Sunday 10 May 2015

WHYNOT Grocery or Products?

There are stores and there are stores. 3 main types have been identified: just Stores, Specialty and Markets.

The difference between all these 3 is both in size and direction. As a business person i identify them based on the objectives that the owner pursues. 

STORE: One can pursue putting in everything that is sellable and make a cash flow but is there a profit in terms of sustainability? What sustains a business is its identity and the products they sell in it. The hurdles in this store type is continuity of products that have been chosen by the customers. If the manufacturer discontinues a product then the item needs to be replaced by another product. So looking out for what product is coming out is important and you will have to market it as well. This is usually done in conjunction with the manufacturer.

SPECIALITY STORE: Is a store that focuses either on one type of product or has a variety of products but under one name. The name and logo needs to attract attention? Yes and No but it helps. A message can also be used to promote the brand. Inventing new words is just as complex as inventing a brand name, the acceptance of anything takes time. Can those who have specialty stores sustain the business before it starts making returns? Maybe yes maybe No. Resilience is the key to success.

FOOD MARKETS: is a store that has special stores within i.e. like a trade zone. Usually it is a person who owns a large piece of land and leases a space within to who wishes to sell their products. A shopping mall is a kind of market but usually it focuses on a variety of specialties in it which includes service based businesses. Which is better? Well that depends on who sets themselves up within of the any above mentioned types. There are pros and cons in anything you do. As an individual i would prefer to have a speciality store to start off on. Building the brand name and developing a set of products that distinguishes it from others, then in time i will franchise it to have little locations everywhere rather than being in one location, but then thats the kind of person i am. If you ask me why. I would tell you that i am more concerned with creating jobs and opportunities rather than stand alone. If as a business someone tells me that i should be concerned about making money then i will ask "does everyday getting something mean i can save to have a pound?" I guess the logic of mine may be questioned. If i build a brand name with products that are mine wouldn’t i place myself in the position to be bought from or buying a share to use my name?

For some to develop their own product is a hassle and they want it quick, but i am the inventor type so for me to design and build is a joy. Is this New or Invented? Why is there No automatic English to Pidgin language converter? Ah I forgot pidgin is a spoken slang! Can we make a dictionary? Where do you get help?

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