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Customer-Centered Design: A New Approach to Web Usability by Karen Hyatt, Kreta Chandler

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Business Planning and Retail Differentiation

Retailers don't merely rent space, stock it with goods, and open the doors. They engage in extensive business planning, customer analysis, and competitive evaluation. Without an effective business and marketing plan, it is very difficult to establish metrics and to evaluate the success of the business. We'll discuss some specific retail techniques such as category management and SKU rationalization later in this chapter. The essential components, then, of a sound business plan include the following:

  • Identifying the current situation, issues, or problems

  • Creating objectives, strategies, and a mission statement

  • Determining, analyzing, and selecting target customers

  • Identifying the customers' needs

  • Analyzing ...

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