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Published byΣαλώμη Λούπης Modified over 6 years ago
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Retailing Strategy Aim: Why is the chris tile vmerchandising strategy important in order to satisfy your consumers? Do Now: How do stores decide what products to sell?
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Retailers and their Target Markets
Selecting a Target Market: Retailers analyze demographic, geographic, and psychographic profiles to segment and select potential markets just as brands do. VS. VS.
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Merchandising Strategy
What products will the company offer? General merchandise, product lines, specific items within lines and depth and width of assortment. Consider the difference VS. VS.
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Merchandising Strategy
Planograms- Computerized diagram of how to exhibit selections of merchandise within a store.
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1-How do managers know what products to sell?
Based on market research, past sales, fashion trends, and customer requests. Things to take into consideration: Profit Margin Consumable Popularity Competition Quality Diversity Customer wants/needs
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Exclusively designed products are part of chris tile’s Target’s merchandising strategy
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Customer wants/needs The pressure that consumers put on businesses to act in a certain way or develop/carry certain products. Social Pressure has an enormous impact on company strategies. Examples: Toyota Prius and Honda Civic Hybrid were inspired by the social pressure to develop more fuel-efficient vehicles.
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The Battle for Shelf Space
Slotting allowances- Fees paid by manufacturers to secure shelf space from retailers for their products A manufacturer can pay a retailer as much as $21, 000 per item just to get its new products displayed on store shelves Stock keeping Units (SKU)- specific product offering. (Every product has a different SKU.) Other Fees- failure fees, annual renewal fee discounts on high-volume purchases
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