Retail Assortment - (Merchandise Selection & Management)

Question 1

How does a Retailer add value in the Supply Chain of products/services?

Answer 1

Allows access to products via Outlets

Gives an Assortment

Customer Service

Breaking Bulk (allowing customers to buy goods in smaller parcels)

Question 2

What is the Key FRONT STAGE component of the retail strategy?

Answer 2

To create SALES with the right TARGET MARKET.

Question 3

What is one major element of the Retailer Brand?

Answer 3

To contribute to the RIGHT STORE IMAGE

Question 4

What is the one critical component of retail marketing?

Answer 4

Shopping Convenience

Question 5

The KEY role of Product Management is?

Answer 5

How retailers put Pricing Strategies in place

Communicating with customers

Reinforces Brand

Attracts Customers

Distinctiveness

Question 6

What is the ROLE of products? (eg. what do they do for the company).

Answer 6

Help the retailer to be distinctive

Gain competitive advantage

Question 7

What are bad/don’ts for products?

Answer 7

Having a very deep product range

Having scrambled merchandising

Question 8

What are the reason for BRANDS?

Answer 8

Assist customers to make informed choices

Reassure of QUALITY and VALUE

A ‘shorthand’ for FEATURES and BENEFITS

Question 9

What is the 10 step model used for?

Answer 9

The Merchandising Buying System

Question 10

What are some EMERGING trends for brands?

Answer 10

Increase in own brands

Repositioning of own brands

Range of brands - More ‘Premium” brands