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Retail Marking Concepts

If I'm the owner of a art store, how would I go about applying the retail marketing concepts below?

1. The crime rate in my small city has increased. I need to hire new employees and do not know all of them as well as needed. What are the methods of inventory control and merchandise security that I can utilize to address these concerns. In addition, what would be the costs and benefits of each method and determine the ones that would suit my budget and situation.

2. What are the relevant issues involved for pricing inventory, workshops, and seminars? Evaluate the pricing strategies which are: demand-oriented, competition-oriented, or cost-oriented. After reflecting on the benefits and drawbacks of each, which will work best for my current situation and why?

Cite any references used that will benefit my business. Thanks

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1. The crime rate in my small city has increased. I need to hire new employees and do not know all of them as well as needed. What are the methods of inventory control and merchandise security that I can utilize to address these concerns. In addition, what would be the costs and benefits of each method and determine the ones that would suit my budget and situation?

Decisions about how much inventory to have at the art store such as raw materials, work in progress, or finished goods; where to store them at the store, and what quantities to have are vital to the art store's success.
Inventory levels that can benefit the art store can be a concept called two "bins" of a product. It works like this: When one bin is empty it is replaced by a second (full) bin, and then another one is ordered. This way, the store always has a replacement, but there is no excess inventory that could be a temptation for employees, or ...

Solution Summary

Retail marketing concepts are examined in the following posting. The relevant issues involved for pricing inventory, workshops and seminars are determined.

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