What about merchandising?

Answer 1

• Merchandising is the process of increasing visibility and appeal of products to increase sale ability

• It includes product packaging, placement, promotion and "special pricing"

• One other form of merchandising is using the brand power of one organization to sell products of another.(sports personalities and entertainment cos lending their brand names to various products)

• Mostly merchandising focuses on presentation of products including displays and special in store storage and packaging(gift bags, racks, trays), posters, danglers, special cards/brochures

• It also features discount schemes along with the pricing and packaging features

• Outdoor signage and on shop and in shop signage could also feature as part of merchandising

Planning and evaluation

• Some aspects like signage should be considered as longer term and should feature as investment

• Others including displays and special packaging and pricing initiatives would be shorter term and should be expensed

• All expenditure should be justified in terms of real sales increase(not changing the timing of purchase by customer as in most festival sales)

• Test marketing and post purchase surveys of customers should be the basis of evaluation

• One tip is that all merchandising should keep the customer in mind. Need to avoid feeding the creative instincts or egos of marketing personnel in the company

• Merchandising should be the joint responsibility of Marketing and Sales sub functions of the larger Marketing function