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Merchandising session3

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Published on February 14, 2008

Author: Dionigi

Source: authorstream.com

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eMerchandising Enhancing the Online Shopping Experience ____________________________ part 3 of 3:  © 2002 Novator Systems eMerchandising Enhancing the Online Shopping Experience ____________________________ part 3 of 3 Presentation Overview:  Presentation Overview Part One What is Online Retailing What is Online Merchandising? Aspects of Online Merchandising The Internet as Retail Channel Merchandising Drives Revenue Part Two Customer is Key Design Strategies ______________________________________________________________ Part Three Online Merchandising Tools Online Merchandising Techniques Net Take-Aways Online Merchandising Assessment Checklist Online Merchandising Tools: Content + Functionality:  Online Merchandising Tools: Content + Functionality Tools that merchandising uses to enhance the shopping experience and stimulate sales: • Content • Functionality Online Merchandising Tools: Content + Functionality:  Online Merchandising Tools: Content + Functionality Tulipworld.com Online Merchandising Tools: Content + Functionality:  Online Merchandising Tools: Content + Functionality Tulipworld.com Online Merchandising Tools: Content + Functionality:  Online Merchandising Tools: Content + Functionality Tulipworld.com Online Merchandising Tools: Content + Functionality:  Online Merchandising Tools: Content + Functionality Tulipworld.com Online Merchandising Techniques: Repetition:  Online Merchandising Techniques: Repetition • Attention • Interest • Desire • Action Online Merchandising Techniques: Repetition:  Online Merchandising Techniques: Repetition Online Merchandising Techniques: Repetition:  Online Merchandising Techniques: Repetition You need to repeat your offers to your prospects over and over again if you hope to get their Attention, their Interest, their Desire, and finally and most importantly, their Action. Online Merchandising Techniques: The Landing Strip:  Online Merchandising Techniques: The Landing Strip Make use of the Home Page: The real world rule about the need for a transitional zone just inside the entrance applies online. Online Merchandising Techniques: The Landing Strip:  Online Merchandising Techniques: The Landing Strip Once shoppers arrive at a site, they need a little time and space to orient themselves before being overwhelmed with information/choices. Online Merchandising Techniques: Content Organization:  Online Merchandising Techniques: Content Organization Organize Web pages: • Consistent • Simple • Logical • Inspires Trust/Comfort Online Merchandising Techniques: Lifestyle Branding:  Online Merchandising Techniques: Lifestyle Branding Photographs of people using products is a powerful persuasion tool. It’s a smooth way to move from product selling to product merchandising online. Online Merchandising Techniques: Lifestyle Branding:  Online Merchandising Techniques: Lifestyle Branding A good lifestyle image can incorporate several of your products. Online Merchandising Techniques: Product Presentation:  Online Merchandising Techniques: Product Presentation Product presentation considerations: How should the products be introduced to the customer? How should products be displayed within the “display environment”? Online Merchandising Techniques: Product Positioning:  Online Merchandising Techniques: Product Positioning Product positioning considerations: What products should be suggested to the customer? When should the products be introduced to the customer? Online Merchandising Techniques: Product Interaction:  Online Merchandising Techniques: Product Interaction Make the customer experience interactive as often as possible. It keeps shoppers involved/engaged. It’s informative/impactful. It adds value. Online Merchandising Techniques: Product Locators:  Online Merchandising Techniques: Product Locators Product Classification Scheme/Search Mechanism Product Categorization Visual Catalog Parametric Comparison Table of Contents /Site Maps Online Merchandising Techniques: Product Locators :  Online Merchandising Techniques: Product Locators Online Merchandising Techniques: Product Locators :  Online Merchandising Techniques: Product Locators Online Merchandising Techniques: Product Segregation:  Online Merchandising Techniques: Product Segregation Creating groupings of related products simplifies signage and makes it easy to display information materials within the section. Additionally, your shoppers are able to find the specific product group they need in one convenient place. Online Merchandising Technique: Product Integration:  Online Merchandising Technique: Product Integration An alternative merchandising strategy integrates products with complementary products. It encourages customers to shop the area they are interested in, while using the power of suggestion to offer other products they may need or want as well. This strategy can increase AOV. Online Merchandising Techniques: Problem-Solving:  Online Merchandising Techniques: Problem-Solving Online Merchandising Technique: Accessorisation :  Online Merchandising Technique: Accessorisation Online Merchandising Technique: Accessorisation :  Online Merchandising Technique: Accessorisation Online Merchandising Technique: Accessorisation :  Online Merchandising Technique: Accessorisation Online Merchandising Technique: Cross-Selling :  Online Merchandising Technique: Cross-Selling Online Merchandising Technique: Up-Selling :  Online Merchandising Technique: Up-Selling Online Merchandising Techniques: Product Bundling :  Online Merchandising Techniques: Product Bundling Online Merchandising Techniques: Customer Relationship Tools:  Online Merchandising Techniques: Customer Relationship Tools Customer relationship data helps shape merchandising strategies: Customer Preferences • Demographics Past Purchases • Contracts Online Merchandising Techniques: Customer Relationship Tools:  Online Merchandising Techniques: Customer Relationship Tools Accumulate preferences and purchase history on an ongoing basis in a customer profile—and ensure that this data can be linked with product detail for subsequent promotions. Online Merchandising Techniques: Personalization:  Online Merchandising Techniques: Personalization Personalization of the customer experience creates loyalty. “My Account” Reward Loyalty (i.e. Frequent Buyer Programs) Targeted E-Mail Online Merchandising Techniques: Customization:  Online Merchandising Techniques: Customization Meeting customer-specific requirements cements relationships. Dynamic Imaging • Real-Time Pricing • Time-Based Pricing Online Merchandising Techniques: Special Offers:  Online Merchandising Techniques: Special Offers Special offers provide repetitive value: Members’ “Deal” Area Promotional Pricing Online Merchandising Techniques: Promotions:  Online Merchandising Techniques: Promotions Shoppers are looking for value. Promote to keep the product category top-of-mind: Demonstrations In-Store Promotions Advertising Category Discount Pricing Banner Ads Online Merchandising Techniques: Targeting:  Online Merchandising Techniques: Targeting By selecting the most appropriate products, promotions can be targeted to the right customers, at the right time. For perfect targeting, the retailer has complete information on the specific shopper, including past purchases (at other stores), known needs, and (profile projected) unarticulated desires. Online Merchandising Techniques: Customer Service:  Online Merchandising Techniques: Customer Service Get shoppers and build sales: An educated sales staff to answer customer concerns is essential. They understand the products and, more importantly, the value of the products; they can tell consumers why a product is good, or compared to another, why it’s better. Online Merchandising Techniques: Consumer Education:  Online Merchandising Techniques: Consumer Education Offer your shoppers the information they need to be better informed. Have plenty of point-of-purchase information available to shoppers on the Web site. Online Merchandising Techniques: Affiliate Programs:  Online Merchandising Techniques: Affiliate Programs Referral, associate, or partnership programs offer a way to put Web site traffic to use so that it generates income. The best affiliate programs provide online tracking; you can see how many sales have been generated and keep an eye on commissions. Online Merchandising: Enhancing the Shopping Experience:  Online Merchandising: Enhancing the Shopping Experience Online Merchandising : Enhancing the Shopping Experience:  Online Merchandising : Enhancing the Shopping Experience Online Merchandising : Enhancing the Shopping Experience:  Online Merchandising : Enhancing the Shopping Experience Online Merchandising Assessment Checklist:  Online Merchandising Assessment Checklist 1. Repetition Are you repeating offers to your prospects over and over again to get their Attention, their Interest, their Desire, and finally, their Action? 2. Landing Strip Are you using the Home Page to greet customers, remind them where they are, and starting the seduction? 3. Content Presentation Have you established a simple and consistent format for the pages of your Web site? A style and tone for content presentation? 4. Lifestyle Branding Are there opportunities to use photographs of people using products, or images that incorporate several products to create a sense of product enjoyment? 5. Product Presentation How should the products be introduced to the customer and how should the products be displayed within the “display environment”? 6. Product Positioning What products should be suggested to the customer? When should the products be introduced to the customer? Online Merchandising Assessment Checklist:  Online Merchandising Assessment Checklist 7. Product Interaction Do customers have a reason to shop online? Do we offer value beyond the in-store experience? 8. Product Locators Can buyers search and find products they need using a search mechanism? Are products classified so buyers can locate them easily? 9. Product Segregation/Collections Are there opportunities to group several products into a collection that can be used together to create a complete solution to the customer's needs? 10. Product Integration Are there opportunities to display products with other companion products offering suggestions of how and where to use or apply a specific product? 11. Problem-Solving Are you implementing techniques to match the right products to the customer’s needs? 12. Accessorisation Can the product be placed in a situation that raises the appeal? Online Merchandising Assessment Checklist:  Online Merchandising Assessment Checklist 13. Cross-selling Can you offer a complementary product to be purchased at the same time? 14. Up-selling Can you offer a more capable (and more costly) version of a product? 15. Product Bundling Can you offer the customer an incentive to buy more by presenting complete solutions? 16. Customer Relationship Tools Are you recording customer relationship data, such as product preferences, past purchases, and demographics in data attributes? 17. Personalization Are there features that drive repeat business and create loyalty, including "my account” and frequent buyer programs? 18. Customization Can you meet a customer-specific requirement? Online Merchandising Assessment Checklist:  Online Merchandising Assessment Checklist 19. Special Offers Is promotional pricing being used to provide repetitive value to members? 20. Promotions Is the product being promoted to keep the category top-of-mind? 21. Targeting Is there an ability to select appropriate products, promoting the right products to the right customers, at the right time?? 22. Customer Service Are you answering customer concerns and helping customers understand the value of the products? 23. Consumer Education Is there point-of-purchase information available to shoppers on the Web site? 24. Affiliate Programs Are there any partnership programs in place? Presentation Overview:  Presentation Overview Part One What is Online Retailing What is Online Merchandising? Aspects of Online Merchandising The Internet as Retail Channel Merchandising Drives Revenue Part Two Customer is Key Design Strategies Part Three Online Merchandising Tools Online Merchandising Techniques Net Take-Aways Online Merchandising Assessment Checklist eMerchandising Enhancing the Online Shopping Experience :  © 2002 Novator Systems eMerchandising Enhancing the Online Shopping Experience References:  References How to Excel in E-Merchandising Make It Easy for Customers to Buy Your Products and Services the Patricia Seybold Group. Published: February 2001 Advertising Principles and Practices William Wells, John Burnett, Sandra Moriarty. Why We Buy. The Science of Shopping Paco Underhill. Touchstone. Published by Simon & Schuster The Tipping Point Malcolm Gladstone. [check] ??Touchstone. Published by Simon & Schuster Research on Psychographic Profiling Goldfarb Consultants. http://www.goldfarbconsultants.com/who_are_you/index.htm Holiday 2000 E-Commerce. Avoiding $14 Billion in “Silent Losses” Aamir Rehman. October 2000. www.creativegood.com "10 Best Bets" to Boost The E-Commerce Bottom Line March 19, 2002. Wayne N. Kawamoto. Managing Editor,www.smallbusinesscomputing.com References:  References Effective Online Merchandising Techniques. http://www.allen.com The Bottom Line in Web Design: Know Your Customer Mark W. Vigoroso E-Commerce Times November 14, 2001 http://www.ecommercetimes.com/perl/story/14738.html Strategies for online merchandising IBM Net.Commerce and IBM Catalog Architect. White Paper. IBM. Slide 23. Session 2. 11 Web Site Design Tips to Help Keep Your Visitors Coming Back Again and Again. Joe Gracia Slide 25 Session 2. 15 Strategy Tips to Help Create a Magnetic Web Site. Joe Gracia Frank W. Woolworth, pioneer of the five and dime stores. Frank W. Woolworth had a keen eye for business. The forerunner of the clearance table today was quick to realize that a store of nothing but nickel priced merchandise would attract the frugal housewives. http://nd.essortment.com/woolworthfw_ramc.htm Give to Get Marketing. http://www.givetogetmarketing.com References:  References 60-Minute Marketing. Cracking the Code on Winning E-Marketing Organizations Marketing Practice. McKinsey&Company Online Customer Management. Five Killer Actions to Drive Your E-Business Marketing Practice. McKinsey&Company The New Physics of Customer Loyalty Manage Customer Migration Based on the Loyalty Profile of Your Customer Base Marketing Practice. McKinsey&Company Unlock Your Brand. Create Value by Focusing on “High-Impact Attributes” Marketing Practice. McKinsey&Company Harnessing the Power of E-mail. How to Get Real Impact From Online Communications Marketing Practice. McKinsey&Company The McKinnsey Group. http://www.retail.mckinsey.com/merc.html Slide 39. Session 3. CNET Builder.com's Affiliate Center http://builder.cnet.com/webbuilding/pages/Business/AffiliateCenter/ References:  References Sites discussed during this presentation barnesandnoble.com amazon.com cdnow.com hallmark.com walmart.com target.com redenvelope.com jcpenny.com sears.com sharperimage.com marthastewart.com nordstroms.com powells.com References:  References Best Practice Favorites: Getting The Basics Right Design, content, branding, usability, merchandising, and production. bluenile.com Neutral environment allows viewers to focus on products. Unique gift ideas section. windowbox.com Gift Advisor and The Plant Game are quirky and original. apple.com Committment to design and the brand is evident. Consistent graphic treatment and superb attention to design details. adobe.com Well organized sections. Visually appealing home page treatment takes products "out of the box." Colour coding defines store vs. corporate. tulipworld.com Nice color accents. Interesting shopping advisor ideas. chiasso.com Horizontal scroll optimizes use of valuable feature product area. Users without Flash get static images. fanniemay.com Friendly design. Good use of DHTML technology. playcentric.com Well laid-out, easy to browse, easy to shop. Handy currency converter changes prices on the site by country. References :  References Pushing the Limits: Great ideas. Watch for usability across browsers and bandwidths. habitat.co.uk Flash site. Unique navigation. iht.com Everyone agrees. The best news site around. Funky features such as rollover menus and clippings, require IE 5.0 and greater or Netscape 6. relevare.com More Flash fun. Original yet intuitive navigation treatment. References :  References Honorable Mentions: Something caught our eye! epicurious.com Inspires all the senses. motown.comb Flash site offers two experiences in one. Motown Now: rotating feature content on the home page. Classic Motown: exploration from timelines, music clips, and a Motown jukebox. hitachi-online.ru Although not readable in English language browsers, the sophisticated layout and use of black, white, grey, and red is interesting. dewars.com Brand appeal. Convergence between media — print and Web. History blended well with appeal to a younger audience. p-art.co.uk Functions as an Art Gallery online. Quirky, imaginative, yet accessible. eMerchandising Enhancing the Online Shopping Experience ____________________________ end of p art 3 of 3:  © 2002 Novator Systems eMerchandising Enhancing the Online Shopping Experience ____________________________ end of p art 3 of 3

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