| Instructions: Write a paper on the topic you have selected for the Final Paper, and has been approved by your instructor. This may take the form of an outline. The paper should highlight your basic research into the topic. ANSWER Final Paper Outline (Merchandising) I. Introduction Merchandising is a broader concept that refers to various scopes of business and marketing strategies that involve using ambient tactics to present goods and services to consumers in appealing and attractive ways in order to improve sales revenue (Thomas, Louise & Vipinkumar, 2018). It is an important sales promotion concept that focuses on comprehensive functions such as market research, advertising and selling, new product development, marketing among others. II. Objectives of the Final Paper The primary objectives of conducting comprehensive research on merchandising are to help deepen knowledge and skills within this marketing strategy. After the completion of the paper, the reader will be able to demonstrate knowledge of the task and role of merchandising in business. III. Importance of merchandising The purpose of this final paper is to explore Merchandising concepts, its consequences, as well as describe its importance in product positioning, competition, and product awareness (Singh & Yaeghoobi, 2018). The paper will explain that merchandising is a basic need for small, medium, and large businesses. This paper will also focus on the impacts of merchandising on sales, brand image, and impulse buying behavior. IV. History of merchandising Kaur and Jain (2016) explain that merchandising history is as vast as the trade itself. However, visual merchandising can be traced back in 1840 when the invention of technology lead to large production (Kaur & Jain, 2016). V. Types of merchandising There are three types of merchandising which include retail merchandising, cross merchandising, and visual merchandising. A. Retail Merchandising Retail Merchandising involves using various approaches to convince end users to buy the products. The method is common in retail stores and the display of the merchandise plays a significant role in attracting and prompting the customers to purchase the product. B. Cross Merchandising Cross merchandising involves putting unrelated products together at one place to persuade customers to find a relation among them. C. Visual Merchandising Visual Merchandising involves increasing sales of a product by strategically and effectively displaying them in order to influence the consumer’s buying behaviours. VI. Merchandising Techniques A. Window Display There are five different types of window displays, which include semi-closed windows, island windows, exclusive window, open windows, and closed back windows. |
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