Author Question: _____ is the planning and control of the buying and selling of goods and services, to help the ... (Read 154 times)

wrbasek0 · **on:** Jun 29, 2018

_____ is the planning and control of the buying and selling of goods and services, to help the retailer realize its objectives.
a. Retailing
b. Retail reduction analysis
c. Merchandising
d. Forecasting
e. Store management

Question 2

Discuss and cite examples of what resources need to be reconfigured in order for a retailer to reframe its business.

ndhahbi · **Reply #1 on:** Jun 29, 2018

Answer to Question 1

C

Answer to Question 2

In order to reframe a retailers' business, changes need to be made specially around form, time, place and possession.

Form reconfiguration deals with the physical structure of the retail enterprise. This can be around any elements of the enterprise such as the fundamental design of the format of the store or a part of the store such as checkout counters, merchandise fixtures, layout or overall dimensions, or size of the store.

Time reconfiguration deals with the time it performs certain activities and offers service. Examples include: changes in banking hours and timing around sale events.

Place reconfiguration deals with the geographic location of a retailer. Smaller stores in non- traditional locations are examples of place reconfiguration.

Possession reconfiguration deals with where and how a customer takes physical possession of
the merchandise. Delivery and installation services fall under this category.