What is merchandise assortment? Describe different steps in the planning of merchandise assortment.

Merchandise assortment refers to the selection of products that a retailer offers for sale in its stores or online. This assortment is crucial for meeting customer needs, maximizing sales, and optimizing inventory levels. Effective merchandise assortment management ensures that the right products are available at the right time, in the right quantities, and at the right prices. A well-planned assortment can enhance customer satisfaction, encourage repeat purchases, and drive profitability.

The planning of merchandise assortment involves several key steps that collectively help in creating a strategic and customer-centric product offering. 

1. Analyzing Customer Needs: The first step _________ _____ _________ _____ ___ ______.
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