Merchandise Planning

MERCHANDISE PLANNING AND MANAGEMENT Any business effort is preoccupied in planning its sell offerings. Effective trade planning is an big aspect of retailing. Incorrect planning of deal can lead to a very disastrous fact for retail business. Before making any merchandise plan, it is important that a retailer must know the meaning of many of the merchandise terminology: 1. Item refers to a unique pattern of good within a merchandise line. 2. Stock retention Unit (SKU) refers to one or more of a distinctive item. 3. Merchandise Classification is a grouping of goods that serve equal customer need and exhibit closely deal patterns. 4. human body relates to the number of different merchandise lines that are stocked by the retailer 5. Scrambled Merchandising. Some retailers follow a scramble merchandising which occurs when unrelated merchandise line are introduced into limited-line store. 6. multifariousness refers to the number of choice that are available within a particular merchandise line. THE PROBLEMS OF BUYING THE GOODS Customers nowadays are the beat out judge of what they want, what they will steal and from what source they will buy.

With these lieu and behavior of the consumer, the retailer is then concerned with the task of securing the merchandise that will be saleable and bring the profits to the stores. This could alone be accomplished if the retailer can identify all the way the basic problems in buying. What to buy. The problem of what to buy is determined by knowing what the customers needs are and at what price they are willing to pay. When and how much to buy. The problem of when to buy is a matter of timing purchases and determining the amount to buy at a certain point in time. The interrogate of when to buy must depend upon the merchandise to be sold. A selling calendar is a selling plan which includes an estimated sale and is frequently made some months before the beginning of the season. An guinea pig of a... If you want to get a full essay, order it on our website: Orderessay

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