DEFINATION OF MERCHNDISINGAccording to the American Marketing Association“Merchandising is the Planning involved in the Marketing in the right merchandise in right Place at the right time in the right quantities at the right prices. ” “Planning and implementing of the acquisition, handling and monitoring of merchandise categories for an identified retail organization”
IMPORTANCE OF MERCHANDISING Role in Marketing Plan Customer Attention. Build Business Image. Create an Environment. Grouping into category. Meet Future Demand.
FUNCTIONS OF MERCHANDISING Analysis of Market opportunity. Creation of Merchandising Plan. Selecting Supply Base. Product Development and supplier Performance Management. Presentation of Merchandise at Point of Sale.
STEPS IN MERCHANDISINGPLANNING1. Gathering information.2. Selecting and interacting with Merchandise Source.3. Evaluation.4. Negotiation.5. Concluding purchases.6. Receiving and stocking merchandise.7. Reordering .8. Re-evaluation.
CATEGORY MANAGEMENT Definition of Category “A Category is usually defined as a group of mutually substitute items.” According to Nielsen “A category Management is Process that involves managing product category as the business unit and customizing them to satisfy customers needs.” According to Business Dictionary, Category Management is a marketing strategy in which a full line of product (instead of the individual product or brands) is manage as a strategic business.
PROCESS OF CATEGORYMANAGEMENT Category Definition. Category Role. Category Assessment. Category Scorecard. Category Strategy. Category Tactics. Plan Implementation.
PRIVATE LABEL BRANDS Advantages of Private Label Brand. To the Manufacturer. To the Retailer.