Chapter 14 Study Guide - Chapter 14 Developing Merchandise...

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Chapter 14- Developing Merchandise Plans Merchandising : consists of the activities involved in acquiring particular goods and/or services and making them available at the places, times and prices and in the quantity that enable a retailer to reach its goal Merchandise Philosophy : sets the guiding principles for all the merchandise decisions that a retailer makes -must reflect target market desires, the retailer’s institutional type, marketplace positioning, the defined value chain, supplier capabilities, costs, competitors, product trends, and other factors Trends in retailing to be familiar with: Micromerchandising : a retailer adjusts shelf-space allocations to respond to customer and other differences among local markets –“planning differently” Ex: Wal-Mart allots space to product lines at various stores to reflect differences in demographics, weather and shopping Cross-merchandising : a retailer carries complementary goods and services to encourage shoppers to buy more Ex: apparel stores stocking accessories, or auto dealers offering extended warranty There are 6 MAJOR FACTORS INVOLVED IN DEVELOPING A MERCHANDISE PLAN (but they are not mutually exclusive): 1. Forecasts :
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