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18-05-2012 07:03 AM
lizzy0302 Retail marketing creates a healthy competitive environment between retailers. This benefits consumers because it helps to keep their costs down when purchasing products. Retail marketing also helps keep competitors aware of what the other is charging for the same product.
12-05-2012 05:37 PM
Zen i would like to seek the advice of those in retail trade...

what would be the best way to give commission to the retail salespeople? based on individual's sales or based on shop's overall sales?

if based on individual, then i'm sure everyone will be "killing" each other for sales..if based on overall sales, then some will laze and not work hard.

can someone suggest to me some ideas or advice about working out a commission scheme for retail sales people?

thank you.
08-09-2011 04:28 PM
Hermit The retail business is alive and well.

But most Singaporeans do not how to do it.

If you are new or small, you cannot do general retail because the big boys will kill you in economies of scale.

So you have to be niched. No need to come up with a new range of products. You can sell what others sell. But sell it with better customer service (pre and post sale). Or do fun and crazy promotions.

So what is the key? Singapore is a very small place. The key is to generate some online buzz about you or your shop or the way you do business that is friendly or competitive.

Think 5 years ahead. What will Singapore be like? Lots more foreigners? Lots of FT with high salaries? What will they buy? How will they spend.

So just do some homework and start small.
24-06-2009 10:51 AM
quek
Quote:
Originally Posted by davidtan View Post
You can also start with few contacts. If you can keep your costs lower than others - be more efficient, have a good strategy, exploit technology - then you have a competitive advantage. Next is to set attractive pricing and have good marketing. Be responsive, provide good customer service and start building up relationships.

With the above, even the most loyal customers may switch to do business with you.
I believe my friend's dad started with lots of contacts and deep knowledge. He's been in the industry for a long time before he started out.
23-06-2009 06:13 PM
davidtan You can also start with few contacts. If you can keep your costs lower than others - be more efficient, have a good strategy, exploit technology - then you have a competitive advantage. Next is to set attractive pricing and have good marketing. Be responsive, provide good customer service and start building up relationships.

With the above, even the most loyal customers may switch to do business with you.
23-06-2009 05:05 PM
Husky
Quote:
Originally Posted by bjhchong View Post
Husky,

I sense here that it's the contacts & the loyalty of the contacts that defines the success of a business. Is that the key-point?

I recalled yesterday's paper about animator Sung Linggun saying about making cold-calls initially & not having to be able to "make it" just because they simply cannot establish some sort of contact...

Can we perhaps say that the key lesson here is: For the success of a business, contact is the key?

Perhaps understanding that, we now know where to focus our energy IF we were to embark on setting up a business.
If you were to ask me what are the three most important factors in determining the success of a business. I would list (not in order of importance) them as:

1) Contacts

2) Knowledge of how the industry works

3) Courage and will to start the business and also to push on in times of difficulty

I think I am lacking sorely in 3
23-06-2009 03:53 PM
bjhchong Husky,

I sense here that it's the contacts & the loyalty of the contacts that defines the success of a business. Is that the key-point?

I recalled yesterday's paper about animator Sung Linggun saying about making cold-calls initially & not having to be able to "make it" just because they simply cannot establish some sort of contact...

Can we perhaps say that the key lesson here is: For the success of a business, contact is the key?

Perhaps understanding that, we now know where to focus our energy IF we were to embark on setting up a business.
23-06-2009 03:23 PM
Husky
Quote:
Originally Posted by adbie View Post
Yet they are still doing so well!
Haha. It's from the massive contacts they built up over the years. Most of my retail and export customers are long time regulars.
23-06-2009 02:33 PM
quek
Quote:
Originally Posted by Husky View Post
He's also not too flexible in terms of his thinking. From what I can observe we are still operating on the same business model as when they started 25 years ago.
Yet they are still doing so well!
23-06-2009 11:58 AM
Husky
Quote:
Originally Posted by adbie View Post
As I suspected, my friend's dad is operating a smaller biz. He bragged about his 1mil turnover a couple of years ago. That's why I tell myself since small towkays like him can do so well, and even smaller towkays like my parents are doing not-too-bad too, what's stopping me from venturing out? (My mum did caution me that I have not seen enough failure cases...)
Your mum is right. While it's cool if you succeed, there's always a chance of failure. The opportunity cost for us is simply too high. I am 30 this year and getting $4k plus monthly. Not fantastic but really quite comfortable.

Quote:
Originally Posted by adbie View Post
Curious again, does your boss worry about his staff leaving the company to set up a competing firm?
Well. Maybe because when he left his former company, he poached away some of his ex boss's customers? He's also not too flexible in terms of his thinking. From what I can observe we are still operating on the same business model as when they started 25 years ago.
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