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:

Contingency Approach

A management theory that suggests the most appropriate form of organizational behavior depends on the specifics of the situation at hand.

Management Style

The approach or method leaders use to direct, motivate, and manage their teams or organizations.

Demands

The requirements or pressures placed upon an individual or organization, which may range from work-related tasks to social expectations.

Human Relations Movement

A management philosophy that emphasizes the importance of considering workers' psychological and social needs to increase productivity and job satisfaction.