Understanding retailing Study guides, Revision notes & Summaries

All of the following were traditional sources of competitive advantage EXCEPT: a. labor costs. b. access to financial resources. c. protected markets. d. a highly educated labor market. - d Customer loyalty programs such as airline frequent flyer miles are an attempt to: a. decrease competitors' access to distribution channels. b. develop a cost advantage independent of scale. c. increase customers' switching costs. d. overcome the perishability of the hotel "product." - c. in...

MkTG 3340 Exam 2 Question and answers 2024 verified to passsecond dimension - correct answer Companies can't just keep a leadership position based on one aspect of customer values, they need to appeal to TWO customer values. Ex: Walmart- low price, frictionless retail proposition - correct answer Customers want to buy something they value from someone they trust superior competitive advantage - correct answer in order to win customers, retailers must offer products and experiences that ar...

CTD 461 Exam 1 Questions & Answers 2024-25 Textile Industry Complex - ANSWERSActivities and processes that generate textile products: suppliers of raw materials, processed materials, sewn product manufacturers, wholesalers, retailers, consumers and customers. Quality - ANSWERSA complex concept used to describe the degree to which a process, material, product, or service possesses desirable physical or intangible attributes. Textile Quality Assurance - ANSWERSProcess of designing, prod...

Retailing - Answer--encompasses the business activities involved in selling goods and services to consumers for their personal, family, or household use - Includes every sale to the final customer or how firms deliver products to end user Race to the Bottom - Answer-competing on price alone Customer Journey - Answer-looking for other ways to make consumers see value, focusing on experience of customer Paradox of Choice - Answer-as consumers, we are overwhelmed when we have too many options...

Meaning of Retailing : Retailing encompasses those business activities involved with the sale of goods and services to the final consumer for personal, family, or household use. Retailing is the final stage in a channel of distribution. Retailing functions are performed by any firm selling merchandise or providing services to the final consumer. According to Philip Kotler : “Retailing includes al the activities involved in selling goods or services to the final customers for person...

Retail - encompasses the business activities involved in selling goods & services to consumers for their personal, family, or household use -orhow firms deliver products to end users 1.) How can we best serve our customers while earning fair profit? 2.) How can we stand out in a competitive environment where consumers have many choices? 3.) How can we grow our business while retaining a core of loyal customers? 4.) Communicating with millennials. - Issues in Retailing Paradox of Choice - ...

MkTG 3340 Exam 2 2024. second dimension - correct answer Companies can't just keep a leadership position based on one aspect of customer values, they need to appeal to TWO customer values. Ex: Walmart- low price, frictionless retail proposition - correct answer Customers want to buy something they value from someone they trust superior competitive advantage - correct answer in order to win customers, retailers must offer products and experiences that are better than the competition Kh...

MAR3231 Exam 1 Hopkins FSU Questions And Answers 100% Verified Retail - answerencompasses the business activities involved in selling goods & services to consumers for their personal, family, or household use -or- how firms deliver products to end users 1.) How can we best serve our customers while earning fair profit? 2.) How can we stand out in a competitive environment where consumers have many choices? 3.) How can we grow our business while retaining a core of loyal customers? 4.) C...

MAR 3231 FSU Exam 1 Questions And Answers (Updated And Verified) Retailing - answerBusiness activities involved in selling goods and services to consumers for their personal, family, or household use. It includes every sale to the final consumer Retailing simply put - answerThe steps associated with getting products into the hands of consumers Current Issues in Retailing - answer- How can we best serve out customers while earning a fair profit? - How can we stand out in a highly comp. en...

MKTG 3340 Exam 2 Updated Test 2024. second dimension - correct answer Companies can't just keep a leadership position based on one aspect of customer values, they need to appeal to TWO customer values. Ex: Walmart- low price, frictionless retail proposition - correct answer Customers want to buy something they value from someone they trust superior competitive advantage - correct answer in order to win customers, retailers must offer products and experiences that are better than the comp...