How Does Optimization Software Help Retailers to Price Merchandise

question 32

Multiple Choice

How does optimization software help retailers to price merchandise?

• 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 helps the retailer pursue legal markdowns by adhering to the Robinson-Patman Act.

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Definitions:

Fixed Costs

are business expenses that remain unchanged irrespective of the level of production or sales activity, such as rent, salaries, and insurance.

Line of Sight

The clear and understandable link employees see between their job performance and outcomes and the overall objectives or goals of the company.

Straight Commission Plan

A compensation strategy where an employee's pay is based solely on sales generated or results achieved, without a base salary.

Medical Imaging

The technique and process of creating visual representations of the interior of a body for clinical analysis and medical intervention.