In my previous post I mentioned about Keith Cunningham’s seminar. The lessons below are taken from his training and applied explicitly to retail purchasing.

1. First and foremost: it’s not about the product – some purchasing professional have an obsession with the product they are buying (or category of products). They think that if they personally like it when the item gets into to market/shelf the marketplace/costumer will love it too and it will sell like crazy. They fall in love with the product and forget to get market data or to make market research for that product/ category to back up what they have in their gut. They believe themselves a focus group when in fact they are not a relevant illustration/sample of the market. The key point Cunningham made: a great product does not necessarily equal money. It’s never what you do; it’s how you do it that will determine your success. And how you do it is about management, in this case product/category management. Yes, it’s not about the product, it’s about the market demand and the whole marketing process you use to communicate that product to the costumer.

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Mastery and Keith Cunningham

I had the chance to attend in 2008 a seminar about entrepreneurship of one of the world’s foremost and  most sought after business building experts: Keith J. Cunningham (http://www.keystothevault.com/)

If you ever read the famous best selling book “Rich dad, poor dad” by Robert Kiyosaki, you maybe know that a good part of the content of this book is inspired by Keith Cunningham, as he is the friend and mentor of the author.

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The answer to this question is the key to my idea of doing business. It is my personal answer, of course and it is the result of my own journey in retail, which started in ‘97. I was working as a salesman to support my studies (which, by the way, had nothing to do with retail, au-contraire). Afterwards, I spent a short and disappointing (financially mostly) period as a young promising engineer, but got back to the retail world relatively soon and luckily this prove to be a permanent and fulfilling career.

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Welcome!

Welcome! This is the first post on retailpurchasing.com

retailpurchasing.com is a blog offering information and advice in purchasing for retail owners, wholesalers and professional buyers.

My name is Bogdan Pasat. I got my first job in retail 14 years ago. Since then I grew from being a salesman to shop manager, etc. up to division purchasing manager controlling a yearly budget of 80 mil USD. Today I am back in sales and I am in charge with sales and marketing with a worldwide leading consumer electronics brand, managing the activity in two European countries.

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