Strategy Driven

DECEMBER 10, 2021

A good example would be clothing brands hosting giveaway contests before launching their clothing line by asking the participants to share their social media handles, create innovative content relevant to the product, or through quizzes. This trick commercializes the event and helps retain customers in the long run.

Productivity 88

Productivity Products Planning Stage-Gate 88

Strategy Driven

OCTOBER 29, 2019

Startups, especially, have a hard time convincing banks that their innovative idea is going to be profitable. That’s precisely why it’s essential to focus on your marketing approach, not only in terms of visibility but also merchandising.

Strategy 50

Strategy Tips Merchandising Banking 50

Great Leadership By Dan

JANUARY 20, 2012

Incidentally, Costco employees sell twice as much merchandise per square foot of retail space as their nearest competitor – Sam’s Club! Practicing forgiveness for well-intentioned mistakes is necessary for innovation to flourish. Even part-time workers receive benefits. He did so in spite of steady criticism from Wall Street analysts.

Morale 232

Morale CEO Merchandising Long-term 232

You're Not the Boss of Me

JANUARY 19, 2013

They stifle creativity and innovation. As they often say in retail stores about handling merchandise, “ If you break it you own it”. If we are to encourage the innovators of our time we must also accept that rules should be subject to rigorous question and challenge. So, having said all of that, I have a confession to make.

Leadership 76

Leadership Maturity Merchandising Retail 76

Harvard Business Review

FEBRUARY 15, 2012

Given the unrelenting pace of change surrounding organizations in virtually every industry, companies are looking for executives who know how to innovate and introduce change, not simply caretakers who can manage the status quo. Senior management doesn't really encourage innovation, you'll hear. They won't let me take risks."

Innovation 15

Innovation Merchandising How To Proposal 15

Strategy Driven

MAY 10, 2019

Focusing on your customers requires that you not just include marketing in the business success formula for attracting customers but also include merchandising, social media support, and customer support. The gap between the online and physical space can be reduced to a large extent by using innovative technologies.

Strategy 50

Strategy Company Loyalty Merchandising 50

Harvard Business Review

JULY 11, 2013

Any promising new initiative — a stand-alone business venture or an innovation in an established organization — hits roadblocks and unexpected obstacles. Recently I''ve advised entrepreneurs and innovators about a different, seemingly better, dilemma: pop-up opportunities that look like short cuts to success.

Innovation 8

Innovation Porter Merchandising Entrepreneur 8

CEO Insider

APRIL 18, 2024

In a memo circulated on Wednesday, Chief Financial Officer Ruth Porat unveiled Google’s plans to restructure its finance organization, signaling a strategic shift towards prioritizing investments in artificial intelligence (AI).

Restructuring 58

Restructuring Finance Chief Financial Officer Organization 58

Strategy Driven

JULY 13, 2011

Pharmaceutical companies have long needed deep scientific-innovation leadership capabilities but relatively few general managers. Retailers historically need trained stored managers, a few great merchandisers, and, in most cases, store staff with a customer service orientation.

ROIC 62

ROIC Balanced Scorecard Metrics McKinsey 62

Harvard Business Review

JUNE 12, 2017

At Costco, another good jobs retailer, store managers are empowered to display merchandise and provide input into the merchandising system. Collaborative, productive, empowered employees will be best equipped to help companies roll out new innovations. They will gain new skills in the process, a win for everyone.

Merchandising 8

Merchandising Retail Competitive Advantage Technology 8

Harvard Business Review

JUNE 3, 2013

The logic here is that without the price-match guarantee, the retailer was going to lose the sale, so sales gained by this policy are incremental revenue (which results in gross profit as long as the price at least covers merchandise cost). To prosper, physical stores have to change their merchandise selection.

Price 8

Price Merchandising Retail Discount 8

Harvard Business Review

OCTOBER 6, 2014

Private label (retail-branded merchandise) has been growing for years – since Sainsbury and Marks & Spencer invented it over 100 years ago – increasing in quality and forcing down brand premiums. So with such a track record of strategic innovation, why has Tesco been blindsided by the hard discounters like Germany’s Aldi and Lidl?

Retail 11

Retail Merchandising Discount Price 11

You're Not the Boss of Me

OCTOBER 31, 2010

They stifle creativity and innovation. As they often say in retail stores about handling merchandise, “ If you break it you own it”. If we are to encourage the innovators of our time we must also accept that rules should be subject to rigorous question and challenge.

Maturity 50

Maturity Blog Merchandising McCarthy 50

Harvard Business Review

NOVEMBER 2, 2012

But Lucas didn’t push for more cash up front; instead he requested the rights to the film’s sequels and merchandise. Felix Baumgartner's Two Moments of Innovation Truth (INSEAD). Back in the early 70s, 20th Century Fox offered George Lucas about $150,000 — chump change — for writing and directing Star Wars. Dan McGinn.

Franchising 15

Franchising Merchandising Video Sports 15

Harvard Business Review

NOVEMBER 12, 2015

Many executives start presentations about products or initiatives with a vague theme statement, often expressed with as much pith as a puff of smoke: “We have a new focus on customer satisfaction,” or “Our current strategic goals are execution and innovation.” Of course not.

Merchandising 8

Merchandising Health Care Software Price 8

Harvard Business Review

JANUARY 2, 2017

Over the past year, we hosted current or former leaders from each of these retailers at MIT’s Sloan School of Management, and all four talked about a corporate culture of setting high expectations and creating conditions that encourage employees to innovate. And every year, those partners come through; so the investment pays off.

Retail 12

Retail Incentives Merchandising COO 12

Harvard Business Review

APRIL 11, 2013

Harry Gordon Selfridge, who founded the eponymous London-based retailer, did the unthinkable when he opened his first store in 1909, taking merchandise out from behind the counters so that customers could actually touch it. I want merchandise that people will desire. Innovation Leadership Retail'

Merchandising 8

Merchandising Retail Gordon Price 8

Harvard Business Review

DECEMBER 4, 2018

Newcomers like Harry’s still represent only a fraction of the overall market , but they’ve captured the majority of the growth in that time—a defining feature of disruptive innovation. In effect, it becomes a sort of coherent conglomerate. So, are such steps too bold for a $235-billion (market cap) company from Cincinnati?

Brand 11

Brand Retail Incubator Merchandising 11

Harvard Business Review

DECEMBER 6, 2011

Saving sales by pointing to merchandise locations is just one of the ways that store employees facilitate the sales process and perform a very important role. The most innovative employee managers we know use business analytics to understand the differences in how individual store associates perform.

Retail 15

Retail Merchandising Succession Taylorism 15

Harvard Business Review

MARCH 1, 2017

This view differs substantially from the relentless focus on efficiency that has characterized management thinking for most of the last three decades, but it is absolutely essential if companies are going to spur innovation and reignite profitable growth. Let me explain.

Efficiency 8

Efficiency Productivity Products Company 8

Harvard Business Review

NOVEMBER 15, 2017

Pioneers of new business models, such as Alibaba and Amazon, are launching innovations in rapid succession, such as voice ordering and real-time pricing, while simultaneously building scale and driving down costs. Danita Delimont/Getty Images. Few industries are being disrupted as drastically as the retail industry.

Retail 10

Retail Chief Executive Officer Supply Chain Operations 10

Harvard Business Review

MARCH 12, 2013

Innovative forms of financing, such as Kickstarter, will continue to grow, also invented by social entrepreneurs. Live performances will fuel economic booms; performers will make more money from merchandise sales at events than from albums, as Jazz Roots founder (and my friend) Larry Rosen observed.

Health Care 15

Health Care Merchandising Incubator Airlines 15

Harvard Business Review

OCTOBER 24, 2013

In the words of its executive vice-president and chief merchandising and marketing officer, “This is really the year of localization.”. Even Walmart, which has epitomized national retailing for so many years, is starting to re-think its chain mentality and now places buyers in the field so they can work closely with local farmers.

Retail 8

Retail Merchandising Market Penetration Brand 8

Harvard Business Review

OCTOBER 17, 2013

FedEx’s competencies in digital and transportational networks are its innovation platforms. JC Penney and its failed CEO Ron Johnson had many admirable and effective core retailing and merchandising core competencies. Customers Innovation Strategy' The same is equally and painfully true of Nokia and Blackberry, as well.

Core Competence 8

Core Competence Prahalad Supply Chain Hamel 8

Harvard Business Review

JANUARY 3, 2014

After forcing Nardelli out in 2007, founder Bernie Marcus got the company back on the competing-by-boosting-margins-through-innovation road.

Merchandising 8

Merchandising Budgeting Restructuring PR 8

Harvard Business Review

JANUARY 19, 2018

Those employees work at two of Britain’s most-admired retailers, John Lewis department stores and Waitrose supermarkets, each of which has carved out a powerful bond with customers, both of which have unveiled big innovations in terms of branding, merchandising, and e-commerce.

Definition 8

Definition Company Succession Airlines 8

Harvard Business Review

MARCH 5, 2013

After the retailers Target and Neiman Marcus teamed up on some merchandise, they decided to advertise it on ABC's drama series Revenge. We also want to know which ad campaigns strike you as innovative; tell us below and we could analyze your pick as part of this series. The Future of Advertising An HBR Insight Center.

Advertorial 8

Advertorial Advertising Merchandising Content 8

Harvard Business Review

MAY 30, 2014

But the capabilities — from merchandising to managing store staff and operating the supply chain — are very different for a small-store format. When Innovation Is Strategy. How Boards Can Innovate. How Samsung Gets Innovations to Market. Or consider U.S. An HBR Insight Center. When to Pass on a Great Business Opportunity.

Company 8

Company Supply Chain Airlines Health Care 8

Harvard Business Review

AUGUST 28, 2014

A recent article in The Economist , citing the work of Ryan Raffaelli at Harvard Business School, points to what it calls a “paradox” in the aftermath of disruptive innovation. billion in merchandise. Disruptive innovation Information & technology Innovation' Etsy charges a 20-cent listing fee per item and takes a 3.5%

Disruptive Innovation 8

Disruptive Innovation Supply Chain Technology Parcell 8

Harvard Business Review

DECEMBER 10, 2012

When these things work together, they create what we call a capabilities system: examples include Frito-Lay's direct-to-store delivery, Disney's genius for developing and commercializing family-friendly characters, and 3M's incremental innovation machine. Now that Procter & Gamble owns Gillette, should it divest the Duracell unit?

Due Diligence 15

Due Diligence EBITDA Health Care Gordon 15

Harvard Business Review

JULY 21, 2017

To embrace this market shift, retailers will need to experiment with a range of technologies and strategies across marketing, supply chain, and merchandising. New technologies are helping innovative brands to ease the transition as consumers forgo the shopping mall in favor of bringing the store experience into their homes.

Retail 8

Retail Supply Chain Merchandising Brand 8

Harvard Business Review

JANUARY 3, 2011

Such capabilities could be rapid-cycle product development, point of sale merchandising, large-scale fabrication, and so on. as an innovator, a value player, or an experience provider) and how it differentiates you from your competitors. Define precisely how your way to play adds value for your chosen customers (e.g.,

Strategy 15

Strategy Fixed Assets Competitive Advantage Long-term 15

Harvard Business Review

AUGUST 21, 2014

When I argue that e-commerce isn’t likely to destroy innovative omnichannel retailers , I typically receive passionate responses. Am I really suggesting that the growth of e-commerce will slow before it annihilates most physical retailing?

Retail 8

Retail Price Forrester Merchandising 8

Harvard Business Review

NOVEMBER 14, 2012

The company is doing pretty well: it has over 800,000 active sellers and a 15 million-person marketplace across 150 countries, and last year its gross merchandise sales reached $525 million. It's already spurred employee initiative, innovation and intrepreneurship — all in the name of making Etsy better.

Merchandising 8

Merchandising Brainstorming Commitment Proposal 8

Harvard Business Review

OCTOBER 17, 2018

Amazon, born 24 years ago, had captured about 45% of online retail commerce in the United States by 2017, but still stood for just about 5% of total US retail gross merchandise volume in that year. It took several decades for steam to drive the rollout of railways services and create a large market of exchanges in the United States.

GDP 10

GDP McKinsey Long-term Technology 10

Harvard Business Review

MAY 23, 2012

Some Amazonians try to reduce out-of-stock merchandise. Few are transforming their core businesses by radically simplifying their operations and seeking out new pockets of growth through better customer delivery and innovation in developed markets. Others race to build a bigger library of downloadable movies.

Merchandising 13

Merchandising Metrics Restructuring Library 13

Harvard Business Review

MAY 5, 2016

They see disrupted incumbents from retail, finance, health care, transportation, professional services, and manufacturing requiring radical restructuring of assets, productivity , and innovation. Conversely, superior user experience designs frequently inspire insight into innovative use-case opportunities.

Levitt 8

Levitt Disaggregation Kaizen Call Center 8