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Assortment strategies are used by retailers in brick-and-mortar and ecommerce to decide on a daily basis how to allocate inventory to their stores as part of their merchandise planning processes. Such strategies are integral for retailers because they directly affect how their customers interact with their merchandise, and therefore, their brand.
The main characteristics of a company's product assortment are: [4] (1) the length or number of products lines the number of different products carried by a store (2) the breadth refers to the variety of product lines that a store offers. It is also known as product assortment width, merchandise breadth, and product line width.:
The marketing mix is the set of controllable elements or variables that a company uses to influence and meet the needs of its target customers in the most effective and efficient way possible. These variables are often grouped into four key components, often referred to as the "Four Ps of Marketing."
In addition, this particular channel has three main ways of direct selling and these include; peddling, mail-order sales and trade through manufacturer-owned stores. [5] Peddling is an outdated version of trade between two parties and consignments are often sold in small amounts by sellers who are traveling to different places.
Category management lacks a single definition thus leading to some ambiguity even among industry professionals as to its exact function. Three comparable mainstream definitions are as follows: "a process that involves managing product categories as business units and customizing them [on a store by store basis] to satisfy customer needs" (Nielsen).
Nature indeed furnishes us with the bare Necessaries of Life, but Traffick gives us greater Variety of what is Useful, and at the same time supplies us with everything that is Convenient and Ornamental. [36] Luca Clerici has made a detailed study of Vicenza’s food market during the sixteenth century. He found that there were many different ...
One 1992 study stated that 26% of American supermarket retailers pursued some form of EDLP, meaning that the other 74% promoted high-low pricing strategies. [2]A 1994 study of an 86-store supermarket grocery chain in the United States concluded that a 10% EDLP price decrease in a category increased sales volume by 3%, while a 10% high-low price increase led to a 3% sales decrease.
A merchandise's licensing disclaimer printed on the back of a Hot Wheels packaging. 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.