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Merchandising
From Wikipedia, the
free encyclopedia
In the broadest sense, merchandising is any practice which contributes to the sale of products to a
retail consumer.
At a retail in-store level, merchandising refers to the variety of products
available for sale and the display of those products in such a way that it
stimulates interest and entices customers to make a purchase.
In retail commerce, visual
display merchandising means merchandise sales using product design, selection, packaging, pricing, and display that stimulates consumers to
spend more. This includes disciplines and discounting, physical presentation of products and
displays, and the decisions about which products should be presented to which
customers at what time.
Merchandising helps to understand the ordinary dating notation
for the terms of payment of an invoice.[clarification needed] Codified discounting solves pricing problems
including markups and markdowns. It helps to find the net price of an item
after single or multiple trade discounts and can calculate a single discount
rate that is equivalent to a series of multiple discounts. Further, it helps to
calculate the amount of cash discount for which a payment qualifies.
Contents
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The annual cycle of merchandising differs between countries and
even within them, particularly relating to cultural customs like holidays, and
seasonal issues like climate and local sporting and recreation. Events such as Chinese festivals and Japanese festivals are incorporated in an annual cycle of shop decorations and
merchandise promotion.
In the United States, the basic retail cycle begins in early
January with merchandise for Valentine's Day, which is not until mid-February. Presidents' Day sales are held shortly thereafter. Following this, Easter is the major holiday, while springtime
clothing and garden-related merchandise is already arriving at stores, often as
early as mid-winter (toward the beginning of this section, St. Patrick's Day merchandise, including green items and products pertaining to
Irish culture, is also promoted). Mother's Day and Father's Day are next, with graduation gifts (typically small consumer electronics like digital cameras) often being marketed as "dads and
grads" in June (though most college semesters end in May; the grads
portion usually refers to high school graduation, which ends one to two weeks
after Father's Day in many U.S. states). Summer merchandise is next, including
patriotic-themed products with the American flag, out by Memorial Day in preparation for Independence Day (with Flag Day in between). By July, back-to-school is on the shelves and autumn merchandise is already arriving,
and at some arts and crafts stores, Christmas decorations. (Often, a Christmas in July celebration is held around this time.) The
back-to-school market is promoted heavily in August, when there are no holidays
to promote. By September, particularly after Labor Day, summer merchandise is on final closeout and overstock of school supplies is marked-down some as
well, and Halloween (and often even more
of the Christmas) merchandise is appearing. As the Halloween decorations and
costumes dwindle in October, Christmas is already being pushed on consumers,
and by the day after Halloween retailers are going full-force with advertising,
even though the "official" season doesn't start until the day after Thanksgiving.
Christmas clearance sales begin even before Christmas at many retailers,
though others begin on the day after Christmas and continue on at least until New Year's Day but sometimes as far out as February.
Merchandising also varies within retail chains, where stores in places like Buffalo might carry snow blowers, while stores in Florida and southern California might instead carry beach clothing and barbecue grills all year.
Coastal-area stores might carry water skiing equipment, while ones
near mountain ranges would likely have snow skiing and snowboarding gear if there are ski areas nearby.
In Eastern Europe, particularly in Russia, the term "merchandising" is
commonly used within the trading industry and denotes all marketing and sales stimulation activities around PoS
(point of sale): design, creation, promotion, care, and training of the sales
staff. A merchandiser is someone who is continuously involved in business
promotion by buying and selling of goods. In Asian countries, such as India,
this term is more synonymous with activities right from sampling and idea
conception to dispatching of the shipment. It is a job description that
involves leading and working with different departments within the
organization, suppliers and buyers to deal with timely deadlines and accepted
quality levels.
In the supply chain,
merchandising is the practice of making products in retail outlets available to
consumers, primarily by stocking shelves and displays. While this used to be done
exclusively by the stores' employees, many retailers have found substantial
savings in requiring it to be done by the manufacturer, vendor, or wholesaler
that provides the products to the retail store. In the United Kingdom there are
a number of organizations that supply merchandising services to support retail
outlets with general stock replenishment and merchandising support in new
stores. By doing this, retail stores have been able to substantially reduce the
number of employees needed to run the store.
While stocking shelves and building displays is often done when
the product is delivered, it is increasingly a separate activity from
delivering the product. In grocery stores, for example, almost all products
delivered directly to the store from a manufacturer or wholesaler will be
stocked by the manufacturer's/wholesaler's employee who is a full-time
merchandiser. Product categories where this is common are Beverage (all types,
alcoholic and non-alcoholic), packaged baked goods (bread and pastries), magazines
and books, and health and beauty products. For major food manufacturers in the
beverage and baked goods industries, their merchandisers are often the single
largest employee group within the company. For nationwide branded goods
manufacturers such as The Coca-Cola Company and PepsiCo,
their respective merchandiser work forces number in the thousands.
In marketing,
one of the definitions of merchandising is the practice in which the brand or
image from one product or service is used to sell another. Trademarked brand names, logos, or character images are
licensed to manufacturers of products such as toys or clothing, which then make
items in or emblazoned with the image of the license, hoping they'll sell
better than the same item with no such image.[1] For the owners of the IP (intellectual property) in question, merchandising is a very popular source of
revenue, due to the low cost of letting a third party manufacture the
merchandise, while the IP owners collect the merchandising fees.
Merchandising for children is most prominently seen in
connection with films and videogames, usually those in current
release and with television shows oriented towards
children.
Merchandising, especially in connection with child-oriented
films and TV shows, often consists of toys made in the likeness of the show's
characters (action figures) or items which they use. However, sometimes it can
be the other way around, with the show written to include the toys, as
advertising for the merchandise. The first major example of this was the TV
show "G.I. JOE A Real American Hero.," produced by Hasbro in the
early 1980s, but this practice has been common in children's broadcasting ever
since.
Sometimes merchandising from a television show can grow far
beyond the original show, even lasting decades after the show has largely
disappeared from popularity. In other cases, large amounts of merchandise can
be generated from a pitifully small amount of source material (Mashimaro).
The most common adult-oriented merchandising is that related to professional sports teams (and their players).
A smaller niche in merchandising is the marketing of more
adult-oriented products in connection with similarly adult-oriented films and
TV shows. This is common especially with the science fiction and horror genres. (Example: McFarlane Toys) Occasionally, shows which were intended more
for children find a following among adults, and you can see a bit of a
crossover, with products from that show oriented towards both adults and
children. (Gundam model kits) An early example of this phenomenon was the
cartoon character Little Lulu, who became licensed to products for adults, such
as Kleenex facial tissue.[2]
Sometimes a brand of non-media products can achieve enough
recognition and respect that simply putting its name or images on a completely
unrelated item can sell that item. (An example would be Harley-Davidson branded clothing.)
Another way companies sell merchandise is the prop replica market. Mainly focused on fan-made articles,
prop replicas are becoming more and more famous as users tend to collect those
pieces of movie memorabilia that big companies do not mass-produce, reaching
even higher levels of quality than certain 'licensed' replicas.
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This page was last
modified on 30 October 2016, at 21:10.
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