2 Distinguish between variety and assortment Why are these important elements of the retail market structure?

1. on the basic level variety is just a collection of different products whereas assortment is a collection of variations of a single product. in assortment, the differentiation is in terms of brands, material, sizes e.t.c.

2. a) assortment

* influences the choice of store for a consumer to patronize

* helps cater for different price ranges

.* caters for the various tastes and preferences of customers

* increase profitability for the retailer

b) variety

* helps retailers tap into a wider market share

* increase profitability for the retailer

* aids in the presentation of the shop i.e. makes it look attractive

* competitive advantage