Lessons in Retail Management from Macchans
Six Interesting lessons in Management from the old Maccheevali - 'M' 1. Identify your market and understand deep consumer behaviours. 'Macchivalees' - M knew which customer would afford what stock and would shoot for her sale in sections that could afford. And vice-versa 2. Some people bargain out of habit. When Ms quote, they themselves know beyond which point they should not bargain. Indulge and make your customer feel, he has won !!! 3. Loyalty is important. When loyal buyer buys, a few more fishes or other special home-made cooking masalas would tacitly be given as additional bonus ! Make your customer believe he is adored. 4. Whilst cash and carry is the rule, Ms offer credit within limit to their loyal clients. Building a relationship in times of need critical. 5. Using sales Psychology, the Ms would tacitly tell the couple what the neighbour bought and at what price. Using Comparisons effectively. 6. Closer to Diwali they would home cook special dishes & bring it for their loyal customers. Sense of client gratitude & 'sampling' helps future sales. I tasted my first fish-biryani this way. I now eat it always, when available. Who says you need an MBA...common sense and natural psychology helps.