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Education
Experience in Retail
Enthuasiams
Analytical Skills
Product and Market Knowledge
Communication skills
Forecasting ability
Creativity

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-higher profit margin
-lower cost
-some countries are better quality
-meet taste

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1. Using a table what are the advantages & disadvantages of Private Label (Retail) brands and National/International (Supplier) Brands?

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2. What are some of the Departments & Organisations that a retail buyer interacts with on a frequent basis?

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3. Why would a retail buyer need to know to import merchandise?

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What would you need to become a retail buyer?

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5. What considerations are there when putting a range together?

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Where have all the buyers and planners gone 

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- consistency
- diversity
- Stock
- moving stock

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Disadvantages of Private brands:
1. There is no guarantee that the products are quality and value.
2. Retailer may not emphasize private brands due to many consumers are loyal to manufacturer brands.

Advantage
-      Because the private brand is fully owned and controlled by retailers, therefore they are not sold by competing retailers , they are able to have higher profit,

-          They are less expensive and therefore they can gain the loyalty customers easier.

-          Exclusive products, customers often perceive “better value

Disadvantages for National brands:
- prices are more expensive for consumers
- face extensive competition from private brands

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6. Using retail examples there any differences for the retail buyer if they are buying for...

a. Boutique?
Monards - Melbourne (jewlery store)
a more specific line of stock
limited number of categories
stock other brands
More flexibility on what they stock

b. Department Store?
Bendals - New York

Overseas selection of merchandise
ensures merchadise aligns with the brands positioning

c. Online Store?
ASOS
can have own brand versus other brands
identifies consumer trends
Buys items from individual brand suppliers

d. (Own Retail Label) Specialty Chain Store
Review
stock their own label
visit manufacturers