The model stock plan

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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

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Document type:: Monograph

Structure type:: Chapter

Title:: Chapter III. What is a Model Stock?

Collection:: Economics Books

WHAT IS A MODEL STOCK? 47 enough from memory. But memory is treacherous. The best and most profitable way is to refresh our memory of the stock constantly by actually handling the goods. The results of actually laying out, seeing, and handling the goods are sometimes startling.! No buyer who fails to do it, who thinks he lacks space or time or the need to do it properly, can make the best of the Model Stock Plan or the greatest success of which he is capable. It has constantly helped the Filene store in Boston to correct stocks and successfully to put in lines on which at the start there was no business. It means a little more work; but nothing short of it will produce a Model Stock and the larger total profits possible from such a stock. It is surprising how many errors and mark-downs this method forestalls. The buyer has perhaps bought a line very carefully—the best-selling full line, let us say. Then he lays out the cheapest full line and the highest-priced full line beside it. Very often, as I know from experience, he finds something in the cheapest full line that for some reason is as attractive as anything in the best-selling full line; or he finds something in the best-selling full line that would sell against something else in the highest-priced full line even at the same price. When making the comparison, it is best to start with the cheapest full line.2 Lay out the BB first. We shall assume 1 This has its basis in science. Individuals may be classified as having auditory, visual, tactual memories—which means that some of us remember best what we learn by hearing, others by seeing, others by feeling, and so on. Our thinking is largely based on our remembering. We are working accord- ing to the principles of psychology, therefore, when we lay out the goods for comparison. * The proper procedures in comparison and in buying are exactly opposite. In making a comparison the merchant wants to get firmly in mind his cheapest lines so that he can then make sure that his higher-priced lines compare favorably with them in value and in appeal to the customer. In other words, in making a comparison he is trying to look at his goods with the eyes of a seller. But when he is looking over the manufacturers’ lines, he is looking at the goods with the eyes of a retail customer. This is why, in buying, he finds it most profitable first to look over the highest-priced goods in the market and place no orders in any price lines until he knows all that he can possibly know about styles and standards at the highest-priced levels. The reason for this is that the average customer tries to buy what she has seen, whether it is porcelain, furniture, dresses, or whatnot, in the houses and other possession of the richer “society”? type of people whom she wishes to emu-

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