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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.:
Distribution (or place) is one of the four elements of the marketing mix: the other three elements being product, pricing, and promotion. Decisions about distribution need to be taken in line with a company's overall strategic vision and mission. Developing a coherent distribution plan is a central component of strategic planning. At the ...
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).
In the United States and Canada there are more than 6,700 off-price format retail stores. In Europe, there are about 1,500 off-price retailer stores, most of them belonging to the 3 biggest networks: 540 to TK Maxx (inclusive in TJX Companies), [ 28 ] and more than 300 to the huge French off-price retailer NOZ. [ 30 ]
In other words, manufacturers produce large quantity of goods and products but are limited in its assortment and merchandise. Consumers seek a wider variety in lesser quantities. [ 9 ] Therefore, it is highly essential to distribute goods from different manufacturers to suit consumers needs and wants.
A decade later, the US retailer, Montgomery Ward also devised a catalogue sales and mail-order system. His first catalogue which was issued in August 1872 consisted of an 8 in × 12 in (20 cm × 30 cm) single-sheet price list, listing 163 items for sale with ordering instructions for which Ward had written the copy.
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.