Merchandising and cost
Department of Fashion Design conducted a expert talk on “Merchandising and cost” on 26/2/2022 i.e Saturday for the students of fashion (all semesters). The guest speaker was Mr. Alok kumar Tiwary who is an expert in merchandising & working as Merchandiser (Arvind Lifestyle Brands ltd., Banglore) and also working with various national and international brands’s merchandising.
Ms. Shalini Pandey started the session with welcoming and introduces the Guest Speaker. After that Mr. Alok started the lecture with introduction of merchandising. Merchandising refers to the marketing and sales of products. Merchandising is most often synonymous with retail sales, where businesses sell products to consumers. Merchandising, more narrowly, may refer to the marketing, promotion, and advertising of products intended for retail sale. In marketing, one of the definitions of merchandising is the practice in which the brand or image from one product or service is used to sell another. Trademarked brand names, logos, or character images are licensed to manufacturers of products such as toys or clothing, which then make items in or emblazoned with the image of the license, hoping they’ll sell better than the same item with no such image.
He continued the lecture by informing the students’ about detailed process followed by a merchandiser in merchandising company and the industrial terms and their details accordingly.
This talk was divided in various parts in which, he segregated the merchandising into different topic like introduction, its types, terms used, working process, importance of each step, end to end production’s challenges and how to tackle them. Maximum students were actively interacting and also asked questions related to merchandising, product planning, retailing and how to calculate cost. Through this session students understood the how to collaborating with suppliers, manufacturers, and retailers to ensure proper execution of merchandising plans. Students learnt about maintaining inventory of products and how to gather information on market trends and customers’ reactions to products. Students were also understood the complete process that merchandiser needs to follow in the company and their work style.
At the end of lecture HOD of Fashion design department Dr. Sarita Hooda ended the lecture by her vote of thanks. Total 21 students appeared in the expert talk which started from 11 am on Saturday, February 26, 2022. This session was very informative from the point of view of the students.