Question

Why do you think a businesses use 70/20/10 plans and planograms. Why do you think merchandising strategies differ between retailers? (Please be descriptive)

Answer 1

Using 70/20/10 approach is a definitely a reason to secure the marketing environment of specific organisation. This approach provides extensive security to the overall availability of opportunities for an organisation to influence the market relying on the shelf standard content that appears to the huge audience. This is standard content in that company could not face any critical loss at the condition of marketing failure. By only incorporating 20% and 10% of the risky approaches, and Organisation create a safe environment of work which directly enables them to maintain better standard in Operation as well as to provide adequate level of service in its operating conditions. All of these approaches are very essential to understand basic idea behind reducing the risk of implementing new Tools and techniques that could create a huge impact if negative applied or failed to adopt the new culture or any specific culture in which the organisation is operating.
Merchandising strategies definitely differentiate between retailers. Add money Taylor can do business in cost differentiation region where other merchandiser can do business in cost leadership. Due to the nature of the product offered by the specific organisation the specific merchant strategies usually differ. All of these approaches are essential to understand as difference in these strategies create a huge difference in the overall outcome of the system which determine the best available possibility for increasing the adaptability in the respective environment as well as providing adequate level of support to its business operations. This difference also happens because of the size of the organisation. Bigger organisations have bigger propensity to integrate and to launch their product and services where smaller organisations I have limited availability of funds where it affect their capability of launching the products as well as selecting the merchandising strategy accordingly.