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2 Distinguish between variety and assortment Why are these important elements of the retail market structure?
1. on the basic level variety is just a collection of different products whereas assortment is a collection of variations of a single product. in assortment, the differentiation is in terms of brands, material, sizes e.t.c.
2. a) assortment
* influences the choice of store for a consumer to patronize
* helps cater for different price ranges
.* caters for the various tastes and preferences of customers
* increase profitability for the retailer
b) variety
* helps retailers tap into a wider market share
* increase profitability for the retailer
* aids in the presentation of the shop i.e. makes it look attractive
* competitive advantage
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