Retailers do not have to buy a large quantity of items they may not want. Only buy a specific amount so overall cost is reduced.

MARKETING MIX

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

A	True
B	False
C	Either A or B
D	None of the above

Explanation:

Detailed explanation-1: -Cost reduction is the process of decreasing a company’s expenses to maximize profits. It involves identifying and removing expenditures that do not provide added value to customers while also optimizing processes to improve efficiency. Cost reduction typically focuses on generating short-term savings.

Detailed explanation-2: -Pay Attention to Your Bills Costs. Go Paperless. Rent Your Retail Space. Open an Online Store. Optimize Shipping Costs and Packaging Costs. Negotiate With Suppliers. Improve Your Inventory Management. Reduce Operational Hours. 21-Sept-2022

Detailed explanation-3: -Renegotiate with Suppliers. Start your cost-cutting exercise by looking at the vendors you use. Buy in Larger Quantities. Improve Efficiency. Reduce Wastage. Outsource Tasks. Review Employee Productivity. Cut Energy Usage. Review Finance Arrangements. More items •10-Aug-2022

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ENTREPRENEURSHIP

ENTREPRENEURIAL MARKETING

MARKETING MIX