MANAGEMENT

Detailed explanation-1: -Retail channels are the various places consumers can purchase products, including in-store locations, ecommerce websites, or catalogs.

Detailed explanation-2: -Merchandise management is the process through which each retailer decides what items to carry, how much to have on hand to meet the needs of customers, where they should be displayed in the store to maximize sales, and how they should be priced to sell the best and maximize profits.

Detailed explanation-3: -There are four key components of merchandising: buying, planning, managing, and controlling. These four components must lead to, above all, providing the store’s customers a highly desirable merchandise mix. This mix needs to be adjusted as the needs of the store’s target market customer’s change.