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Competing in Tough Times Business Lessons from L. L. Bean, Trader Joe's, Costco, and Other World-Class Retailers

ISBN-10: 0132459191
ISBN-13: 9780132459198
Edition: 2011
Authors: Barry Berman
List price: $44.95
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Description: Competing in Tough Timesbrings together the powerful new strategies that world-class retailers are using today to survive--and thrive--in a brutally unforgiving retail environment. Internationally respected retail management expert Barry Berman  More...

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Book details

List price: $44.95
Copyright year: 2011
Publisher: Financial Times/Prentice Hall
Publication date: 2/3/2011
Binding: Hardcover
Pages: 300
Size: 6.25" wide x 9.25" long x 0.75" tall
Weight: 1.276

Competing in Tough Timesbrings together the powerful new strategies that world-class retailers are using today to survive--and thrive--in a brutally unforgiving retail environment. Internationally respected retail management expert Barry Berman shows retailers and their suppliers exactly how to build effective strategies based on cost and differentiation, plan and implement those strategies, and measure the results. Berman offers detailed coverage of implementing strategies based on becoming the low-cost provider and minimizing product proliferation; enhancing the service experience; developing and maintaining a strong private label program; and more. To support each approach, he presents full-length examples from retailers covering every market sector, from consumer goods to apparel to technology. He thoroughly examines top retailers such as Aldi, Amazon.com, L.L. Bean, Costco, Nordstrom, Publix, Stew Leonard's, Trader Joe's, Wegman's, and Whole Foods, and shares powerful insights drawn from the experiences of other leaders--from Au Bon Pain to Best Buy, Family Dollar to Target, Tesco to Walgreen.

Preface
Introduction
The Questionable Future Facing Global Retailers
Increased Competition Across Retail Formats
Retail Store Positioning and Competitive Strategy
Takeaway Points
Endnotes
Low-Cost Strategies I: Key Elements of a Low-Cost Provider Strategy
Implementing Low-Cost/Low-Price Strategies
Advantages of Being a Low-Cost Provider
Key Elements of a Low-Cost Retailer Strategy
Takeaway Points
Endnotes
Low-Cost Strategies II: Delivering Low Costs Through Minimizing Product Proliferation
Managerial Concerns Related to Product Proliferation
Causes of Product Proliferation
Reducing Product Proliferation: The Experience of Aldi, Costco, Stew Leonard's, and Trader Joe's
Takeaway Points
Endnotes
Differentiation Strategies I: Effective Human Resource Strategies
Strategic Benefits of Effective Human Resource Strategies
The Human Resource Strategies of Best-Practice Firms
Takeaway Points
Endnotes
Differentiation Strategies II: Enhancing the Service Experience
Consumer Satisfaction Studies and Analyst Reviews of the Benchmark Retailers
Employee Dimensions of the Service Experience
Nonemployee Dimensions of the Service Experience
Optimizing Customers' Web-Based Service Experience
Takeaway Points
Endnotes
Differentiation Strategies III: Developing and Maintaining a Strong Private Label Program
Advantages of a Strong Private Label Program to Retailers
Private Label Strategies of Successful Retailers
Takeaway Points
Endnotes
Implementing Cost-, Differentiation-, and Value-Based Retail Strategies
Cost-Based Strategies
Differentiation-Based Strategies
Value-Based Strategies
Auditing a Store's Cost, Differentiation, and Value Strategies
Takeaway Points
Endnotes
Appendix: Individual and Composite Financial Performance, Customer Service, and Worker Satisfaction Metrics of the Best-Practice Retailers
Introduction
Individual Performance Metrics of the Best-Practice Retailers
Composite Data on Best-Practice Retailers
Employee Satisfaction Measures of Best-Practice Retailers
Takeaway Points
Endnotes
Index

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