An approach to managing the assortment of merchandise in which a manger is assigned the responsibility for selecting all products that consumers in a market segment might view as substitutes for each other, with the objective of maximizing sales and profits in the category, is referred to as _________.

Question

Quizplus · Accepted Answer

Category management is an approach to managing merchandise assortment in which a manager is responsible for selecting all products that consumers in a market segment might view as substitutes for each other, with the objective of maximizing sales and profits in the category. Efficient consumer response, automatic reordering, and retail inventory management are other inventory management techniques, but do not specifically address the selection of substitutes and maximizing sales in a category. Autocratic inventory control is not a recognized inventory management technique.

An Approach to Managing the Assortment of Merchandise in Which