What is meant by merchandising strategy? Explain its different components.

Merchandising strategy refers to a comprehensive plan or approach that retailers or businesses use to optimize the sale of products and improve overall business performance. It involves various aspects such as product selection, pricing, promotions, placement, and presentation to attract customers, increase sales, and maximize profits.

Here are the key components of a merchandising strategy:

1. Product Selection and Assortment:
   • Choosing the right mix of products to offer based on market research, customer preferences, trends, and seasonality.
   • Segmenting products into categories and subcategories for effective management and display.
2. Pricing Strategy:
   • Determining the appropriate pricing strategy based on market conditions, competition, production ________ ____ ___ ___ ______ _______ ________ __________ ____.
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