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Slide 1Chapter ObjectivesMerchandisingMerchandising PhilosophyScope of Merchandising ResponsibilityFigure 14-1: Dick’s Merchandising PhilosophyMicromerchandisingCross-MerchandisingSlide 9Merchandising and Store Functions PerformedMerchandising and Store Functions Performed (cont.)Slide 12Slide 13Figure 14-5: Devising Merchandise PlansForecastsTypes of MerchandiseStaple MerchandiseAssortment MerchandiseFashion and Seasonal MerchandiseTable 14-1a: Factors in Planning Merchandise InnovativenessTable 14-1b: Factors in Planning Merchandise InnovativenessTable 14-1c: Factors in Planning Merchandise InnovativenessFigure 14-6: Saks: Looking for Hot New FashionsFigure 14-7: Traditional Product Life CycleStructured Guidelines for Pruning ProductsFigure 14-8: Predicting Fashion AdoptionTable 14-2a: Factors in Planning Merchandise QualityTable 14-2b: Factors in Planning Merchandise QualityTable 14-2c: Factors in Planning Merchandise QualitySlide 30Figure 14-10: Ikea’s Wide and Deep AssortmentSlide 32Table 14-3: Private Brand TestFigure 14-11: Wal-Mart and Private BrandsFigure 14-12: Sears’ Distinctive Branding StrategyCategory ManagementSlide 37Merchandising SoftwareFigure 14-4a: Shelf Logic Software for Category Management PlanningFigure 14-4b: Shelf Logic Software for Category Management PlanningSlide 4114-1 Retail Mgt. 11e (c) 2010 Pearson Education, Inc. publishing as Prentice HallDeveloping Merchandise PlansRETAIL MANAGEMENT:A STRATEGICAPPROACH11th Edition11th EditionBERMAN EVANS14-2 Retail Mgt. 11e (c) 2010 Pearson Education, Inc. publishing as Prentice HallChapter ObjectivesTo demonstrate the importance of a sound merchandising philosophyTo study various buying organization formats and the processes they useTo outline the considerations in devising merchandise plans: forecasts, innovativeness, assortment, brands, timing, and allocationTo discuss category management and merchandising software14-3 Retail Mgt. 11e (c) 2010 Pearson Education, Inc. publishing as Prentice HallMerchandisingActivities involved in acquiring particular goods/ services and making them available at the places, times, prices, and quantities that enable a retailer to reach its goals.14-4 Retail Mgt. 11e (c) 2010 Pearson Education, Inc. publishing as Prentice HallMerchandising PhilosophyMerchandising PhilosophySets the guiding principles for all the merchandise decisions that a retailer makesIt should reflect Target market desiresRetailer’s institutional typeMarket-place positioningDefined value chainSupplier capabilitiesCostsCompetitorsProduct trends14-5 Retail Mgt. 11e (c) 2010 Pearson Education, Inc. publishing as Prentice HallScope of Merchandising ResponsibilityScope of Merchandising ResponsibilityFull array of merchandising functionsBuying and selling Selection, pricing, display, customer transactionsORFocus on buying function only14-6 Retail Mgt. 11e (c) 2010 Pearson Education, Inc. publishing as Prentice HallFigure 14-1: Dick’s Merchandising Philosophy14-7 Retail Mgt. 11e (c) 2010 Pearson Education, Inc. publishing as Prentice HallMicromerchandisingMicromerchandisingRetailers adjust shelf-space allocations to respond to customer differences and other differences among local markets.14-8 Retail Mgt. 11e (c) 2010 Pearson Education, Inc. publishing as Prentice HallCross-MerchandisingCross-MerchandisingRetailers carry complementary goods and services to encourage shoppers to buy more.14-9 Retail Mgt. 11e (c) 2010 Pearson Education, Inc. publishing as Prentice HallFigure 14-2: Attributes and Functions of Buying Organizations14-10 Retail Mgt. 11e (c) 2010 Pearson Education, Inc. publishing as Prentice HallMerchandising and Store Functions Merchandising and Store Functions PerformedPerformedMerchandising viewMerchandising viewAll buying and selling functionsAssortmentsAdvertising pricingPoint-of-sale displaysEmployee utilizationPersonal selling approaches14-11 Retail Mgt. 11e (c) 2010 Pearson Education, Inc. publishing as Prentice HallBuying viewBuying viewBuyers manage buying functions:BuyingAdvertisingPricingIn-store personnel manage other tasks:AssortmentsPoint-of-sale displaysEmployee utilizationPersonal selling approachesMerchandising and Store Functions Merchandising and Store Functions Performed (cont.)Performed (cont.)14-12 Retail Mgt. 11e (c) 2010 Pearson Education, Inc. publishing as Prentice HallFigure 14-4a: Merchandising Career Track at Macy’s14-13 Retail Mgt. 11e (c) 2010 Pearson Education, Inc. publishing as Prentice HallFigure 14-4b: Store Management Career Track at Macy’s14-14 Retail Mgt. 11e (c) 2010 Pearson Education, Inc. publishing as Prentice HallFigure 14-5: Devising Merchandise Plans14-15 Retail Mgt. 11e (c) 2010 Pearson Education, Inc. publishing as Prentice HallForecastsForecastsThese are projections of expected retail sales for given periodsComponents:Overall company projectionsProduct category projectionsItem-by-item projectionsStore-by-store projections (if a chain)14-16 Retail Mgt. 11e (c) 2010 Pearson Education, Inc. publishing as Prentice HallTypes of MerchandiseTypes of MerchandiseStaple merchandiseAssortment merchandiseFashion merchandiseSeasonal merchandiseFad merchandise14-17 Retail Mgt. 11e (c) 2010 Pearson Education, Inc. publishing as Prentice HallStaple MerchandiseStaple MerchandiseRegular products carried by a retailerGrocery store examples: milk, bread, canned soupBasic stock lists specify inventory level, color, brand, style, category, size, package, etc.14-18 Retail Mgt. 11e (c) 2010 Pearson Education, Inc. publishing as Prentice HallAssortment MerchandiseAssortment MerchandiseApparel, furniture, automotive, and other categories for which the retailer must carry a variety of products in order to give customers a proper selectionDecisions on assortmentProduct lines, styles, designs, and colors are projectedModel stock plan14-19 Retail Mgt. 11e (c) 2010 Pearson Education, Inc. publishing as Prentice HallFashion and Seasonal MerchandiseFashion and Seasonal MerchandiseFashion Merchandise: Products that may have cyclical sales due to changing tastes and life-stylesSeasonal Merchandise: Products that sell well over nonconsecutive time periods14-20 Retail Mgt. 11e (c) 2010 Pearson Education, Inc. publishing as Prentice HallTable 14-1a: Factors in Planning Merchandise InnovativenessFACTOR RELEVANCE


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UCA MGMT 3351 - Developing Merchandise Plans

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