Competing in Tough Times: Business Lessons from L.L.Bean, Trader Joe's, Costco, and Other World-Class Retailers
Product Author Bios
Barry Berman is Walter H. "Bud" Miller Distinguished Professor of Business at Hofstra University and Director of Hofstra's Executive MBA Program. He serves on the board of the American Collegiate Retailing Association (ACRA), and co-chairs the triennial Academy of Marketing Science (AMS)/ACRA Retailing Conference. Berman has consulted with retail clients ranging from Tesco to NCR, Simon Property Group to Fortunoff's, Kohl's, and Lord & Taylor. He has published widely on marketing and retailing topics, and is co-author of the world’s leading retail management text, Retail Management: A Strategic Approach, 11th Edition (Prentice Hall).
Competing in Tough Times brings together the powerful new strategies that world-class retailers, like Trader Joe’s, Costco, and Nordstrom, are using today to survive--and thrive--in a brutally unforgiving retail environment. Internationally respected retail management expert Barry Berman shows retailers and their suppliers exactly how to build effective strategies based on cost and differentiation, plan and implement those strategies, and measure the results.
Berman offers detailed coverage of implementing strategies based on becoming the low-cost provider and minimizing product proliferation; enhancing the service experience; developing and maintaining a strong private label program; and more.
To support each approach, he presents full-length examples from retailers covering every market sector, from consumer goods to apparel to technology. He thoroughly examines top retailers such as Aldi, Amazon.com, L.L. Bean, Publix, Stew Leonard's, Wegman's, and Whole Foods, and shares powerful insights drawn from the experiences of other leaders--from Au Bon Pain to Best Buy, Family Dollar to Target, Tesco to Walgreen.
5 of 5 people found the following review helpful
No Hat, All Cattle,
This review is from: Competing in Tough Times: Business Lessons from L.L.Bean, Trader Joe's, Costco, and Other World-Class Retailers (Kindle Edition)In rural America, certain men are described as being "all hat, no cattle", meaning that they dress the part of a cowboy, but lacking any substance. Most of the books I've read on business over the past half century have been somewhat short on substance as well. They spend 60,000 to 80,000 words expounding truths that could be adequately addressed in a 1200 word essay.
That's not the case here. Barry Berman packs facts into this book like sardine fit into a can. One dares not look away for a sentence for fear of missing an important detail.
He relates, "A favorite story of Stew Leonard is when he once opened a tuna fish sandwich and complained to his deli manager that there was too much mayonnaise - a costly ingredient. The following week, he noticed that the problem was not addressed. In speaking with the sandwich preparer, he was told that customers wanted a sandwich packed with extra mayo. Stew's comment to the preparer was 'Bravo, Mary!'"
Bravo,... Read more
This review is from: Competing in Tough Times: Business Lessons from L.L.Bean, Trader Joe's, Costco, and Other World-Class Retailers (Kindle Edition)Used it for my business classes to help with strategies. The information was everything I needed to evaluate my chosen.company.
This review is from: Competing in Tough Times: Business Lessons from L.L.Bean, Trader Joe's, Costco, and Other World-Class Retailers (Kindle Edition)well written, well researched, I would recomend. Helped me to understand the success of Trader Joe's a little better given thier overwhelming secrecy of everything they do from a strategic point of view
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Online Sample Chapter
Table of Contents
Chapter 1: The Questionable Future Facing Global Retailers 5
Chapter 2: Low-Cost Strategies I: Key Elements of a Low-Cost Provider Strategy 27
Chapter 3: Low-Cost Strategies II: Delivering Low Costs Through Minimizing Product Proliferation 49
Chapter 4: Differentiation Strategies I: Effective Human Resource Strategies 81
Chapter 5: Differentiation Strategies II: Enhancing the Service Experience 111
Chapter 6: Differentiation Strategies III: Developing and Maintaining a Strong Private Label Program 141
Chapter 7: Implementing Cost-, Differentiation-, and Value-Based Retail Strategies 173
Appendix: Individual and Composite Financial Performance, Customer Service, and Worker Satisfaction Metrics of the Best-Practice Retailers 203
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