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Merchandising can be termed as the planning, buying and the selling of merchandising .
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Define Merchandising as The analysis, planning, acquisition, handling and control of merchandise investments of a retail operation. Merchandising is the core of retailing.
The function of merchandising is an integral part of retailing and also one of the most challenging functions.
AMA define The planning involved in marketing the right merchandise at the right place at the right time in the right quantities at the right price.
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Achieving these five Right is the key to successful merchandising and many a times, this remains an elusive goal for most retailers. Merchandising management can be termed as Planning, analysis, acquisition, handling and control of the merchandise
Analysis: because retailers must be able to correctly identify their customers before they can ascertain consumer desires and their needs/requirements for making a good buying decision. Planning is important because merchandise to be sold in the future must be bought now. Acquisitions because the merchandise needs to be procured from others, either distributors or manufactures. Handling involves seeing that the merchandise is where it is needed and in the proper condition to be sold. Control is required since the function of merchandise involves spending money for acquiring products it is necessary to control the amount of money spent on buying
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Size of organisation
Merchandise to be carried
Merchandising function
Organisation Structure
Types of store
The merchandiser to be carried by a retailer largely determines the responsibilities of the merchandiser. Merchandise to be carried: The buying for basic merchandise is fairly different from buying fashion merchandise. A merchandisers who handling fashion products will need to spend more time in the market, and looking for the products which is more suitable for the customers. Organization structure that the retail organization adopts also affects the merchandising function.
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Co-ordinating: Merchandise managers supervise the work of more than one department.
They need to coordinate the buying effort in terms of how well it fits in with the store image and with the other products being bought by other buyers.
Controlling: assessing the departments/sections performance , is a also part of the merchandise managers Job.
This includes evaluated on the basis of net sale, maintain mark up percentage, gross margin % and stock turn
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1. 2. 3. 4. 5.
Developing the merchandising strategies for the product line Planning and selecting merchandise assortments Vendor Selection Pricing of the merchandise Inventory Management
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The design and layout of the store are a means of communicating the image of the retail store.
The environment which is creates in the retail store, is a combination of the exterior look of the store, the store interiors, the atmosphere in the store and the events, promotions and the themes.
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The overall look of a store and the series of mental pictures and feelings it evokes within the beholder. For the retailer, developing a powerful image provides the opportunity to embody a single message, stand out from the competition and be remembered.
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Parking
Location
Store design
Store theme
Target Customers
Access
Merchandise Mix
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Visual merchandising Can be termed as the orderly, systematic, logical and intelligent way of putting stock on the floor
VM is the art of presentation, which puts the merchandise in focus. It educates the customers, creates desire and finally augments the selling process.
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Decline Lowincome
Variety
Greater variety
Less variety
Penetration
Limited or extensive
Fewer or no retailers
Price
Penetration or skimming
Lower prices
Promotion
Persuasive
Competitive
Limited
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