BUSINESS ADMINISTRATION
RETAIL MARKETING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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High-mark up, Lower volume group
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Low-mark up, Higher volume group
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High-mark up, Higher volume group
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None of the above
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Detailed explanation-1: -A mass-market retailer, or mass merchandiser, is a company that affordably sells large quantities of goods that appeal to a wide variety of consumers.
Detailed explanation-2: -Keystone pricing Keystone pricing is essentially doubling the wholesale or production cost of a product to determine the retail price. This practice actually stems from the MSRP, which, as we mentioned, is generally double the wholesale price.
Detailed explanation-3: -Product assortment consists of the following characteristics: Breadth: The breadth of a company’s products relates to the number of product lines a company produces or a retailer carries. An automobile manufacturer, for example, may have a line of sedans, a line of SUVs, and a line of trucks.