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How is merchandising relevant to an entrepreneur?
In order to answer this I need to first define what is an entrepreneur. By definition an entrepreneur is someone who solves a problem or provide a solution for a profit. The key word here is profit.
Based on numerous research for an entrepreneur there are only 3 ways that you can increase your profit. You can argue all you want but there are only 3 ways you can do it. The 3 ways are:
1. Increase the number of clients that the entrepreneur has.
2. Increase the frequency that the clients spend with the entrepreneur.
3. Increase the amount that the clients spend with the entrepreneur.
If you look at the 3 ways listed above hence merchandising is definitely relevant to an entrepreneur. Through the proper and right merchandising campaign, an entrepreneur can effectively promote it's brand and increase it's number of clients resulting in more profit.
A wide range of merchandise can be used to encourage higher frequency of purchase from the same clients resulting also in more profits. And finally merchandise is a fantastic way for you to do up selling, cross selling and back end selling so that the entrepreneur can increase the amount a client will spend. This will definitely help to boost profit.
One of the best example would have to be McDonalds with their Happy Meals. They really milk is such that they produce merchandise with every possible hit movies or Cartoons.
In short, YES! Merchandising is very much relevant to an entrepreneur.
Wiki User
∙ 13y ago
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What is mass merchandising?
i dont get what mass merchandising is :)
What is best retail merchandising?
fashion merchandising
What is the difference between retailing and merchandising?
what is the diference between merchandising and retailing
What is difference between merchandising and visual merchandising?
Let me give you my little understanding about his two subjects. Merchandising is also called merchandise planning while visual merchandising is the art of implementing effective design ideas.
What is deference between merchandiser and merchandising?
A merchandiser is the person who does the job. Merchandising is the action.
What is an Internet Entrepreneur?
An Internet entrepreneur is someone who applies innovation to make a new businesses on the Internet. The meaning of an entrepreneur is a person who creates or has possession of a new idea property or business, Seems relevant.
Use entrepreneur in a sentence?
Based on the way he adapts new ideas to a relevant marketplace and the amount of money he is making I would definitely consider him an entrepreneur.
What are the type of merchandising in retail industry?
what are the types of merchandising what are the types of merchandising
What is mass merchandising?
i dont get what mass merchandising is :)
What is best retail merchandising?
fashion merchandising
Example of merchandising business?
example of merchandising business
What is the population of EMP Merchandising?
The population of EMP Merchandising is 2,007.
When was EMP Merchandising created?
EMP Merchandising was created in 1986.
Give example of merchandising business?
example of merchandising business
What is visual merchandising commonly known as in the retail industry?
it is commenly know as : product merchandising, retail display and merchandising design
What is the difference between retailing and merchandising?
what is the diference between merchandising and retailing
What is difference between merchandising and visual merchandising?
Let me give you my little understanding about his two subjects. Merchandising is also called merchandise planning while visual merchandising is the art of implementing effective design ideas.
