...Pragathi Gramin Bank, Bellary, Karnataka (Sponsor: Canara Bank) • 628 villages covered with 100 percent financial inclusion • 8,26,173 families of SHG members financially included • Two out of seven districts served by the bank have 100 percent inclusion • The RRB plans to cover one million families by March 2008 Pilot Project in Andhra Pradesh Andhra Pradesh Government has embarked on a pilot project with six banks, viz., SBI, SBH, Andhra Bank, Union Bank, UTI Bank and AP Grameena Vikas Bank, to make payments of Social Security Pensions and AP Rural Employment Guarantee Scheme benefits to 50,000 beneficiaries in six Mandals of Warangal district through the use of business correspondents and contact less smart card/mobile technology. The state proposes to scale up the project to cover the nearly five million beneficiaries of the entire state in due course. The state has signed an MOU with banks and Institute for Development and Research in Banking Technology (IDRBT) for the purpose. The state is also meeting the major portion of cost of the smart cards and also of the other devices used in the j t Indian Bank in Asia’s Largest Slum, Dharavi, Mumbai - Application of Core Banking Solution Dharavi, Asia’s largest slum is inhabited by lakhs of migrant labour from Tamilnadu who do not have bank accounts. After the KYC norms were rationalized to enable opening of 'No Frills' Accounts, Indian Bank has opened a Core Banking branch in Dharavi Slums. The KYC...
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...Merchandising: Involves all the activities needed to present the product to the customer in sales places sometimes called “sales-scape”. While specific activities interest with each other; (store atmosphere, promotion, shelf layout) interact with each other, there is still, a sequence of activity that may be put into 4 broad phases of merchandising; -Planning & range building, -pricing, -promotion and display, -and monitoring 1. Planning & Range Building: Involves responding to and delivering the market strategy that the retailer has chosen. This strategy will define the width, depth of ranges and the number of categories of items that make the total offer of the retailer (Cadeaux 1999). Whilst a optimal range may be developed in planning, the retailer may be unable to implement this plan because supply isn’t available. (E.g. at the right price, of quality or quantity level) The need to keep a constant inflow of new products to keep customers entertained also ensures planning and range building is an on-going thing. Planning involves both a firms strategic requirements and the operation of the sales outlet. The ranges change and evolve with input from all aspects of the retailer, including monitoring activities and feedback from buyers. 2. Pricing: Very complex area. Success relies on getting the price right. Optimising price is complex – from both the retailers and customer’s perspective. Prices often change price to, eve just for a short-time to (Sales)...
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...How can retailer to trigger customers buying decisions through visual merchandising? Visual merchandising is playing an important part due to the increasing sameness of merchandise and services among competitors. In shopping malls, you find many competitors clustered together and it has become very difficult for the stores to create a competitive advantage. Thus, visual merchandising can offer for a store to create a distinctive image and attract customers to buy the merchandise. The main objective of visual merchandising is to stimulate potential customers through five mental stages called attention, interest, desire, conviction, and action (AIDCA). Two kinds of attention are voluntary and involuntary. Voluntary attention happens when window shoppers purposely view various displays, typically to learn about the merchandise that they have the intention to buy. In contrast, involuntary attention is unintentional observation. It is more difficult to achieve because the display must get the attention of the potential customers away from...
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...explaining the definition of Psychology and Visual merchandising. Psychology : The science of the human mind and behaviour. The word psychology literally means “study of the soul” ~wikipedia Visual merchandising : The activity of promoting the sale of goods , especially by their presentation in retail outlets. This includes combining product , environment , and space into a stimulating and engaging product , environment and space into a stimulating and engaging display to encourage the sale of a product or service . ~New Oxford Dicitionary Visual merchandising is not as simple as people make it to be , There is a psychological aspect to visual merchandising that must be considered if you want to optimize the success of your visual merchandising . Consumers will often make purchases based on how they feel e.g based on emotion . The connection between what your customers think and feel and how your market to them makes an incredible difference in how effective your visual merchandising display is . Even if your companies products...
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...powerful image provides the opportunity to embody a single message, stand out from the competition and be remembered. Image is the foundation of all retailing efforts. While store layout, presentation, signage, displays and events can all change to reflect newness and excitement from one season to the next, they must always remain true to the underlying store image. Studies indicate that a retailer has roughly seven seconds to capture the attention of a passing customer. The following elements combine to form a distinctive image that not only reaches out and grabs the customer's attention, but also makes a positive impression in those precious few seconds. MERCHANDISING Merchandising, also known as the 'silent salesman', is the science and art of suggestive selling by display and presentation. Visual merchandising focal points are located strategically to circulate the customer in the store, and communicate the features and benefits of the merchandise besides the in-store promotion in vogue. This is done by converting a passerby to a browser with an effective window display, a browser to a spender through the process of 'conversion', a spender to a big spender by increasing the 'ticket size'...
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...P3 How top man, Tiger, Vodafone use psychology to attract their customers. There are two different types of psychology which are tangible and intangible Tangible techniques Window display - Top man Top man do have a window display which is where they will advertise their big sales and new items and they cover almost the whole window with these posters and signs and this is a great psychology technique they use because they make the poster that big that you can’t see through much of the shop and this makes it impossible to miss the sign so when you read it you get attracted by the “sale” “discount” word which are on the posters which create an excitement for the customers and it makes you have to walk in and see what they have to offer and you can’t window shop as the posters cover up all the items so the psychology drags you into the store - Vodafone Vodafone window display is really basic and simple they have a clear big glass Company name/ branding - Top man Top man also have another shop in there shop which is called “Topshop” which is a female clothing shop and the psychology behind this is that they both have their company names the same as they are the same company and in the branding they have top man name first and Topshop next to it and Topshop is up stairs which you have to go through top man before you go Topshop and they do this so when females go with their boyfriends/male friends/ husbands they end up staying in top man looking through there before...
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...Visual Merchandising: P.O.P. Displays Visual Merchandising is the method of displaying products in a store that will entice a consumer to buy. “POP display” is short for point of purchase display. A point of purchase display can catch the attention of prospective consumers. For as long as humans have been selling things to each other, there has been a need for point of purchase displays. Over the centuries, the vendor, the peddler, the hawker, all have needed to display their products to consumers. POP displays are all about point of purchase displays that are types of marketing and advertising techniques or ad campaigns that boost the marketability of the goods close to which they are placed. The reputation of an item is dependent upon its advertising and marketing strategies. The benefit that promotion provides to any product is its brand name value that becomes the identity of the product or service. By the twelfth century, shops in major European cities were well established. Traffic in bazaars and shops was important and early retailers just like today's retailers, needed to display the goods offered. Logically in an age before mass production, there were few consumer goods to promote. Nevertheless, food, clothing, footwear, furniture and cooking utensils were the essentials of life and for those who could afford them bought in shops. During the nineteenth century's industrial revolution, a wider variety of goods became readily available. Signs, posters and means of displaying...
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...Makeda Stewart 8/19/15 Professor Pinkston FRM223 Week 1 Assignment 2 Research Report Some major trends in visual merchandising in the new millennium would be big impact visualizations, whimsical looks, and very fun, creative displays. Retailers get more and more creative as time goes on. Store windows aren’t the only place where a store can show off its clothing and great ideas. Little setups all over the store and in the front window can keep customers interested in the retailer’s wares. The best way to do this is to have fun and kitschy themes for displays, full of oversized imagery, scenic backdrops, and saturated and whitened bright colors. Whimsical displays are becoming more popular as well. Having soft, pastel hues mixed with other bright colors and white, powdery, matte surfaces, using objects like pinwheels or streamers to evoke childhood memories. Usually the clothing in the displays are matched with the background/imagery to make for an even more finished look. Big impact visualizations is another trend, usually having huge backdrops or posters to covey the theme of the display. It’s meant to be the first thing noticed when walking into the store. A customer may find “…endcaps presenting artfully curated product selections that entice [them] to touch and feel the merchandise. [They] may find a bevy of color-coordinated and themed merchandising messages on signage and graphics throughout the aisles.” (designretailonline). These displays make a statement about...
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...Merchandising By: @AndyGarcia_C & @IlianaRoal “You need to be visible” “Conjunto de técnicas y estrategias comerciales que permiten acercar al cliente el producto o servicio bajo condiciones físicas, materiales y psicológicas que en conjunto buscan tener mejores resultados en el punto de venta” “Merchandising: Poner la mercancía en movimiento; mercancía en acción” Oferta de Competidores y productos + Cambio hábitos de consumo = Merchandising = Incrementar Rentabilidad Funciones La función principal del merchandising es aumentar sea y motivar las ventas, clientes. El merchandising siempre y cuando rentable y satisfaga las necesidades de los contribuye a : Fortalecer el posicionamiento de la empresa. Interesar y llamar la atención y provocar la compra. Comunicar e interesar. Administrar los espacios y puntos de venta. Características Enfocado al posicionamiento del producto. Se lleva a cabo en el punto de venta (Exterior e Interior). No es solo el empaque, es la experiencia de compra. Necesita ser planeado. Es la lógica comercial del punto de venta. Tipos de Merchandising: Merchandising Visual: La presentación de los artículos en el punto de venta de modo que el acto de compra sea lo más fácil para el cliente y que sea rentable para el comerciante. “Merchandising de Presentación” Merchandising de Gestión: Gestionar el espacio para obtener el máximo rendimiento en el espacio destinado a la exposición de productos...
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...In this research paper, the authors are describing the implementation of visual merchandising theory in a retail store. There are some matches between the findings on the research and the theory. The matches are some aspects we can find in the retail store, which are Store Layout, Exterior Design, Landscaping, Windows Display, Color, Lighting, and Signage. However, there are also some mis –matches in terms of new aspects that we can find in a retail store, such as Marquees, Banner, Props, and Technology Display. These mis – matches may exist due to the technology, information or factors that recently appear to match with the advance system, to use it to attract customer and encourage purchase action. The authors also explain that by having...
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...structured clothing for the evolving Indian male. Its iconic Suits and Jackets to Khakis to DLT trousers, has gradually ‘liberated’ the Indian male in his quest for a fashion forward look. Today, Knits, Polos and fashion accessories are pushing the boundaries of a distinct Blackberrys ‘look’. Visual merchandising is the art and science of displaying and presenting product on the sales floor and in the windows with the purpose to increase store traffic andsales volume. Along with the store design, it is a key component of store’s unique identity and best form of advertising. Visual merchandising can be defined as everything the customer sees, both exterior and interior, that creates a positive image of a business and results in attention, interest, desire and action on the part of the customer. It includes the presentation of merchandise as well as other important, features that create the store’s overall atmosphere. Visual merchandising is directly involved in two-third of the entire process of converting a mere visitor into a buyer. The basic objective for visual merchandising is a desire to attract customers to a place of business in order to sell the merchandise.Through visual merchandising it is able to communicate to target customer brand’s identity, and what is unique and special about the offering and what makes this store better than other stores. Blackberrys Flagship Store- Bangalore Analysis of...
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...Blocking Presented by Nitya Mishra Ruhi Rukmini Sampada Pathak Definition and Function Visual Merchandising is defined as the presentation of any and all merchandise at its best. Visual merchandising is the activity and profession of developing the floor plans and three-dimensional displays in order to maximise sales.[ The world of visual merchandising is all about fascinating tools of display which help transform shoppers into stoppers; walk bys into walk ins; and passers by into passers who buy! A visual merchandiser sets the store and its merchandise in such way as to reflect the image a store wants to reflect. VM is the way in which to display goods for sale in the most attractive manner with the end purpose of making a sale. If it does not sell it is not visual merchandising. It is important to understand that visual merchandiser is not there to impose ideas but to help clients articulate their own personal style. So visual merchandiser is an idea person. VM is the art of implementing effective design ideas to increase store traffic and volume of sales. Creating an attractive product display can draw customer in, promote a slow moving item, announce a sale, or welcome a season. VM uses season based displays to introduce new arrivals to customers and thus increase conversions through a planned and systematic approach by displaying stocks available Visual Merchandising is • A tool to achieve sales and targets. • A tool to enhance merchandise on floor. • A mechanism...
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...Executive Summary: Our report focuses on the “Application of Accounting in a Merchandising Business - Prime International Limited”. Accounting is important in business because it offers great support to management for planning, controlling as well as decision making process. It is with the aid of accounting information that the performance of a unit can be evaluated, at the same time as, its logical records make possible to get rid of the frauds and the thefts. The main interested parties for the company are stockholders who always want to know about the performance of his or her company. To prepare a financial statement, an organization must start its work from identifying recording, summarizing, and adjusting the transactions and at last preparation of financial statements. Accounting is important for businesses for several reasons. Effective record keeping helps a business survive efficiently all the while keeping track of the operations of the company. Background of the Study: The garments industry of Bangladesh has been the key export division and a main source of foreign exchange for the last 35 years. At present, the country generates about $6 billion worth of products each year by exporting garment. The industry provides employment to about 3 million workers of whom 90% are women. Two non-market elements have performed a vital function in confirming the garment industry's continual success; these elements are (a) quotas under Multi-Fibred Arrangement1...
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...Chapter 2: Fashion Merchandising Organizations Chapter contents: 2.1 Introduction 2.2 Types of fashion merchandising organization 2.2.1(a) The buying agents 2.2.1(b) Store-owned buying offices 2.2.1(c) Cooperative buying offices 2.2.2 Independent trading companies 2.2.3 Offices of manufacturer-importer 2.3 The major service offered by a fashion merchandising organization 2.3.1 Private label programme 2.3.2 Group purchasing 2.3.3 Centralized buying 2.3.4 Other merchandising services 2.4 The major organizational structures for fashion merchandising activities 2.4.1 Functional division type 2.4.2 Product/market division type 2.4.3 Matrix organization type 1 Objectives After studying this chapter, you should understand the following: the various types of fashion merchandising organizations major merchandising services offered by these organizations the major ways to establish merchandising organizational structure Case Study The merchandising agent, Fashiontex, received a set of lab-dip (colour dyeing samples) from the supplier, for final confirmation as the pre-production standard in dyeing process. The team checked the samples with the original standard provided from its European buyer and found the sample very satisfactory. The colour shades submitted from the supplier were nearly 100 percent the same as the original ones. The team was very confident that the buyer would accept it and grant approval for bulk production. In normal procedure, the team would...
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...The skills you have, show what kind of a person you will be when working. The skills are split up into three categories which are employability skills, personal skills and communication skills. At Tesco’s merchandisers are really important people. They are responsible for ensuring that products appear in the right storm or on a website, at the appropriate time and in the correct amounts. This includes working closely with the buying teams to accurately forecast trends, plan stock levels and monitor performance. While the buyer selects the lines, the merchandiser decides how much money should be spent, how many lines should be bought, and in what quantities. In smaller companies, the same person may be responsible for both buying and merchandising. Merchandisers at Tesco play an important role, as profitability can be affected by how successfully...
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