Different Types Of Merchandise Management

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RETAIL MANAGEMENT

QUESTION 1. Explain different types of retail formats.
ASWER: There are mainly two different types of retail formats:
1. Store retail format
The following are the types of retail store under store retail formate:
a. Convenience store: it is generally a well situated, food oriented with long operating hours and a limited numbers of items. Consumers use a convenience store, for fill-in items such as bread, milk, eggs, chocolates and candy , etc .
b. Supermarkets: These are diversified store which sell a broad range of food and non food items. Which typically carries household appliances, apparel items , bakery, jams etc
c. Departmental stores: These consist of several products …show more content…

Direct selling :this involves contacting the end customers personally at home or at the workplace.

Question 2. Discuss the components of merchandising management .
Answer: Merchandise management as a function concerns itself with the selection of merchandise and ensuring its availability in the right quality at the right place in the retail store. Merchandise management is a key activity in the management of the retail business.
Components of merchandising management :
• Merchandise analysis : The retailer needs to be aware of the target segment of the consumers before he makes the decision to buy the merchandise . planning merchandise buying should be aligned with the taste and preferences of the consumer.
• Merchandise planning : it is well devised thought to say that ‘well brought is half sold’ . Buying objective should be well designed and structure and a well through plan is required to buy merchandise before the business season.
• Merchandise control : control mechanism of merchandise decide the effectiveness of the laid out policies and procedures and its aligment or deviation from the set standards . standards would be basically means objective and goals for …show more content…

It is also sometimes called as sign board. The store marquee is usually painted or is a neon light displaying the store name, trade mark and other important information of the retail store . it helps the retailer to identifying the store and in attracking customer and it is an integration part of the building façade.

• Store front : store front is the next important element of store design that influences the customer . A beautiful storefront helps in attraction the customer from entering the retail store . the store front is reflection of the personality of the story . the manner in which the merchandise is display in the show windows also has a lot do with enticing customer into the story.

• Atmospheric and aesthetics : Atmospheric is referred to as a store physical characteristics that are used to develop the retail image and draw customer. It describe the physical elements in a store design that appeals to consumer and encourage them to buy. Some of the key ingredients of atmospherics are flooring , ceiling , light , music ,level of cleanliness , signages used within the store

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