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Merchandising
Merchandising is the practice which contributes to the sale of any products to retail customers.
173 Questions
Merchandising is a process where in you arrange a group of products that highlights those that you want to sell fast or those that you want people to get noticed, it is a way where in you design and make your product interesting for everyone to see.
What is factory merchandising?
the garment manufacturer will want the sophistication of the order including colorways. if the price is right for him and if he has the capacity to do the job he will accept the order.
price, date of delivery , quantity wil be considered when an order is been placed. if it is acceptable to him he will accept the order provided he has the capacity.
then the next is to book fabric and trims, a specification of this raw materials would be required the booking will take place and samples need to be tested.
merchandisers will conduct pre-production meeting and discuss the time and action plan.
if they need tey may renegotiate for a fresh delivery date with the buyer. but this is not a good practice. still this is common in industry .
receipt of purchase irder the manufacturer can set the production in his factory.
he will negotiate with the bank for a LC to import fabrics, when fabrics arrives the merchandiser will coordinate the textile testing and if necessary obtain buyers approval.
merchandiser will get different types of samples made at different intervals and obtain buyer's approval. the factory merchandiser is responsible for calculation of fabric consumption and trim consumption he will also need to be sure about the fabric quality.
merchandiser will send the fabrics to a testing house and get results checked for quality. he will arrange payments for suppliers. he will conduct time to time progress review meetings regrading the order, pilot and bulk runs,
What is merchandising service?
The simple answer is: the installation and setup just about everything you can see and feel in a retail store while shopping.
Every display, sign, fixture, shelf, kiosk, cabinet, checkout and fitting room needs to be installed in a retail environment. Typically it is done by a merchandising services company. We are hired to execute retail merchandising programs that are designed by and for retailers and consumer package goods manufactures.
For example, when a national cell phone retailer launches a new model of phone, they need a company with nationwide reach to install a new display for their latest phones and hang new sales posters and graphics to the walls and windows. Teams of merchandising representatives are sent to each store on a predetermined schedule to perform the work. They are usually in a store for only a few hours but the new merchandising materials are ready for shoppers when they leave.
Another example would be a store remodel. Most large retailers remain in the same location for many years. Periodically, they will give the store a visual merchandising facelift to freshen up the store environment. Store designers and visual merchandisers team up to create an extensive plan to remodel the store. A merchandising services company will come into the store for an extended period of time and remove old fixtures and displays. They will then install all new fixtures and shelving, install new displays and perform a "product set" throughout the store. A product set is the actual placement on the shelf or display according to specific diagram, commonly called a planogram. Once completely executed, the new store will match the design.
These are just a few of the capabilities an experienced merchandising services company can provide.
Accounting for merchandising business?
Accounting for merchandising businesses involves tracking the purchase and sale of goods, which typically includes inventory management, cost of goods sold (COGS), and revenue recognition. Merchandising businesses maintain an inventory account to record the cost of products purchased for resale. When items are sold, their cost is transferred to COGS, impacting the income statement. Additionally, proper accounting ensures accurate financial reporting and compliance with accounting standards.
Brand Merchandising is the ability to take a company logo or "brand" and effectively place it on products that are purchased or used by consumers. Brand Merchandising is a form of General Awareness and more successful companies utilize it.
What is facing in merchandising?
Facing in merchandising means pulling all the product that is not in the very front of the self to the front of the shelf. So there is no holes or spaces.
Well if you look at it by the basics you will see both use the same Net income = revenue - expenses. However the income statement for the service company subtracts the operating expenses from the revenues to arrive at net income. The merchandising company subtracts the cost of merchandising from the revenue to arrive at gross profit. It then subtracts all other operating expenses to arrive at net income.
What is mass merchandising concept?
it says that retailers should offer low prices to get faster turnover and greater slaes volumes by appealing to larger markets.
What does mainline mean in merchandising?
The term "mainline merchandising" is a reference to the product flow. Usually the main line begins with the production of the product and ends with the distribution of the product.
How to Get a Job in Fashion Merchandising?
Fashion is one the best careers to go into, if you have an eye for new trends. One of the careers in fashion that you need to have a good eye for trends is fashion merchandising. You have to be able to communicate well and negotiate with manufacturers. If you are interested in becoming a fashion merchandiser, there are a lot of places where you can find work, such as clothing stores and major companies. In order to get started in this field, you will need to go to a two or four-year college. It’s best to go to a school where you will get hands-on training. If you want to take it a step further, try going to a school that is located in either California or New York. These are the two major states for fashion. You will get an opportunity to work with major fashion retailers, while going to school. Once you graduate, your internship could become your full-time job.
Figure out what you want to do in fashion merchandising because there are so many fields that you can go into, such as sales, advertising, and fashion buying. In school, you will get a chance to work in at all levels of merchandising.
Apply to major fashion retailers that are hiring fashion merchandisers. In order to get your feet wet, most retailers will hire you as a salesperson first before you can move on up into fashion merchandising. Sometimes your employer will test you out and ask you to step in for someone at an event. This is your opportunity to shine.
Work hard at your internship. When you go to the right school, you will get a chance to do an internship. This is an opportunity to show the employer that you know what you’re doing. They will also critique you constantly, so that you can become better. Take all of this in, so you can become a better merchandiser. If the employer enjoys your work, they will more than likely offer you a position.
What do you think are the changing aspects of the economics telecommunications retail merchandising?
Yes, companies in both the service sector and the merchandising sector make choices between absorption costing and variable costing. Absorption costing includes all manufacturing costs, both fixed and variable, in the cost of goods sold, while variable costing includes only variable manufacturing costs. The choice between the two can significantly impact financial statements and tax liabilities, influencing management decisions and performance evaluation. Companies often select the method that aligns with their financial reporting needs and internal management strategies.
How do you spell merchandising?
That is the correct spelling of the word "merchandise" (wares, items for sale).
