Final answer:
Great store execution entails effective inventory management and organized displays. It is critical for retail success, as demonstrated by Amazon's production model and cost structure, which enable competitive pricing. Poor management in areas like customer service and employee satisfaction can negatively impact a business.
Step-by-step explanation:
Part of great store execution includes effective inventory management and organized displays, not ignoring customer needs, inconsistent product pricing or overlooking employee satisfaction. For example, firms like Amazon have succeeded due to their production model and cost structure, which allows for competitive pricing. Understanding what to sell, at what output, and price are critical components in achieving retail success, whether for a large retailer like Amazon or a smaller business such as your corner deli.
Effective inventory management ensures that products are in stock and readily available to customers, while organized displays make it easier for customers to find what they are looking for, potentially boosting sales. In contrast, ignoring customer needs, inconsistent pricing, and not taking care of employee satisfaction can detrimentally affect store execution and the overall success of the business.