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Canada (508,934)
RMG 400 (49)
Lecture

Assortment Plans

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Department
Retail Management
Course
RMG 400
Professor
Bharat Sud
Semester
Fall

Description
Planned Purchases = Sales + Reductions + EOM – BOM Being overbought usually causes all of the following: Markdown increased, maintained markups will increase, Profits will decrease EOM Stock is the same as BOM for next month CHAPTER 9 What does assortment planning involve: • Determining specific quantities and characteristics of each products: Brands, Sizes, Colors, Materials What are the goals of effective assortment planning: • Balanced assortment of merchandise • Meet the needs of as many customers as possible (Understanding customer critical) Factors affecting assortment: Types of Merchandise: • Fashion (High demand, short time span) • Basic / Seasonal (Easier buying – based on past records) • Convenience / Specialty (Expected to be in stock, Large assortment not needed as brand is not important) Store Policies: • Quality and Price Range (Usual
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