Effective Merchandising and Distribution Strategies
Merchandising Strategies
Merchandising: A set of media that helps to showcase a product at the point of sale.
Key Merchandising Elements:
- Posters
- Product status displays
- Battery product presentations
- Product variety
- Decorations
- Movement and lighting
- Competitions
- Demonstrations and tastings
Distribution Functions
Transportation
Transportation: Decisions affecting the most appropriate means of transport, batch size, and frequency.
Storage
Storage: Can occur at various stores involving intermediaries in the distribution
Read MoreMacroeconomics: Understanding GDP, Income, and Expenditure
Economics Fundamentals
Microeconomics
- Focuses on how individuals and firms make decisions.
- Examines interactions in specific markets.
Macroeconomics
- The study of economy-wide phenomena.
- Includes topics like inflation, unemployment, and economic growth.
Income and Expenditure in Macroeconomics
Gross Domestic Product (GDP)
- Measures the total income of everyone in the economy.
- Also measures the total expenditure on the economy’s output of goods and services.
Income Equals Expenditure Principle
- For the economy
Bank Balance Sheets, Risk, and Monetary Policy
Understanding the Balance Sheet
A Balance Sheet is a statement that shows an individual’s or a firm’s financial position on a particular day. The typical layout of a balance sheet is based on the following accounting equation:
Assets = Liabilities + Shareholders’ Equity.
An Asset is something of value that an individual or a firm owns, particularly a financial claim. A Liability is something that an individual or a firm owes, particularly a financial claim on an individual or a firm. Bank capital
Read MoreCore International Trade Theories and Concepts
Ricardian Theory: Comparative Advantage in Trade
The Ricardian theory of international trade, developed by David Ricardo in 1817, explains why countries engage in trade based on comparative advantage rather than absolute advantage.
Key Idea: Comparative Advantage
A country should specialize in producing goods that it can produce at a lower opportunity cost and trade for goods that it produces at a higher opportunity cost.
Example:
- India: Produces textiles efficiently (low labor cost) but struggles with
International Trade Dynamics: Policies and Agreements
International Trade Fundamentals
International trade is the exchange of goods, services, and capital between countries. Several factors affect the production capabilities of different countries:
Key Factors in Production
- Weather conditions
- Mineral wealth
- Technology
- Available quantity of labor, capital, and land
Benefits of Free Trade
Some benefits associated with free trade include promoting competition, specialization, and technological advances. It can also increase productivity, enhance consumer welfare
Read MoreUnderstanding Wage Payment Structures and Regulations
Wage Receipt Requirements
Wage receipts must be delivered using the official model and conserved in detail for six years. A wage receipt should include: Wages + Accessories – Deductions = Net Pay.
Wage Structure Components
Base Salary
The base salary is the worker’s pay, set by unit of time, labor, or both, without regard to circumstances that warrant allowances.
Accessories
Accessories are amounts added to the base salary, fixed in response to circumstances relating to the worker, the work done, or the
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