How does optimization software help retailers in taking markdowns?
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 indicates markdowns based on how long the merchandise has been in the store.

Question

Quizplus · Accepted Answer

Optimization software works by continually updating its pricing forecasts on the basis of actual sales throughout the season and factoring in differences in price sensitivities. Each week, as new sales data become available, it readjusts the forecasts to include the latest information.

How Does Optimization Software Help Retailers in Taking Markdowns