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In general, Retail Industry - any Product can be defined in multiple ways ( hierarchy )
* Department
* Sub-department
* Class
* Commodity
* Sub-commodity
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What is product hierarchy with example?
the product hierarchy stretches from basic needs to particular items that satisfy those needs.We can identify 6 levels of product hierarchy 1. need family 2. product family 3. product class 4. product line 5. product type
What you mean by retail?
Retail is defined as the sale of goods to the public in small quantities. As long as a product is sold to the public and not for resale, it is considered to be a retail product.
Does net price refer to manufactures suggested retail price or wholesale price?
Net price is wholesale pricing. This usually indicates that the manufacturer does not have a set retail price for its product, and whatever you retail the product for is up to you. So check with your competitors as to what is the average markup on that product for your industry.
What does upc stand for in retail merchandising?
Universal product code
What are examples of retail services?
Retail is the practice of selling products. Someone who uses a retail service is trying to sell a product to a consumer base usually from a manufacturer.
What is product hierarchy with example?
the product hierarchy stretches from basic needs to particular items that satisfy those needs.We can identify 6 levels of product hierarchy 1. need family 2. product family 3. product class 4. product line 5. product type
What you mean by retail?
Retail is defined as the sale of goods to the public in small quantities. As long as a product is sold to the public and not for resale, it is considered to be a retail product.
What is a sample outlets?
In shopping, you have retail and outlet. Retail is the price you pay when a product is new in the season, not on sale. An outlet product is a product of, for example, last season, which will be "out" Sample outlets are outlets for clothes that the mannequins wear in the shops. They are cheaper then normal outlet or retail.
What is product miles?
Product miles are the number of miles a product needs to travel to reach its retail destination.
Does net price refer to manufactures suggested retail price or wholesale price?
Net price is wholesale pricing. This usually indicates that the manufacturer does not have a set retail price for its product, and whatever you retail the product for is up to you. So check with your competitors as to what is the average markup on that product for your industry.
What do you mean by retail management?
retail refers- through a company or person make availability of more types of product at one place for customer,, retail management mean to manage the customer at one place for more product.
What is retail purchase?
to buy a product, goods or a service
Difference between retail and hospitality?
Retail provides a product for sale. Hospitality provides a service for sale
How do you get your product in grocery stores?
It is very advantageous if you can get a distributor interested in your product. They can get you into specialty food or retail product expos where you can exhibit your product to buyers for the retail grocery chains.
What does upc stand for in retail merchandising?
Universal product code
What is the average retail profit margain?
The average retail profit margin is around 8 percent. Retail makes their profits by selling large quantities of product.
What are examples of retail services?
Retail is the practice of selling products. Someone who uses a retail service is trying to sell a product to a consumer base usually from a manufacturer.
