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Tag Archives: business model
How Should Retailers Compute Customer Lifetime Value?
Smart retailers realize that repeat business (customer loyalty) is one of the most important — if not THE most important — objectives to achieve in both the short and long run. This is a key challenge for many retailers, both … Continue reading
Posted in Part 1: Overview/Planning, Part 2: Ownership, Strategy Mix, Online, Nontraditional, Part 3: Targeting Customers and Gathering Information, Part 5: Managing a Retail Business, Part 6: Merchandise Management and Pricing, Part 8: Putting It All Together
Tagged Bain & Company, business model, customer expectations, customer loyalty, Net Promoter, planning, price, tips
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Do Better at Customer Referrals
We know that positive customer word of mouth (in person or electronically) can have a dramatic impact on firm performance. Here is a nice infographic by Forewards, a specialist in customer referrals for small firms: “If your business is like … Continue reading
Posted in Online Retailing, Part 1: Overview/Planning, Part 2: Ownership, Strategy Mix, Online, Nontraditional, Part 3: Targeting Customers and Gathering Information, Part 5: Managing a Retail Business, Part 6: Merchandise Management and Pricing, Part 7: Communicating with the Customer, Social Media and Retailing
Tagged business model, customer expectations, customer loyalty, customer satisfaction, customer service, experiential retailing, Forewards, infographic, merchandising, multichannel, opportunity, planning, referral, retail analytics, tips, trends
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Online Resources for Women and Minority Business Owners
Although these observations by the National Women’s Business Council refer specifically to female business owners, they are equally applicable to minority business owners: “Like all entrepreneurs, women business owners face many challenges in making their entrepreneurship dreams a reality. Some … Continue reading
Posted in Career Useful Information, Careers in Retailing, Part 2: Ownership, Strategy Mix, Online, Nontraditional, Part 3: Targeting Customers and Gathering Information, Part 5: Managing a Retail Business, Part 8: Putting It All Together
Tagged business model, entrepreneur, financing, information, job, Magnatag, minorities, National Women's Business Council, opportunity, planning, resources, tips, women
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Retailing: From A to Z 