MANAGEMENT

Detailed explanation-1: -In 1927, Paul Mazur defined retail product merchandising as the five rights of merchandising: 1) the right merchandise, 2) in the right quantities, 3) at the right time, 4) at the right price, 5) in the right place.

Detailed explanation-2: -Merchandising is synonymous with the sale of goods in retail with the target being the customer. Examples of merchandise include clothes, shoes, furniture, electronics, cleaning products, and food products among others. The intention of selling merchandise is to make a profit.

Detailed explanation-3: -Merchandising involves selling products in a retail setting. There are three levels of merchandisers: floor staff, associate level, and manager level.

Detailed explanation-4: -A retail buyer focuses on product. They research fashion trends and are responsible for selecting the products that appear in store or online. Retail merchandisers ensure commercial and financial viability of the product.