Elements and Performance Criteria
- Analyse market.
- Identify business client groups and analyse their product and service preferences.
- Review performance of product and service range to identify demand and seasonal variations.
- Identify opportunities to improve product and service range.
- Research and identify potential new products and services, evaluate supplier claims, benefits for clients and potential safety risks.
- Identify market competition for specific products and services.
- Plan product and service range.
- Assess existing product and service range against business objectives, market analysis and sales performance.
- Evaluate new techniques and equipment and assess workforce skills, knowledge and training required to introduce.
- Identify space and equipment requirements for product display and service delivery.
- Determine optimum product and service mix considering all factors and according to market analysis.
- Negotiate supply and maximise profit.
- Negotiate cost of supply to maximise profit margins.
- Negotiate terms of trade with suppliers.
- Convey complete and accurate records of negotiations and agreements to appropriate personnel.
- Determine pricing policies for products and services according to nett profit margin required.
- Develop product and service assessment checks and regularly calculate contributions against budgeted sales targets.
- Introduce new products and services.
- Update product and service range at regular intervals.
- Inform staff of new product and service range, and implement relevant staff training.
- Demonstrate and promote new products and services to staff.
- Rationalise or delete non-performing products or services.
- Consolidate stock to maximise sales and minimise adverse effects on profit.
- Monitor quality.
- Establish specifications for quality of supplier merchandise.
- Monitor merchandise quality during supply and delivery process and rectify deficiencies.
- Check stock return figures and analyse against target figures.
- Evaluate product and service range regularly against staff and client feedback and amend as required.