Blog

An IMC strategy separates the promotional mix into parts and views them as isolated components.

Cumulative quantity discounts are one-time reductions in list prices.

Skimming is an effective strategy to use when products are distinctive or have little competition.

A retailer’s customer service strategy can support the efforts of the retailer in building demand for a line of merchandise.

A nonpurchase is an example of a receiver’s feedback.

Tiffany, Rolex, Gucci, and Prada represent exclusivity, meaning their prices are mostly inelastic.

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.