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The term product assortment refers to the combination of both product breadth and depth. 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.
Assortment plan is a trade-off between the breadth and depth of products that a retailer wishes to carry. Assortment optimization refers to the problem of selecting a set of products to offer to a group of customers to maximize the revenue that is realized when customers make purchases according to their preferences.
Geomarketing has a direct impact on the development of modern trade and the reorganization of retail types. Site selection becomes automated and based on scientific procedures that saves both time and money. Geomarketing uses key facts, a good base map, Whois data layers, consumer profiling, and success/fail criteria.
Fun facts aside, one of the most important strategies that Steve Jobs implemented upon his return was to quickly slim down Apple's product offerings by focusing on depth instead of breadth, which ...
In addition to Newton's Law of Gravity in the physical sciences, there were other antecedents to Reilly's "law" of retail gravity. In particular, E.C. Young in 1924 described a formula for migration that was based on the physical law of gravity, and H.C. Carey had included a description of the tendency of humans to "gravitate" together in an 1858 summary of social science theory.
The Motley Fool talks with Qualtrics CEO Ryan Smith, one of Forbes' "Most Promising CEOs Under 35." Ryan's online data collection and analysis platform has enjoyed meteoric growth and success in ...
Just as you would describe a physical object like a piece of lumber using standard characteristics (e.g., height, width, depth), a supply chain requires standard characteristics to be described. Without these characteristics it is extremely difficult to compare an organization that chooses to be the low-cost provider against an organization ...
The retail format (also known as the retail formula) influences the consumer's store choice and addresses the consumer's expectations. At its most basic level, a retail format is a simple marketplace , that is; a location where goods and services are exchanged.