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The contribution of ecommerce is expected to grow even further to cover 24% of retail sales in 3 years. ... I will shed light on some basic business concepts, discuss examples, provide insights ...
Category management is a retailing and purchasing concept in which the range of products purchased by a business organization or sold by a retailer is broken down into discrete groups of similar or related products. These groups are known as product categories (examples of grocery categories might be: tinned fish, washing detergent, toothpastes).
Retail designers pay close attention to the front of the store, which is known as the decompression zone. This is usually an open space in the entrance of the store to allow customers to adjust to their new environment. An open-plan floor design is effective in retail as it allows customers to see everything.
A business plan is a formal written document containing the goals of a business, the methods for attaining those goals, ... Templates [3] and guides, ...
The business model canvas is a strategic management template used for developing new business models and documenting existing ones. [2] [3] It offers a visual chart with elements describing a firm's or product's value proposition, [4] infrastructure, customers, and finances, [1] assisting businesses to align their activities by illustrating potential trade-offs.
The steps in a basic new production development process are: Idea generation (or Ideation (creative process)) →Concept screening→ Concept testing → Business analysis → Product development → Market testing → Commercialization and may include a Soft launch. The NPD process can be applied to: Products: New product development; Design
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