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ArticlesBeyond Product Planning: Micro Marketing and
Store Assortment Planning
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Data Warehousing to gather, store, and present relevant performance information that addresses customer preferences and characteristics. Data warehouse systems allow retailers to fine-tune assortments after evaluating customers’ acceptance of product offerings. |
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Data Mining to statistically uncover relevant customer trends and characteristics often “hidden” within the volume of information maintained. |
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Merchandise Planning systems to allow development of subclass level unit plans. These plans form the basis for store assortments. |
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Store Group/Store Clustering systems to group stores according to store and customer characteristics. Statistical approaches and data mining techniques help to determine the relevant characteristics for store groups. |
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Store Assortment Planning systems that help define key assortment characteristics based on the store groups. Store assortment planning ties together the store groups and store plans to develop a “matrix” of assortments for various customer characteristics. |
Giving customers what they want has never been more of a competitive advantage than it is today. Nor has it been more achievable.
This article was first published for Retek Inc.
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