Retailers Examining Their Product Mix Find That a Third of Their

question 53

Essay

Retailers examining their product mix find that a third of their products are not profitable or do not make economic sense. Yet these products still take up retail shelf space. Why does this continue and what techniques are retailers using to "tighten" this process?

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Definitions:

Inattentional Blindness

A psychological phenomenon where an individual fails to perceive an unexpected stimulus in plain sight due to the focus of attention elsewhere.

Visible Objects

Items or entities that can be seen by the human eye under normal light conditions.

Selective Attention

The process by which a person focuses on one particular object or task, ignoring other stimuli or information.

Physical Appearance

The outward look or visual aspects of a person or object, including features, shape, and color, which can impact social perceptions.