What is necessary for developing a Merchandise Assortment Plan (MAP)?

The correct approach to developing a Merchandise Assortment Plan (MAP) involves researching prior year's sales and market trends. This step is essential as it allows the decision-makers to understand customer preferences, buying behaviors, and the effectiveness of previously stocked items. Analyzing historical sales data provides insights into what products sold well or poorly and highlights trends that can guide future purchasing decisions. Additionally, understanding current market trends helps ensure that the merchandise assortment aligns with consumer demand and expectations, which is crucial for maximizing sales and profitability.

The value of this data-driven approach stems from its ability to inform strategic decisions about product selection, quantity, and timing, ensuring the assortment meets the needs of the target market while optimizing inventory levels.

The other methods for developing a MAP, such as reviewing past employee performance, selecting random products, or focusing solely on high-margin items, do not provide a comprehensive or effective strategy for creating a successful merchandise assortment. These approaches lack the necessary market context and empirical support that informed data analysis offers.