Merchandising in marketing

Merchandising

Merchandising is the promotion of goods and/or services that are available for retail sale. Merchandising includes the determination of quantities, setting prices for goods and services, creating display designs, developing marketing strategies, and establishing discounts or coupons.

Merchandise known as merchant wholesalers is regarded as independent firms that purchase a product and resell it to other manufacturers, wholesalers or retailers but not to the final consumer. They provide space for permanent showrooms and exhibit goods and products.

Features of Merchandising

A merchandise marketing activity is characterized as the following:

I. Packaging: This is regarded as the most distinctive marketing effort performs by merchandising.

Functions of Packaging

1. protection of products

2. Identification of products

3. Information source

4.  Enhance disposal

5. Enhance channel acceptance.

ii. Branding: This is one of the most essential information elements that consumers use to simplify buying decisions and minimise purchase risk. It states the attributes and general image of a product. Brands include the product name, logo, slogans, trademark etc.

Functions of Branding

1. It attracts attention

2. It aids memorability

3. Communicate the positioning of the product.

4. Distinguish the product from competing brands.

iii. Labelling: Labelling should be consumer/customer-friendly, hence, it must perform the following functions.

Functions

1. Proper identification of the identity of the manufacturer

2. State the expiration of a product.

3. State the usage of the product

4. Provide detail instructions about other essential matters.