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What are the components of merchandise planning?
The components of merchandise planning. Product. First and foremost, the basic component of any merchandise mix is the product. ... . Range. This refers to the variety of merchandise that you sell. ... . Price. ... . Assortment. ... . Space. ... . Perform a post-season analysis. ... . Forecast sales. ... . Plan and implement the assortment.. What are the four components of a merchandise plan?
There are four key components of merchandising: buying, planning, managing, and controlling. These four components must lead to, above all, providing the store's customers a highly desirable merchandise mix. This mix needs to be adjusted as the needs of the store's target market customer's change.
What are the basic functions of merchandise planning?
Merchandise planning seeks to satisfy consumer demand by making the right merchandise available in the right place at the right time and price and in the right quantities. Do you want to always have the right products in-store at the right time to please shoppers and maximise your sales?
What is the process of merchandise planning?
Merchandise planning is a method of selecting, managing, purchasing, displaying, and pricing the products in a manner that brings in maximum returns on investment, value addition to the brand name by satisfying the consumer needs while avoiding the creation of excess inventory.
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