Strategic Perspective of Retail and Merchandising

RETAIL AND MERCHANDISING

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TABLE OF CONTENTS INTRODUCTION ...........................................................................................................................1

STRATEGIC PERSPECTIVE.........................................................................................................1

ROLE OF BUYER ..........................................................................................................................3

IMPLICATIONS FOR SUPPLIER RELATIONS .........................................................................4

CATEGORY MANAGEMENT PRINCIPLES AND PROCESSES ..............................................6

CONCLUSION ................................................................................................................................8

A Sample Report on Retail and Merchandising.

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INTRODUCTION Retail merchandising can be stated as the method through which flexibility can be delivered to the clients. Furthermore, it also assists in providing the best growth opportunities and efficiently implement a plan that carries out continues measurement of performance for all retail programs tailored as per customers requirements. It can be assessed that in a retail store, merchandising refers to the variety of products available for sale and the display of those products in such a way that helps in stimulating interest and attracts customers to make a purchase decision (Dutta, 2015).

In the present study, category management principles are undertaken which is a retailing and purchasing concept in which the range of products purchased by business enterprise or sold by retailer is broken down into discrete groups of similar of related products. However, such groups are known as product categories such as grocery, washing powder, toothpastes etc.

Moreover, it is a systematic disciplined approach in order to manage a product category as a strategic business unit (Dewhirst, 2012). Here, Sainsbury has been adopted in order to undertake category management principles and processes in order to maintain cross functional team approach, strong supply market knowledge and stakeholder engagement etc. Sainsbury is the second largest chain of supermarket in the UK and thus; provides the best products or services to attract consumers towards firm.

STRATEGIC PERSPECTIVE As per the view of Varley (2014), category management can be stated as a collaborative continuous process between manufacturers and retailers in order to manage shopper requirements in particular category form so that they can easily obtain desired products. Main purpose of this process is to optimize shopper satisfaction and thus; fulfills the role of retailer for that particular category within the overall portfolio of categories in the retail format. Moreover, the end state of such category management process is the combination of assortment, price, shelf presentation and promotion of

goods that optimizes the category role over time. It is the process through which data intensive and analytically orders can be placed appropriately and thus; shopper can buy the products accordingly. However, Ridgway and Clayton (2016) argued that it is significant for retail Get up-to 35% off on marketing essay writing services with plagiarism free content.

organization to identify the needs and requirements of shopper so that they can place the products in an appropriate order and influence buyers towards products. Retail merchandising is a crucial concept for retail organizations such as Sainsbury to form category and place it in particular order and thus; attain common goals. It serves as a platform through which shopper marketing initiatives can be collaboratively launched because the retailer and manufacturers are aligned around common solution to fulfil the need of buyers.

According to the opinion of Varley (2014), consumers requires variety of products at one place therefore; large scale retailers undertake such situation and aligned such goals in order to provide common solution to a need state of the shopper. Company is required to adopt effective marketing activities which are effort to change attitudes and thereby; provide the best products or services in order to attain desired goals. Retail organization undertakes marketing activities that helps in creating awareness stimulate desire and ultimately differentiate product through giving consumers a reason to purchase in preference to competition. Also, Piercy and Alexander (2013) argued that Sainsbury needs to obtain single initiative and campaign to promote the products among buyers and thus; they can deliver best offers and discounts to consumers so that goals and objectives can be attained. Sainsbury is required to recruit skilled marketing professionals so that they can attain desired objectives and thus; merchandise the products carefully in the store so that it attracts consumers towards firm. It also involves organisation to adopt different research protocols and different promotional campaigns such as social and digital media to attract shoppers. With the help of effective marketing, Sainsbury can identify consumer attitude towards particular product and thus; provide them defined goods so that sales can be enhanced.

Wolfe (2014) examined that shopper marketing is an occasion based component of the larger marketing function that helps in identifying the buyer perception as per their previous experience regarding the products in the particular category. Thus, this assists in providing them efficient product in order to satisfy their needs. Main aim of shopper marketing is that it helps in enhancing the brand's equity usage and experience at the time of sale. It assesses that shopper marketing begins as the consumer perceives a need and starts down the path to purchase through identifying the needs of consumers and providing them particular goods so that sales can be enhanced. For instance, retail organization such as Sainsbury shopper marketing is more crucial component of the overall marketing activity because the product which is sold by retailer is as

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per the needs and experience of buyer. Thus, providing desired products as per the needs of shopper helps retailers to attain desired objectives.

Mehta and Chugan (2014) stated that category management is retail context tends to alter the relationship between retailer and supplier. However, instead of traditional advertising relationship, the connection between them moves to effectively collaboration with the exchange of information, data, knowledge etc. so that focus upon supplier negotiations with the effect on turnover of the category as a whole. Here, the focus of all the supplier negotiations is the effect on turnover of the category as a whole, not just the sales of individual products. Also, suppliers are expected in order to suggest retailers regarding the new innovations and thus; provide benefits to buyers of that particular category. In this particular case, shopper marketing is carried out in order to maintain the category and thus compete with other brands so that it helps in satisfying the buyer’s needs.

ROLE OF BUYER As per the view of Rosenau and Wilson (2014), role of buyer within category management can be termed as crucial as it helps firm to obtain organizational goals by providing desired products to consumers and thus; enhance the sales and profitability of firm in market.

Here, buyers play an effective role in order to provide retail firms regarding their views and opinions about the product category as per their previous experience that assists Sainsbury to provide particular goods to consumers so that sales can be enhanced. Company also promotes its products by adopting different marketing and communication campaign so that sales performance of firm can be enhanced. It also assists in marketing the products as per the category management and thus showcases the popular products with the use of the best shelf presentation so that consumers can be attracted towards the goods and improve the sales and profitability of firm in marketplace. However, Van der Veen and van Ossenbruggen (2015) argued that buyer’s role in category management is critical as it involves effective strategic framework which involves collaboration that takes place such as efficient promotion, product introduction, efficient store assortments etc. All such factors assists in promoting products or services introduced by Sainsbury and thus; attract potential consumers towards firm in order to enhance the sales and profitability of firm in marketplace.

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According to the Katerina and et.al (2009), Sainsbury is required to maintain effective relationship with their customers because they play a crucial role in order to engage each other and develop effective relationship with them. Moreover, firm is required to develop effective stakeholder engagement so that company can identify the needs of consumers and thus provide them desired products so that sales can be enhanced up to a great extent. It can be assessed that retail firms are required to determine the potential needs of customers as per their previous experience and thus; fulfil

the needs of consumers by placing the goods in shelf as per the particular category in order to achieve organizational goals.

Kumar (2010) stated that category management involves the needs and expectations of consumers so that products should be able to meet the needs of individual and thus; provide them proper goods and services in order to attain success. Marketing team of Sainsbury needs to identify the needs and preference of consumers and thus; offer them required products so that sales can be enhanced. It assists in satisfying their needs and thus obtains set targets. For instance, category management reflects that the particular goods are placed effectively at one place with the help of proper shelf presentation so that consumers can be attracted towards goods and thus improve the performance of firm. However, Lagrosen (2005) argued that buyers are crucial for any business enterprise and thus retail firms are required to undertake crucial steps in order to satisfy individual needs and attain targets. Sainsbury management employs skilled professionals so that effective promotional campaign can be launched in order to develop effective communication with consumers and thus satisfy their needs by delivering effective products. Hence, organizations are required to develop effective tactics so that company can develop effective relationship with their customers and thus attain organizational goals. Thus, it can be articulated that Sainsbury is required to identify the needs of consumers and thus; provide the best products or services to them in order to attain satisfaction. It is significant for organization to develop the best relationship with consumers so that quality products can be delivered to them.

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IMPLICATIONS FOR SUPPLIER RELATIONS As per the view of Youssef and Soliman (2003), companies are required to develop discipline collaboration with suppliers in order to build continues growth and success within the changing industry dynamics and thus;

repeatedly produce desired results for both retailers and consumers. Sainsbury is also required to develop countless collaboration strategies and marketing plans so that best initiative can be taken to attain desired results. Also, developing strategic collaboration by retailers with suppliers and build effective relationship it helps in emphasizing sustainable mutual benefit and efficient movement of product across the supply chain and attain high profit and shopping experience.

However, Zhang and et. al., (2011) argued that maintaining effective supplier relationship assists in providing them timely payment and thus; build effective relationship with each other.

Moreover, the ability to achieve strategic collaborative relationship fails upon the shoulders of retailer and supplier. Therefore, it is essential for both of them to develop objectives willingly and thus rethink the priorities and move beyond traditional collaborative practices to where the shopper is the primary emphasis of all initiatives. It involves: •

Willingness and ability to align goals, strategies, systems, people and processes.

•

Commitment to the collaborative process and desired outcomes from tip down and across operations (Zhao and Zhong, 2015).

•

Moreover, developing ability to establish trust and productive communications.

•

Willingness to share knowledge and information.

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Further, ability to think, plan and commit strategies beyond one or two years.

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Also, providing resources that are required to support development of innovative and differentiated merchandising and product solutions.

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Provide timely payments to suppliers in relation to delivering better quality products.

•

Willingness to share risks and rewards (Zott, Amit and Massa, 2011).

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Link (2012) stated that organizations are required to engage in effective collaborative relationships with suppliers and thus; provide the best products to consumers. Here, company is required to undertake effectual relationship with their suppliers because they possess power and thus it is essential for company to provide them timely payment so that they can gain satisfaction. Thus, the collaborative strategy helps in driving effective relationship with individuals through offering them the best products and develops relationship so that set targets can be attained.

As pet the opinion of Maier (2012), Sainsbury is required to adopt effective supplier relationship guidelines for every segment so that the best quality products can be offered to consumers and thus set targets can be attained. All such guidelines need to be developed in regard to encourage focused collaboration with buyers and thus pursue aggressive cost negotiations and possible substitution in order to prioritize effective categories and thus enhance the sales and profitability of retailers to obtain desired objectives. Main objective of strategic collaboration is to grow sales and profits through improving the shopping experience and creating truly differentiated offerings as compared to rivals.

Nickson (2013) examined that organization is also required to review and supplier negotiations in order to take place every year before the crucial season of the specific category.

Thus, it helps company to develop effective relationship with suppliers so that different strategy can be developed in order to inform company about the availability of particular category and thus deliver the best quality goods so that success can be attained. However, it also assists in developing effective relationship with suppliers by providing them timely payments and thus attains desired results so that success can be attained.

CATEGORY MANAGEMENT PRINCIPLES AND PROCESSES According to the view point of Weinberg (2012), category management is an eight step process that helps in providing the best solution for the business and thus encompasses all the strategies in order to make the brand successful. Sainsbury is required to adopt effective process that needs to adopt significant objectives so that goals can be attained as per the brand. However, Get up-to 35% off on marketing essay writing services with plagiarism free content.

it will help in achieving success. The process will establish the brand as a true leader in the market and thus helps them to differentiate them from competition. It is essential for retailer to place effective shelf presentation and assort the product category effectively so that profit margin can be enhanced. It also assists in establishing effective relationship with consumers and thus attains desired success. Following is the category management process•

Define category- As per the Wong (2004), it is the most crucial step that helps in defining the understanding of the retailer, consumers and suppliers so that the best relation can be developed with individuals. Main focus is that category management is required to identify the consumer’s needs and thus; showcase the products in particular form so that individual can influence and purchase the same.

•

Category role- Here, it assesses the role which identifies the significance of the category to the retailer. Thus, it is the main role of retailer as they want the category to play within their store. It helps in attracting consumers towards the store and thus increase profits by fulfilling the needs of individual. Sainsbury assists in assigning different roles to categories within their stores depending upon the customers they want to attract as stated (Wood and Brotherton, 2008).

•

Category appraisal- Furthermore, it assesses in knowing the category performs at the retailer within the market and across different outlets which involves pricing, promotion, placement and product assortment. Thus, it helps in improving the performance of firm as compared to competitors.

•

Category scorecard- According to Lohman (2015), it is considered as the strategic allocation of work that needs to be performed in order to reach the category goals and objectives. However, it is the summary of observations and analysis in order to help in developing goals and targets of the category. Thus, it involves assessment of consumer buying habits.

•

Category strategies- Henshall (2013) stated that retailer is required to develop strategies that are used to develop fine tune with the category and thus meet the scorecard objectives. However, category objectives are designed in order to grow the market share, enhance sales, and improve customer attractive and profits so that satisfaction can be attained.

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•

Category tactics- It involves appropriate action plan so that effective category strategies can be selected in order to promote the brand in market. Sainsbury promotes top brand in front end premises of the store and thus attracts consumers towards firm.

•

Implement plan- As per Dutta (2015), it is the action step that brings the strategies and tactics into action and thus; develop accurate objectives in order to implement the plan and attain desired success.

•

Review and assess performance- It can be assessed that analyse, measure and review the results helps the company to focus upon individual needs and thus; make changes if essential to obtain results.

As per the view of Dewhirst (2012), category management principles help in

implementing effective category so that company’s can achieve overall business strategy.

However, category management is founded upon five key principles which are as follows•

Cross functional team approach

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Strong supply market knowledge

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Make change happen

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Stakeholder engagement

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Facts and data based However, all such principles assist in developing foundation of governance so that

implementing of category management can be successful in order to attain desired success. There are two levels of governance which is required as follows•

It involves program level where steering group manages the particular category programs (Varley, 2014).

•

Also, corporate governance helps in developing the system through which companies can direct and control the operations so that success can be attained.

Hence, it can be stated that Sainsbury assists in developing effective performance

management so that effective category products can be placed so that success can be attained. It is also significant for firm to identify the objectives so that they can compete with different competitors (Ridgway and Clayton, 2016). Thus, developing capability management assists in building high performance so that team can be given best training in order to attain desired success. Also, it helps in supporting the program and thus facilitating management to achieve breakthrough results and attain success.

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CONCLUSION It can be examined from the study that category management is a crucial step within retail organization and thus; involves in building a business plan around 4 P's such as pricing, promotion, placement and products. Moreover, Salisbury adopts effective category management with the help of marketing professionals and thus; place the product attractively in the shelf and assort the products as per their price so that sales performance can be improved. Thus, company promotes its products through effective campaign and promotion in order to influence buyers and thus enhance the sales and profitability of firm. Also, involving different category management principles assists in managing change, stakeholder engagement and develops strong relationship with suppliers so that set targets can be attained.

A Sample Report on Retail and Merchandising.

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REFERENCES Books and Journals ⚫

Dewhirst, T., 2012. Commentary on Burton et al.(2012): The influence of tobacco retail merchandising on tobacco consumption. Addiction. 107(1). pp.176-177.

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Dutta, S., 2015. DIGITAL BUSINESS: A NEW CUSTOMER-SAVVY BUSINESS PLATFORM FOR INDIAN BANKING & RETAIL SECTORS-ISSUES & CHALLENGES. Indian Journal of Management Science. 5(1). pp.43.

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Katerina, D. and et.al., 2009. Measuring e‐commerce‐quality: an exploratory review.

International Journal of Quality and Service Sciences. 1(3). pp.271–279.

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Kumar, V., 2010. A customer lifetime value-based approach to marketing in the multichannel, multimedia retailing environment. Journal of Interactive Marketing. 24(2). pp.71-85.

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Lagrosen, S., 2005.Effects of the internet on the marketing communication of service companies. Journal of Services Marketing .19 (2).pp.63–69.

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Link, C. K., 2012. Internal merchandising: creating revenue opportunities. Cornell Hotel and Restaurant Administration Quarterly. 30(3). pp.48-57.

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Maier, T., A., 2012. International hotel revenue management: Web-performance effectiveness modelling – research comparative. 3(2). pp.121 – 137.

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Mehta, N. and Chugan, P. K., 2014. Consumer's Perception for Visual Merchandising of Lifestyle Apparel Stores. International Research Journal of Marketing. 2(3). pp.53-60.

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Nickson, D., 2013. Human Resource Management for Hospitality, Tourism and Events.

Routledge.

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Piercy, N. and Alexander, N., 2013. The Status Quo of the Marketing Organisation in UK Retailing: A Neglected. Retail Marketing. pp.43.

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Ridgway, J. L. and Clayton, R. B., 2016. Instagram Unfiltered: Exploring Associations of Body Image Satisfaction, Instagram# Selfie Posting, and Negative Romantic Relationship Outcomes. Cyberpsychology, Behavior, and Social Networking. 19(1). pp.2-7.

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Rosenau, J. A. and Wilson, D.L., 2014. Apparel merchandising: The line starts here. A&CA Sample Report on Retail and Merchandising.

Van der Veen, G. and van Ossenbruggen, R., 2015. Mapping Out the Customer's Journey: Customer Search Strategy as a Basis for Channel Management. Journal of Marketing Channels. 22(3). pp.202-213.

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Varley, R., 2014. Retail product management: buying and merchandising. Routledge.

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Weinberg, M., 2012. New Sales: Simplified : the Essential Handbook for Prospecting and New Business Development. AMACOM Div American Mgmt Assn.

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Wolfe, M.G., 2014. Fashion Marketing & Merchandising. Terminology. 27(31). pp.126-139.

A Sample Report on Retail and Merchandising.

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