Log 2

 The book I picked this time is Marketing Mistakes , After reading this, I feel that the success or failure of the retail industry lies in the business model and pricing strategy. E.J. Korvette founder Gene Ferkauf insists on using low-price strategies to attract customers and using fast turnover to make up for low profit margins. It was a huge success in the beginning, but as competitors entered the market, this strategy faced many challenges. The story of W.T. Grant is a warning of overreach. Failure to properly manage resources during the expansion process ultimately led to a deterioration in financial conditions and the inability to sustain operations. So I think resource management is very important. With stable expansion strategy and proper management, Kmart became the retail giant second only to Sears at that time. Its success also proves that competition in the retail industry does not only rely on low-price strategies, but also requires a balance in business operations, resource management and market positioning.

  Competition in the retail industry is not only a price war, but also requires a combination of reasonable business models, resource management and understanding of market regulations.