEA Deodorant brand to provide exciting new products that better meet consumer requirements.
Developing products and services to meet market demand
Source: The Times 100
Abstract:
This case study examines how Portakabin, specialised in producing modular buildings has developed new products in response to growth in its existing markets.
In particular, it focuses on Portakabin WardSpace accommodation: an efficient way of meeting the increasingly demanding and highly specific requirements of the healthcare industry.
Developing competitive marketing strategies
Source: The Times 100
Abstract:
All organisations face an external business environment that constantly changes. Sometimes these changes are slight eg minor amendments to regulations or a new firm entering the market as a 'small player'. At other times, however, changes in the environment may have important consequences for an organisation eg new technologies, changing consumer tastes or a merger between two large competitors.
This case study illustrates how Amway, after analysing its business operations and performance, moved its business forward by choosing an appropriate marketing strategy. It demonstrates the connection between Amway's own strategies and the defining matrix of strategies developed by Ansoff in his article 'Strategies for Diversification' published by the Harvard Business Review in 1957.
