Elements and Performance Criteria
- Analyse market.
- Monitor customer requirements and evaluate market factors.
- Review performance of front-of-pharmacy product and service range to identify the demand for individual items and seasonal variations.
- Identify opportunities to improve pharmacy sales and services.
- Research and identify potential new products and services, evaluate supplierclaims, and refer recommendations to managing pharmacist where relevant.
- Identify market competition for specific products and services.
- Plan front-of-pharmacy product and service range.
- Assess existing pharmacy product and service range against pharmacy values and objectives, market analysis and sales performance.
- Identify display space requirements and optimum product or service mix according to market analysis.
- Update product range at regular intervals.
- Identify product lines to be deleted and take action to minimise adverse effects on profit.
- Consolidate stock as required to maximise sales potential.
- Monitor quality control.
- Introduce new products and services.
- Maximise profit.
- Calculate or estimate product range contributions against budget targets.
- Develop product range assessment checks and implement against budget targets.
- Maximise profit margins in negotiation with suppliers.
- Determine pricing policies for services and products according to stated net profit margin in pharmacy merchandising plan.
- Negotiate specifications for terms of trade.