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The term product assortment refers to the combination of both product breadth and depth. The main characteristics of a company's product assortment are: [4] (1) the length or number of products lines the number of different products carried by a store (2) the breadth refers to the variety of product lines that a store offers.
Assortment plan is a trade-off between the breadth and depth of products that a retailer wishes to carry. Assortment optimization refers to the problem of selecting a set of products to offer to a group of customers to maximize the revenue that is realized when customers make purchases according to their preferences.
Retail life cycle theory explains how the existing retail formats develop and why the retail formats develop in this way. Many different factors, such as price cycle, market environment and macroeconomic fluctuations and so on, are attributed to the influence of retail life cycle, which makes the theory more convincing.
The retail format (also known as the retail formula) influences the consumer's store choice and addresses the consumer's expectations. At its most basic level, a retail format is a simple marketplace , that is; a location where goods and services are exchanged.
Brand extension research mainly focuses on consumer evaluation of extension and attitude toward the parent brand. In their 1990 model, Aaker and Keller provide a sufficient depth and breadth proposition to examine consumer behaviour and a conceptual framework. The authors use three dimensions to measure the fit of extension.
Fun facts aside, one of the most important strategies that Steve Jobs implemented upon his return was to quickly slim down Apple's product offerings by focusing on depth instead of breadth, which ...
The Motley Fool talks with Qualtrics CEO Ryan Smith, one of Forbes' "Most Promising CEOs Under 35." Ryan's online data collection and analysis platform has enjoyed meteoric growth and success in ...
Prioritize breadth over depth of skills. Ruth Umoh, Natalie McCormick. October 14, 2024 at 6:24 AM. Photograph by Ryan Donnell/Fortune. ... employee development, and growth. ...