How Does Optimization Software Help Retailers in Taking Markdowns

question 57

Multiple Choice

How does optimization software help retailers in taking markdowns?

• A) It gives retailers the point at which it is optimal to job-out and consolidate.
• B) It updates pricing based upon actual sales and factors in differences in price sensitivities.
• C) It continually updates buyers on sales by price beginning at the point of sale.
• D) It dictates markdown merchandise into one percentage markdown per week in the store.
• E) It indicates markdowns based on how long the merchandise has been in the store.

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Definitions:

Pay-per-view

A type of television or online streaming service where viewers pay a fee to watch a specific event or program, typically special sports events or movies.

Consumer Surplus

The difference between what consumers are willing to pay for a good or service versus what they actually pay, measuring consumer benefit.

Single-Price Monopoly

A market structure where the monopolist offers its product to all consumers at the same price, without price discrimination.

Pay-per-view

A service that allows consumers to pay for and watch individual events or content, typically through a cable or satellite TV provider or online platform.