Welcome to today’s class!!
We are thrilled to have you in our class!!
In today’s Marketing class, we will be learning about Merchandising
When we talk about Merchandising, bear in mind that this includes determination of quantities, setting prices for goods, creating display designs, developing marketing strategies, and establishing discounts or coupons.
More broadly, merchandising may refer to retail sales itself: the provision of goods to end-user consumers.
Merchandising can also refer to the use of one product, image, or brand to sell another product, image, or brand.
Merchandising can also include the presentation and promotion of goods that are available for purchase for both wholesale and retail sales. This includes marketing strategies, display design, and competitive pricing, including discounting. Merchandising is important for retailers looking to cultivate their brand, improve the experience of customers, compete with others in the sector, and ultimately, drive sales.
Sources of purchasing and supply of goods and services include: newspaper or media reports, announcements, trade directories, professional journals and magazines, product catalogs, company newsletters, trade fairs and product exhibition, product show and workshop salesman, sales promotion contracts, etc.
In summary, the supply, purchase and merchandising of goods involve selecting a supplier, the buyer is making frantic effort to find the organization that will meet its need which revolves around reliability in quality, service, terms and price.
What do you understand by Merchandising?
Explain the importance of Merchandising to a business.
List the sources of purchasing and supply of goods and services
We hope you enjoyed today’s class. In our next class, we will be learning about Elements of Marketing.
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