Establish Merchandising Policy examines components for establishing the retail store image and the impact of visual presentation when utilized as a major marketing communications tool.
Establish Merchandising Policy
Another step in establishing the retail store image consists of establishing a consistent merchandising policy. In the previous part of this section, establishing the fashion image and selecting fashion merchandise was addressed. Other aspects of building the merchandising policy includes:
- establishing the procurement procedures and policies, including the retail/vendor matrix, buying procedures, and merchandise mix
- instituting markup and markdown policies
- establishing pricing procedures
- coordinating the sales promotional activities – advertising; sales promotions and events; visual merchandising, both merchandise and displays; fashion coordination; publicity and PR.
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