How do mangers for large retail chains determine pricing and markdown strategies?
How do mangers for large retail chains determine pricing and markdown strategies?
In the retailer simulation exercise, the student plays the role of upper management at a large chain of retail stores and is asked to analyze data and make an informed decision about markdown policy. The simulation focuses on two important aspects of the pricing decision: timing and magnitude of price reductions. As background for the simulation, students are provided with an overview of the fashion retail industry, a description of the production and distribution process, and a discussion of the technology and issues involved in pricing and markdowns.
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