RMG 400 Study Guide - Final Guide: Haute Couture, Mass Customization
8 Dec 2012
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Product selection decisions: merchandise mix : the types or mix of products that are available for customers to purchase, product line: a group of products that are closely related because they function in a similar manner. Product selection decisions: decisions made by top management in the following areas will determine the image that the store projects to its customers. Target market, competition, store location and layout, merchandise selection, Purchases based on availability: availability refers to the amount of effort customers are willing to exert to obtain a particular product, products purchased can be grouped into four categories: Convenience products, impulse products, shopping products, specialty products: products that the consumer is not willing to spend time, money, and effort in locating and evaluating are, convenience products, shopping products, specialty products, fashion products. Purchases based on durability and quality: durability refers to how long a product will last.
