What is Merchandising
Merchandising comes from the word merchandise. Merchandise means commodities or goods to be purchased and sold. The word merchandising means the activity in developing the sale of goods.
The activities include
- working very closely with buyers/seller and determining the range of merchandise/goods to be sold
- buying them at the right time
- calculating their price
- taking responsibility for the promotion, display, sales forecast, and stock levels
- donation policy guidelines to buyer
- producing current sales figures
- producing sales history reports
- determining a strategy with the Category/Merchandise Manager
- monitoring stock management & allocation to stores
- raising purchase orders to match the range plan from buyers
- developing detailed spreadsheets for the buyers
- planning and financial control
- ensuring purchase order raised to budgets
- negotiating cost prices with factories/buyers
- approving pre-production samples
- monitoring pre-production/production
- organizing shipping documents
Actually, a merchandiser is accountable for almost everything-from order exploration to shipment and finally payment realization. Merchandising means to organize all the required raw materials and to make the commodities ready to sell them to customers. Work, work and work – all day long. Handling 40/45 orders at a time.
The activity to develops the sale of accessories at retail. Merchandising activities may involve display techniques, free samples, on-the-spot accomplishment, pricing, shelf talkers, special offers, and another point-of-sale system.
The terms merchandising is usually ancient within the dealings industry and denotes all marketing and sales annoyance activities around POS: diagram, creation, preferment, care and training of the sales staff. A merchandiser is someone who is always connected in business promotion by buying and selling of accessories.
In Asian countries, such as India, this term is more conterminal with activities right from ideal and idea concept to dispatching of the shipment. It is a job description that includes leading and working with various departments within the organization, suppliers, and buyers to deal with timely deadlines and received quality levels.