Instruction:

Answer all the questions. 1. Explain three (3) factors that retailers should consider in determining the level of customer service to their customers. 2. Store design is the most responsible element for creating a distinctive and memorable store image. Explain any of the three (3) elements in store design. 3. Markdown is any reduction in the price of an item from its initially established price. For effective retail price management, markdowns should be planned. Unfortunately, retailers do not possess perfect information about supply and demand factors. As a result, the entire merchandising process is subject to error, which makes pricing difficult. Discuss any three (3) types of errors can a retailer make that will later cause them to take a markdown.