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 II. Choosing price levels to increase sales

Collection:: Economics Books

CHOOSING PRICE LEVELS TO INCREASE SALES 29 ambition on getting at these prices everything possible that is sold at a higher price, exactly as do Woolworth’s buyers.! To return to specific ways of setting price levels scien- tifically, there are two general methods open: (1) by sales records kept for that purpose; (2) by what we can learn from other stores and all other sources, including our own business Experience. The price of each full line must, to an extent, be deter- mined in relation to prices at which competitive stores do their largest business. From long experience let me warn especially against the dangers of implicit trust in store statistics. Properly kept and used with discretion, they are a genuine help when carefully considered as a partial means of determining full-line prices. But they are not necessarily trustworthy. An outstanding danger of keeping statistics is that when the average retailer gets as far as using statistics, he believes he is being scientific and, therefore, is cocksure that he is always right. Store statistics can seldom be used as the sole guide. They must be interpreted in the light of corollary fact and logic—not opinion. For example, suppose that in our store we intend to sell the largest volume of gloves at $1.50 and that the cheapest full line is $1. But if customers always see $1 gloves displayed more prominently, their resultant purchasing will bring $1 gloves into the statistical position of being our best- selling full line. If we believe our statistics, then, we shall have to come down to $1 for our best-selling full line and provide a lower line for our cheapest full line, which is, of course, exactly what we should not do. Instead, we should revise our store methods so that our $1.50 line, the correct best-selling price at which most customers will most readily buy, should actually be our best-selling line and have an opportunity to earn for us the greatest total profits. he $a er of one of tl d principal owne buyer is so a o, the head an uality in a : “4s wo Bl = es recently that 2 Zhe? Ey sell at a fixed retail Wii he the a that he receives in buyin valuable as the price.

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