Retailers must make competent decisions about what merchandise to buy, how much to buy, and when to buy it. The merchandise selection communicates the type of company to consumers and allows stores to differentiate themselves. Merchandise management focuses on planning and controlling retailer inventories by balancing financial requirements with a merchandise purchasing strategy. It involves acquiring, handling, and monitoring merchandise categories for a retail organization. Retailers use various methods to plan and calculate inventory levels like basic stock, percentage variation, weeks' supply, and stock-to-sales methods. Visual merchandising is the art of product presentation that puts merchandise in focus to educate and create desire in customers.
This presentation gives an overview about the concept of Category Management in Retail. It covers topic such as Visual Merchandising, Planogram, CM in Grocery Store vs Apparel Store
Retail Management Notes, Basics of Retail Management, Classification of Retailers, Types of Retailers, Scope of Retailing, Functions of Retailers, Role of Retailers in Distribution Channel, Indian retailscape, organized and Unorganized Retailers,
Retail Shopper Behaviour, process of consumer buying in retail, Need recognition, stimulating need recognition, information search, types of buying decision
This presentation gives an overview about the concept of Category Management in Retail. It covers topic such as Visual Merchandising, Planogram, CM in Grocery Store vs Apparel Store
Retail Management Notes, Basics of Retail Management, Classification of Retailers, Types of Retailers, Scope of Retailing, Functions of Retailers, Role of Retailers in Distribution Channel, Indian retailscape, organized and Unorganized Retailers,
Retail Shopper Behaviour, process of consumer buying in retail, Need recognition, stimulating need recognition, information search, types of buying decision
The retail strategic planning process starts with the identification of store's mission for its existence and hence the scope of the retail store. The mission of a store entails identifying the goods and services that will be offered to customers
The retail strategic planning process starts with the identification of store's mission for its existence and hence the scope of the retail store. The mission of a store entails identifying the goods and services that will be offered to customers
Events differ from other products. It is a combination of services and goods. This ppt takes you through different facets of event marketing channels, motivation involved and marketing mix involved in Event Marketing.
Assimilated a retail marketing plan that was centered around a department store that sells high quality clothing merchandise. This marketing plan was developed by my team at Old Dominion University during my junior year. It included the retail format, target market, market analysis, SWOT analysis of the market, a competitive analysis, a competitive advantage, a retail strategy, store management, and a financial projection.
RTMNU 4th sem MBA
Subject - Retail Sales Management & Services Marketing [ Marketing ]
Module 3
RETAIL MERCHANDISING AND CRM
BY Jayanti R Pande
MBA free notes pdf download
JRP MBA notes
Free RTMNU Marketing notes by Jayanti Pande
Any activity that aids in the sale of goods to a retail customer is known as merchandising. In a
retail setting, merchandising is the process of creatively exhibiting objects that are for sale in
order to persuade buyers to buy additional items or products.
Visual display merchandising in retail refers to the sale of goods through product selection,
design, pricing, packaging, and display that encourages consumers to spend more.design, pricing, packaging, and display that encourages consumers to spend more. Disciplines
and discounts, product displays and physical presentation, as well as decisions regarding which
products to present to whom clients when, are all included in this. Creatively tying in
complementary items or accessories is frequently a wonderful approach to get customers to buy
more in a retail scenario.
Retail Marketing and Advertising
Retail Marketing Strategies;
Strategic Positioning;
Retail marketing mix;
Customer relationship management;
Direct marketing;
Micro marketing in retailing, and
Advertising in retailing.
Search Engine Marketing - Competitor and Keyword researchETMARK ACADEMY
Over 2 Trillion searches are made per day in Google search, which means there are more than 2 Trillion visits happening across the websites of the world wide web.
People search various questions, phrases or words. But some words and phrases are searched
more often than others.
For example, the words, ‘running shoes’ are searched more often than ‘best road running
shoes for men’
These words or phrases which people use to search on Google are called Keywords.
Some keywords are searched more often than others. Number of times a keyword is searched
for in a month is called keyword volume.
Some keywords have more relevant results than others. For the phrase “running shoes” we
get more than 80M relevant results, whereas for “best road running shoes for men” we get
only 8.
The former keyword ‘running shoes’ has way more competition from popular websites to
new and small blogs, whereas the latter keyword doesn’t have that much competition. This
search competition for a keyword is called search difficulty of a keyword or keyword
difficulty.
In other words, if the keyword difficulty is ‘low’ or ‘easy’, there won’t be any competition
and if you target such keywords on your site, you can easily rank on the front page of Google.
Some keywords are searched for, just to know or to learn some information about something,
that’s their search intention. For example, “What shoe size should I choose?” or “How to pick
the right shoe size?”
These keywords which are searched just to know about stuff are called informational
keywords. Typically people who are searching this type of keywords are top of a Conversion
funnel.
Conversion funnel is the journey that search visitors go through on their way to an email
subscription or a premium subscription to the services you offer or a purchase of products
you sell or recommend using your referral link.
For some buyers, research is the most important part when they have to buy a product.
Depending on that, their journey either widens or narrows down. These types of buyers are
Researchers and they spend more time with informational keywords.
Conversion is the action you want from your search visitors. Number of conversions that you
get for every 100 search visitors is called Conversion rate.
People who are at different stages of a conversion funnel use different types of keywords.
In this presentation, Danny Leibrandt explains the impact of AI on SEO and what Google has been doing about it. Learn how to take your SEO game to the next level and win over Google with his new strategy anyone can use. Get actionable steps to rank your name, your business, and your clients on Google - the right way.
Key Takeaways:
1. Real content is king
2. Find ways to show EEAT
3. Repurpose across all platforms
How to Run Landing Page Tests On and Off Paid Social PlatformsVWO
Join us for an exclusive webinar featuring Mariate, Alexandra and Nima where we will unveil a comprehensive blueprint for crafting a successful paid media strategy focused on landing page testing.With escalating costs in paid advertising, understanding how to maximize each visitor’s experience is crucial for retention and conversion.
This session will dive into the methodologies for executing and analyzing landing page tests within paid social channels, offering a blend of theoretical knowledge and practical insights.
The Pearmill team will guide you through the nuances of setting up and managing landing page experiments on paid social platforms. You will learn about the critical rules to follow, the structure of effective tests, optimal conversion duration and budget allocation.
The session will also cover data analysis techniques and criteria for graduating landing pages.
In the second part of the webinar, Pearmill will explore the use of A/B testing platforms. Discover common pitfalls to avoid in A/B testing and gain insights into analyzing A/B tests results effectively.
Short video marketing has sweeped the nation and is the fastest way to build an online brand on social media in 2024. In this session you will learn:- What is short video marketing- Which platforms work best for your business- Content strategies that are on brand for your business- How to sell organically without paying for ads.
Core Web Vitals SEO Workshop - improve your performance [pdf]Peter Mead
Core Web Vitals to improve your website performance for better SEO results with CWV.
CWV Topics include:
- Understanding the latest Core Web Vitals including the significance of LCP, INP and CLS + their impact on SEO
- Optimisation techniques from our experts on how to improve your CWV on platforms like WordPress and WP Engine
- The impact of user experience and SEO
Mastering Multi-Touchpoint Content Strategy: Navigate Fragmented User JourneysSearch Engine Journal
Digital platforms are constantly multiplying, and with that, user engagement is becoming more intricate and fragmented.
So how do you effectively navigate distributing and tailoring your content across these various touchpoints?
Watch this webinar as we dive into the evolving landscape of content strategy tailored for today's fragmented user journeys. Understanding how to deliver your content to your users is more crucial than ever, and we’ll provide actionable tips for navigating these intricate challenges.
You’ll learn:
- How today’s users engage with content across various channels and devices.
- The latest methodologies for identifying and addressing content gaps to keep your content strategy proactive and relevant.
- What digital shelf space is and how your content strategy needs to pivot.
With Wayne Cichanski, we’ll explore innovative strategies to map out and meet the diverse needs of your audience, ensuring every piece of content resonates and connects, regardless of where or how it is consumed.
When most people in the industry talk about online or digital reputation management, what they're really saying is Google search and PPC. And it's usually reactive, left dealing with the aftermath of negative information published somewhere online. That's outdated. It leaves executives, organizations and other high-profile individuals at a high risk of a digital reputation attack that spans channels and tactics. But the tools needed to safeguard against an attack are more cybersecurity-oriented than most marketing and communications professionals can manage. Business leaders Leaders grasp the importance; 83% of executives place reputation in their top five areas of risk, yet only 23% are confident in their ability to address it. To succeed in 2024 and beyond, you need to turn online reputation on its axis and think like an attacker.
Key Takeaways:
- New framework for examining and safeguarding an online reputation
- Tools and techniques to keep you a step ahead
- Practical examples that demonstrate when to act, how to act and how to recover
Digital marketing is the art and science of promoting products or services using digital channels to reach and engage with potential customers. It encompasses a wide range of online tactics and strategies aimed at increasing brand visibility, driving website traffic, generating leads, and ultimately, converting those leads into customers.
https://nidmindia.com/
AI-Powered Personalization: Principles, Use Cases, and Its Impact on CROVWO
In today’s era of AI, personalization is more than just a trend—it’s a fundamental strategy that unlocks numerous opportunities.
When done effectively, personalization builds trust, loyalty, and satisfaction among your users—key factors for business success. However, relying solely on AI capabilities isn’t enough. You need to anchor your approach in solid principles, understand your users’ context, and master the art of persuasion.
Join us as Sarjak Patel and Naitry Saggu from 3rd Eye Consulting unveil a transformative framework. This approach seamlessly integrates your unique context, consumer insights, and conversion goals, paving the way for unparalleled success in personalization.
The session includes a brief history of the evolution of search before diving into the roles technology, content, and links play in developing a powerful SEO strategy in a world of Generative AI and social search. Discover how to optimize for TikTok searches, Google's Gemini, and Search Generative Experience while developing a powerful arsenal of tools and templates to help maximize the effectiveness of your SEO initiatives.
Key Takeaways:
Understand how search engines work
Be able to find out where your users search
Know what is required for each discipline of SEO
Feel confident creating an SEO Plan
Confidently measure SEO performance
Mastering Local SEO for Service Businesses in the AI Era is tailored specifically for local service providers like plumbers, dentists, and others seeking to dominate their local search landscape. This session delves into leveraging AI advancements to enhance your online visibility and search rankings through the Content Factory model, designed for creating high-impact, SEO-driven content. Discover the Dollar-a-Day advertising strategy, a cost-effective approach to boost your local SEO efforts and attract more customers with minimal investment. Gain practical insights on optimizing your online presence to meet the specific needs of local service seekers, ensuring your business not only appears but stands out in local searches. This concise, action-oriented workshop is your roadmap to navigating the complexities of digital marketing in the AI age, driving more leads, conversions, and ultimately, success for your local service business.
Key Takeaways:
Embrace AI for Local SEO: Learn to harness the power of AI technologies to optimize your website and content for local search. Understand the pivotal role AI plays in analyzing search trends and consumer behavior, enabling you to tailor your SEO strategies to meet the specific demands of your target local audience. Leverage the Content Factory Model: Discover the step-by-step process of creating SEO-optimized content at scale. This approach ensures a steady stream of high-quality content that engages local customers and boosts your search rankings. Get an action guide on implementing this model, complete with templates and scheduling strategies to maintain a consistent online presence. Maximize ROI with Dollar-a-Day Advertising: Dive into the cost-effective Dollar-a-Day advertising strategy that amplifies your visibility in local searches without breaking the bank. Learn how to strategically allocate your budget across platforms to target potential local customers effectively. The session includes an action guide on setting up, monitoring, and optimizing your ad campaigns to ensure maximum impact with minimal investment.
The digital marketing industry is changing faster than ever and those who don’t adapt with the times are losing market share. Where should marketers be focusing their efforts? What strategies are the experts seeing get the best results? Get up-to-speed with the latest industry insights, trends and predictions for the future in this panel discussion with some leading digital marketing experts.
2. In order to be successful, retailers must make competent
decisions over what is to be bought, in what quantities
and at what time. The overall choice of merchandise also
presents a clear message to consumers about the type of
company they are purchasing from. As such the selection
and presentation of merchandise enables a key source of
difference to exist which will allow one store to
differentiate itself from another.
3. Merchandise
Main objective of the store layout is to maximize
the interface between customers and
merchandise. It provides easy accessibility to the
customers to view the offerings of the store.
4. What is Merchandise Management?
Merchandise Management focuses on the planning and
controlling of the retailer’s inventories. The role has to
balance the financial requirements of the company with a
strategy for merchandise purchasing. We believe the
complex role of merchandise management can be defined
as:
The planning and implementation of the acquisition,
handling and monitoring of merchandise categories for an
identified retail organization.
The outcome of merchandising is a set of “rights” which
are achieved through the merchandising process.
5.
6. Merchandise Plan Consideration
1. Marketing Consideration,
2. Merchandise Strategy Option,
3. Type of Customer Base,
4. Financial Consideration,
5. Merchandise Assortment search
Inventory Turnover :
Net Sales/Average Inventory at Retail store
Cost of Merchandise Sold/ Average Inventory at cost
Units sold / Average inventory at retail store
7.
8. Methods of Planning and Calculating
Inventory Levels
Beginning of Month Stock =
Planned Monthly sales + Basic stock
Average stock for season =
Total Planned sales for season / Estimated Inventory Turnover
Average Monthly Sales =
Total Planned sales for season/ No. of Months
9.
10. Beginning of month @ retail =
Average stock for season + planned monthly sales +
average monthly sales
Week’s supply Method =
Beginning of month stock (BOM) =
Average sales × No. of weeks to be stocked
Average weekly sales =
Estimated total sales for the period / Stock turnover rate for
the period
11. It is an approach to maintain a specified ratio of goods on hand to sales.
Stock to Sales ratios can be calculated from a retailers own historical
results or from external sources as long as these are reliable.
Shrinkage: is the difference between the amount of merchandise that is
reported on the inventory stock system and what is available for sale or on
the shelves.
Markdowns: are lowering of the prices of the merchandise so that the
reduction (markdown) acts as a promotion: for special sales periods or for
moving sluggish lines, because of damage or soiling of merchandise, due to
end of range offers, or because of greater price competition from
competitors or manufacturers who may have made adjustment to their
prices.
Employee discounts: reduction and offer value to the employee in working
at the store.
Stock-to-Sales Method:
12.
13. Role of Merchandiser
The merchandiser is responsible for planning and controlling and
operational activity. The Merchandiser is responsible for planning
and controlling stock ranges and replenishment.
Successful execution of the role will require close liaison with, and
support for smooth supply for the retail buyer .
Planning Includes:
Understanding the target market groups,
Agreeing regional and branch sales forecasts,
Collecting Information on competitors and any new branch
plans,
Taking into consideration branding and corporate policy,
Agreeing merchandise budget,
Liaison and initial discussion with buyer(s).
14. The merchandiser, as part
of the above planning
approach, needs to contend
with the extent to which
demand for product lines
fluctuates. The
merchandiser has to have
intimate knowledge of
customers and the type of
demand for the product
being sold.
The Fashion Product
Staple Merchandise
Seasonal Merchandise
Managing variations in
demand:-
15. Category Management
Category management is related to decision over groups of
products that are selected and placed to satisfy use occasions
or consumption patterns. This is based upon strategic retailing
principles that attempt to maximize sales and profits and may
also include trade patterns.
Unsold Merchandise at the end of a trading day represents an
opportunity that has been lost for ever. The category offering
has to be managed to maximize sales and profits. This relies
on creating ranging and merchandising, pricing, new product
introductions and promotions which are base upon the
approach to marketing focused upon the consumer.
16. Category Management
Category management would be relatively straightforward if sales volumes
remained constant over time, which of course they do not. i.e. retailers
need to plan fulfillment for promotions to meet customer expectations
efficiently.
Karona (1998) indicated that category management is now about creating
closer relationships between suppliers and retailers.
Challenges faced by Retailers:
Product development and sourcing
Supplier management
Buying
Merchandising
Distribution
Retail operations
17. Range Planning
Width and Depth :
A retailers stock range can be described in terms of
width and depth , with the extent of each
determined by company policy. This is sometime
assortment.
Width will relate to the number of categories
however, depth relates to the sizes, styles, and prices
with in a product class.
18. Developing the range planning and
merchandise allocation plan
It requires
Understand the selection process of consumers
Deciding upon core and seasonal merchandise
Agreeing the range – e.g. style, size, and color mix
– depth and width
Taking into consideration the sales-to-stock level
targets
Relating the range plans to individual stores and
possible promotional plans
19. Range Planning Cont.
Store grading: Store grading is normally conducted on the basis of floor
sales area.
Narrow and Deep
Can be Modified in available space
Square
Broad and Shallow
20.
21. Space Allocation
Fixture Layout
In store Layout
Layout of the store has to be strategically designed in
order to make effective use of merchandise and
passage to draw customers attention on store’s
offerings. i.e. Home lien items, Electronic items,
Mobile zone, furniture, Men ladies & kids wear, Foot
wear, Toys etc.
Range Planning Cont.
22. Basis of Retail Merchandising
• Product and merchandising management is key activity in the
management of retail business.
• The primary function of the retailing is to sell Merchandise.
• One of the most strategic aspects of the retail business is to
decide the merchandise mix and quantity to be purchased .
• Merchandising can be termed as the planning, buying and the
selling of merchandising
23. The analysis, planning, acquisition, handling and control of
merchandise investments of a retail operation.”
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.
Retail Merchandise Management
24. Retail Merchandise Management
• 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
• The planning involved in marketing the right
merchandise at the right place at the right time in the
right quantities at the right price.
27. Buying Process
Some considerations:
Manufacturer versus Wholesaler as vendor
Determine suitability of product - quality, colors,
durability, etc.
Determine suitability of Distribution - available,
order time, consistency, etc.
Price
Promotional support
Service support
28. Methods of Merchandise Planning
MerchandisePlanning
Method
Gross margin Return
on Inventory (GMROI)
Inventory Turnover
Basic Stock Method
Percentage Variation
Method
Weeks’ supply Method
Stock to Sales Method
29. Methods of Merchandise Planning
Gross margin Return on Inventory (GMROI)
GMROI = Gross Margin Percent x sales to stock ratio
= (gross margin/net sales )x
(net sales/average inventory at cost)
= gross margin/average inventory at cost
30. Methods of Merchandise Planning
Inventory Turnover
Inventory turnover = Net Sales/Average inventory at retail
Inventory turnover = Cost of goods sold/Average inventory
at cost
Average inventory = Month1 + Month2 + Month 3
+…/Number of months
31. Methods of Merchandise Planning
Basic Stock Method
Average monthly sales for the season = Total planned sales for the
season/Number of months in the season
Average stock for the season = Total planned sales for the
season/Estimated inventory turnover rate for the season
Basic stock = Average stock for the season – Average monthly sales
for the season
Beginning-of-Month (BOM) = Basic stock + Planned monthly sales
32. Methods of Merchandise Planning
Percentage variation method (PVM)
The (PVM) can be calculated as follows:
BOM stock =Average stock for season X ½[1 + (Planned
sales for the month/Average monthly sales)]
33. Methods of Merchandise Planning
Weeks’ supply method (WSM):
Number of weeks to be stocked = Number of weeks in the
period/Stock turnover rate for the period
Average weekly sales = Estimated total sales for the
period/Number of weeks in the period
BOM stock = Average weekly sales X Number of weeks to be
stocked
34. Methods of Merchandise Planning
Stock-to-sales method (SSM)
Average BOM stock-to-sales ratio for the season = Number
of months in the season/Desired inventory turnover rate
36. Merchandise Ordering
Traditional Purchase Order System (often adversarial relationship)
Quick Response System - uses computer technology (partnership
of vendor and retailer)
Electronic Data Interchange - technology connecting retailer and
vendor in a quick response system
Just-in-Time Delivery Systems - Reduces inventory requirements
Direct Store Delivery (DSD) - no warehouse; vendor delivers
directly to store
37. Merchandise Handling
Stocking of merchandise can be at store or at warehouse
In either case, receiving function must inspect, verify and log in
deliveries and compare to vendor invoice
Price marking of product must be performed, if required
40. 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.