The model stock plan

Bibliographic data

Monograph

Identifikator:: 1820833348

URN:: urn:nbn:de:zbw-retromon-210730

Document type:: Monograph

Author:: Filene, Edward A. http://d-nb.info/gnd/123562244

Title:: The model stock plan

Place of publication:: New York

Publisher:: McGraw-Hill Book Company

Year of publication:: 1930

Scope:: xiv, 253 Seiten

Digitisation:: 2022

Collection:: Economics Books

Usage license:: Get license information via the feedback formular.

Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Chapter I. The way to greater total profits

Collection:: Economics Books

THE MODEL STOCK PLAN in either men’s or women’s shoes.! If the retailer tries to keep a complete stock at too many price levels or too many styles, the difficulties catch him both coming and going. This is proved in some of the departments of even the most successful stores, where the profits shown at stock taking are found to be in goods instead of money, and these goods are mostly the odds and ends of too many styles and too many price lines. When we build a Model Stock, we lose few sales for lack of merchandise. Also we have few leftovers. We shall see in this book that the Model Stock Plan gives us our profits in cash instead of in obsolete goods. Moreover, it builds goodwill, the greatest asset of any business. When a successful going concern changes hands or offers its stock on the market, the goodwill generally can be sold for more than the tangible assets. Goodwill is defined by Webster as “the advantage in custom which the business has acquired beyond the mere value of what it sells.” For the practical business man we have a far simpler, more profitable, and more easily understood definition of goodwill: the customers’ feeling that they had rather deal with us. Here is the first essential of goodwill: No matter how pleasant we may be, no matter how attractive may be all the other features of our store, we cannot have any profitable goodwill unless we have the goods the customers wish. A store filled with desirable free services but containing no goods could have no salable goodwill. In less degree this condition of no goods—at least not what the customer wants in colors, styles, materials, sizes—is essentially what has been happening too often in every store operated by the old methods. If, in natural defense of his store, any retailer in reading thus far resents or opposes this statement, let me ask him for a moment mentally to take L A good instance is a stock of women’s shoes in new styles. Unless such a stock is bought scientifically, substituting facts for opinions, the store is caught on one of the horns of a dilemma, Either the store cannot supply all the lengths and widths called for in the new styles, or, if it can supply them, numetous lots and sizes and lengths which are not in sufficient demand will Fail to sell out completely before the styles have gone out of date.

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