Wednesday 30 September 2015
Product Development Process for Fashion Departmental stores/ Arun kumar Gaikwad
Step 1: Have Basic and clear understanding about organization Goals, History,
objectives
·
Segmentation
, Targeting and Positioning of the store
·
Demographic
Information
·
Statistical
Information
·
Present
Model of the store
Step 2: Define your Clients / customers / segment
Step 3: Retail Market Research projections & challenges
Step 4: Inspirations for line Development and Concepts finalization
Step 5: Design and Concepts/ Themes Boards
Step6: Finalizing Fabrics / Trims / textile design & sourcing Plan
Step7: Developing Technical/ Style specification sheets
Step8: Developing Size sheets and Costing sheets
Step9: Sample development and approvals
Step10: Pre production / Problem rectification
Step 11: Quality control briefing for Mass production
Step12 : Mass production/ packing and Quality Auditing
Step 13: Marketing and Customer relationship management
Wednesday 11 March 2015
Merchandising Definition
American Marketing Association
According
to American Marketing Association, merchandising encompasses "planning
involved in marketing the right
merchandise or
service at the right place, at the right time, in the right quantities, and at the right price.
Grace kunz
Merchandising as the planning,
developing, and presenting of product lines for identified target markets with regard to pricing, assorting,
styling, and timing.
Lewis weitz
merchandising
is the process of developing,obtaining, pricing supporting
and communicating the retailer’s merchandise offering
Nora Aufreiter et al
Merchandising is not a synonym for the buying function, it is an integrated, end-to-end business process that runs from planning the assortment, to sourcing, to distribution, to allocation of the goods to the stores, to promoting and selling the assortment to the customers and finally to replenishing inventory as necessary.
The other activities
that make merchandising effective, such as advertising, displaying, creating an attractive ambience, harmonious reception
of the visitors i.e.
prospective customers.
Online merchandising : Basics
Online merchandising describes how we are presenting our products and services on Retail websites. One of the primary objectives of the online retailer is to make customer satisfied and earn profits.
There are two cases
1. Right online merchandising: Easy to explore website, easily can find what they want and may buy more items than required.
2. Getting it wrong : customers can’t find products easily , creates confusion , decision making problems , customer may choose different site .
Online merchandising may be defined as “selection & presentation of products / services and contents to make best use of screen real estate”
As the number of companies / online retailers is growing year on year, it’s very important for the online retailers to concentrate on online merchandising techniques. And make sure that these websites are easy to navigate, easy to explore products, easy to pay and prompt delivery of goods.
Basic online merchandising Techniques used by retailers listed below:
- Provide Browsing options
o Browse by product type
o Browse by brand
o Browse by occasion
o Browse by colour
o Browse by best deals
o Browse by best sellers
- Provide product information at different levels
o Category level information
§ Category structure
· Example : women---àtops--àHalf sleeve / Full Sleeve
o Product list Page
§ Small images
§ No. Products per page
§ Price
§ Brands
§ Discounts
o Product page
§ Product information
§ Product detailed description
§ Available sizes
§ Fit guide
§ Delivery options
§ Colours
§ Multi buy savings
§ Discount if any
§ Warranty
Cross selling
§ It’s always good to cross sell additional products to increase basket size. Example: suggesting “ people who bought this also bought” or recommendations or similar products – on website
§ Sponsored products of same category - ( advertisements/ paid)
Up-selling
§ On product page offer products the customer may want to add their order based on what they have purchased.
§ Example : Accessories which goes with the main products
Basket offers
§ Putting special offers in the basket for customers to add as impulse buys are great for boosting basket size/ value.
Review & Regular feedback system
Once we setup online merchandising, we need to make sure that customers are doing well. Web analytics will help a lot to analyse; the numbers of customers are visiting your site, how many are buying, how many are returning without a purchase.
Develop & run customer surveys to know what they think.
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