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Woodbridge College *

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Management

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Nov 24, 2024

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At the managerial level within a retail business, a District Manager might need to decide on the pricing strategy for specific product categories within their region. For instance, they might need to determine whether to offer discounts or promotions on certain products to drive sales and compete effectively with local competitors. To make this decision, the District Manager would rely on information from the retail store's sales data, inventory levels, and competitive analysis. The IT systems in place, such as the Point of Sale (POS) system and inventory management software, would provide insights into which products are selling well and which ones have excess inventory. Additionally, competitive pricing data obtained through market research would help the District Manager set prices that are attractive to customers while maintaining profitability. Research suggests that dynamic pricing strategies based on real- time data and competitive analysis can lead to increased sales and improved competitiveness. Dublino (2023). By using IT systems to monitor sales trends and inventory levels, the District Manager can adjust pricing to match demand and optimize profitability. This example underscores the significance of IT systems in aiding managerial decisions that directly impact the retail business's bottom line. References Jennifer Dublino (2023) . What is dynamic pricing? (n.d.). business.com. https://www.business.com/articles/what-is-dynamic- pricing-and-how-does-it-affect-ecommerce/

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