To increase profitability a US Department store examined its pricing methods. The store sold apparel at marked price September - mid-November, followed by discount promotions until a post-Christmas clearance sale, when between 50% and 75% was knocked off the original price. The store installed inventory and transaction recording systems that enabled near-real-time tracking of sales by different lines of apparel in each store and launched demand-based pricing. When demand for a line increased the...
BPIR Categories4.1.1 Identify market segments & target customers
4.2.1 Manage sales & sell products & services
4.1.4 Develop & implement marketing strategy
6.4.2 Implement systems for managing the service