BUSINESS ADMINISTRATION
RETAIL MARKETING
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Kiosks
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Vending Machines
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CRM
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Database
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Detailed explanation-1: -Market research can help you assess key trends to anticipate how the market may change. It is a vital step in identifying new market segments, developing new products and choosing your target market. Market research done well helps you plan your strategy.
Detailed explanation-2: -Multichannel Retailing is the process of using multiple channels for selling similar products across different platforms. The platforms may be online and offline and the various channels may be brick and mortar store, online store, mobile store, mobile app store, etc.
Detailed explanation-3: -The four Ps are: Product, Price, Place and Promotion.
Detailed explanation-4: -These include product, pricing, place, and promotion. The retail marketing mix adds two more “Ps” to the mix: people and presentation. These elements represent the value of sales associates and other staff in retail settings, as well as the importance of aesthetics and design in retail locations.