BUISENESS MANAGEMENT
MERCHANDISING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Itis important that they do not buy too much or too little.
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Theyneed to avoid buying an entire line in a “vacuum” without considering otherlines.
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Theyhave limited funds with which to buy and limited space in their store.
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Allof the above are true.
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Detailed explanation-1: -Having a marketing plan can help you to: identify your target market and how your product or service can benefit it. identify how you might attract new customers. encourage your existing customers to continue purchasing your product or service.
Detailed explanation-2: -When you create a sales strategy, it forces you to analyse existing tactics and address the needs of the customer at each stage of the sales funnel. Therefore, you’ll be able to look at the overarching objectives and see what is currently working, and what new strategies need to be taken to ensure success.
Detailed explanation-3: -The Most Important Piece of a Marketing Plan Is Your Targeted Customer. Knowing and anticipating the wants and needs of your customers shapes all the other elements of your plan.
Detailed explanation-4: -Marketing strategy helps in discovering the areas affected by organizational growth and thereby helps in creating an organizational plan to cater to the customer needs. It helps in fixing the right price for organization’s goods and services based on information collected by market research.