Study Guides (390,000)
CA (150,000)
Ryerson (10,000)
RMG (80)
RMG 400 (10)
Final

RMG 400 Study Guide - Final Guide: Haute Couture, Mass Customization


Department
Retail Management
Course Code
RMG 400
Professor
Hong Yu
Study Guide
Final

This preview shows half of the first page. to view the full 3 pages of the document.
Chapter6 :
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,
Personnel
TYPES OF PRODUCTS CUSTOMERS PURCHASE
What types of products do your customers most often purchase?
How much time are customers willing to spend buying a particular product?
What are customers’ expectations about durability and product quality?
Are your customers fashion forward?
Do customers expect your store to have “new” and cutting-edge products?
Will your customers purchase the latest fads and crazes?
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:
a. Convenience products
b. Shopping products
c. Specialty products
d. Fashion products
Purchases Based on Durability and Quality
Durability refers to how long a product will last
Durables: Products that are capable of surviving many uses and usually last for years,
such as cars, furniture, and appliances
Nondurables: Products that are used up in a few uses or become out-of-date as styles
change
The largest category of non-durables is
A. Food
B. Apparel
C. Furniture
D. Automobiles
Purchases Based on Fashion Appeal
Style is a basic and distinctive mode of expressionthe appearance of a product
Styles can be
eye-catching,
or they may
never excite
shoppers
Purchasing “New” Products
Before adding new products, consider:
You're Reading a Preview

Unlock to view full version