BUISENESS MANAGEMENT
MERCHANDISING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Calls vendors to get product information
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Uses information from trade associations for merchandise planning
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Reviews past sales records to see what merchandise sold the best
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Hires resident buying offices to assist with merchandise planning
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Detailed explanation-1: -For example, retail merchandising includes classifications like Clothing Accessories Stores (code 448150) and Shoe Stores (code 448210). The NAICS accepts that “knowledge of fashion trends” is a service that various retailers in the retail merchandising category provide.
Detailed explanation-2: -Merchandise is the term used for any product that you can sell or buy. Any good for sale is merchandise, some examples include groceries in a supermarket, clothes in a retail store, electronics on a website or raw materials in a manufacturing warehouse.
Detailed explanation-3: -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.