Meaning and Scope of Marketing Research
According to American Marketing Association, “Marketing Research is the function that links the consumer, customer and public to the marketer through information-information used to identify and define marketing opportunities and problems, generate, refine and evaluate marketing actions; monitor marketing performance; and improve understanding of marketing as a process.” Marketing Research is systematic problem analysis, model […]
5 Factors in Selecting an Affiliate Program
As an affiliate, one of the first major decisions that need to be made is selecting an affiliate program. This program then forms the basis of all the time and money that the affiliate would spend trying to generate a sustainable income. You cannot win too often if the playing field is unfavorable! Choosing the […]
Functions of a Good Product Manager
Astute product management requires the product manager’s involvement at every phase of the product lifecycle. Starting with the initial conceptualization and coordination with the different departments, including liaising with finance, legal and other teams, and finally, driving the product to launch and after sales service by interacting with the sales and marketing functions. To take […]
Relationship Management and Green Marketing
The world attention once again has turned to Durban where the countries are meeting to try and resolve the crises that our World is facing today in terms of Global warming and Energy crisis. Environmental protection as well as Prevention of cruelty to Animals too have been global agendas making news all the time. Though […]
Buying Behaviour Patterns of Customers
For understanding the buying behaviour of the customers in retail stores it is very important to analyze the customer psychology, the factors which influence a customer for buying certain products/services from the stores and also an analysis of the customer’s response towards a sales promotion is very critical. Before analyzing the customer’s buying behaviour, let […]
How do you think buildings are constructed?
With the help of architectural drawings.
An architectural drawing creates a rough print of the building on paper which gives an idea about the floor plans, location of rooms, lobby and so on.
In retail a planogram replaces architectural drawings.
Once a retailer opens a store, he needs to have a rough idea about the store plan. A planogram helps in the same.
Planograms are similar to architectural drawings and help the retailer to understand where the merchandise should be stocked in order to catch the customer’s attention and make the maximum impact.
Planograms are nothing but diagrams which give the retailer an idea how and where to place the merchandise to attract the customers into the store.
Presentation of product plays an important role at the retail store. With the help of Planograms; a retailer can actually know where to place the products for the maximum effect.
Planogram enables the retailers to stock the products at the right place and at the right time to attract the customers and prompt them to buy.
A retailer can make the best possible use of the available space with the help of planograms.
The merchandiser can actually create an attractive display to entice the customers with the help of planograms.
Planograms indirectly also contribute in maximizing the sale of the merchandise and thus generate revenues for the store. A cluttered store fails to attract the customers. The planograms help the retailer to arrange the products in the best possible way for the customers to pick up almost everything.
A Planogram ideally should be prepared before the merchandise reaches the retail store. The retailer should be very clear where he wants to place his products to impress the customers.
There are various softwares available which help to create planograms. These softwares help the retailers to draw three dimensional diagrams of the store and help them visualize the overall image of the store.
Visual Product Placement - Visual Product Placement refers to a technique where the products are placed in a way to immediately catch the attention of the customers walking into the store.
According to horizontal product placement, products are placed side by side on shelves to offer a wide range of options to the customers.
The vertical product placement displays the merchandise on more than one shelf level.
According to block placement of products, the related products or merchandise belonging to a similar family are stocked at one place together under one common umbrella.
Commercial product placement takes into account the brand value of the merchandise. Every customer has a perceived image of the merchandise which decides its placement in the store. A product which has several takers would definitely get the best position as compared to something which does not contribute much to the revenue of the store.
Market share product placement plan works on a simple strategy:
A product which generates the maximum revenue for the store should ideally be placed at a prime location for the customers to notice it and immediately buy it.
According to Margin product placement, the more a product earns profit for the retailer, the better the location it is placed.
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Challenges to the Retail Sector (As per Michael Porter s Five Forces Model)
February 12, 2025
