Elements and Performance Criteria
- Analyse market.
- Identify pharmacy customer groups and analyse their product and service preferences.
- Analyse sales and stock data to identify demand for products and seasonal variations.
- Identify and use opportunities to improve pharmacy product and service range.
- Research and identify potential new products and services.
- Evaluate supplier claims, and refer recommendations to pharmacist.
- Identify market competition for specific products and services.
- Plan front of pharmacy product and service range.
- Analyse existing pharmacy product and service range against pharmacy values and objectives, market analysis and sales performance.
- Document specifications clearly and accurately for new merchandise quality.
- Determine display space requirements and optimum product or service mix according to market analysis.
- Plan for updating of product range at regular intervals.
- Identify product lines to be deleted and take action to minimise adverse effects on profit.
- Consolidate stock to maximise sales potential.
- Maximise profit.
- Calculate or estimate product range contributions against budget targets.
- Develop product range assessment checks and implement against budget targets.
- Negotiate cost of supply and terms of trade to maximise profit margins.
- Develop and document complete and accurate records of negotiations and agreements to appropriate personnel.
- Determine pricing policies for products and services according to nett profit margin stated in pharmacy merchandising plan.
- Clearly document pricing policies for use by pharmacy staff.
- Introduce new products and services.
- Monitor quality.