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Pgdm iv-7
Merchandise or product
Merchandise is anything that can be offered to a market or to customers that might satisfy a need or a want Characteristics of merchandise Shoppers exhibit Generate profit Manufacturer produce Customers requirement.
Breadth & depth of merchandise Breadth or variety of merchandise refers to the number of different merchandise categories a retailer offer. depth refers to number of different items in merchandise categories. It refers to the variety of colors, size, style, sizes & price that a retailer offers in a given line
Dropping to products
Criteria for product elimination Declining sales Little or no contribution in sales of other products Availability off good selling items that can be substituted for the product Failure of changes in merchandising efforts to improve the situation appreciably
The buyer
The buyer may be responsible for the purchase of a comparatively small range of merchandise or for several complete departments, depending on the size & type of the retail organization.
Acc. To diamond & pintel (1985) there are ten main personal attributes for an effective retail buyer Qualification Enthusiasm Analytical excellence Product knowledge
Sources of merchandise
Manufacturer or primary producers Wholesalers Importers Agents Private brands
Supplier selection
Prices including extra trade discount for bulk purchase Terms- length of credit, size of cash discount, other conditions & benefits. Deliveries- fast & prompt delivery, mode of delivery, safety of goods transported.