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Vending machines and convenience food stores are not affected by the wheel of retailing because their strategy for customer satisfaction is based on location and convenience, not pricing.

Macy’s is a retail store that focuses on fashion-oriented merchandise, backed by a complete array of customer services. It can be considered as a self-service store.

Step outs occur when a company refuses to participate in price escalation between competitors.

A full-service retailer usually sells convenience products that people can purchase without any assistance.

The goal of an ad is to improve the likelihood that a customer will buy a particular good or service.

Production of private-label goods helps manufacturers reach additional market segments.

One-price policies are more likely to be applied in marketing programs based on individual bargaining.

A low price is a sure sell because the demand for many goods is highly elastic.

Databases and interactive marketing are important IMC tools that help marketers collect information from customers and then segment markets according to demographics and preferences.

The level of competition for business in the market is an important criteria considered by retailers while selecting the target market.