Question: Apply the wheel of retailing theory to your local community
Apply the wheel of retailing theory to your local community. What changes seem likely? Will established retailers see the need for change, or will entirely new firms have to develop?
Answer to relevant QuestionsWhat advantages does a retail chain have over a retailer who operates with a single store? Does a small retailer have any advantages in competing against a chain? Explain your answer. Would promotion be successful in expanding the general demand for: (a) Almonds, (b) Air travel, (c) Golf clubs, (d) Walking shoes, (e) High-octane unleaded gasoline, (f) Single-serving, frozen gourmet dinners, (g) ...Discuss the communication process in relation to a producer’s promotion of an accessory product—say, a new electronic security system businesses use to limit access to areas where they store confidential records. Explain how a compensation plan could be developed to provide incentives for experienced salespeople and yet make some provision for trainees who have not yet learned the job. Think about a situation when you or a friend or family member encountered a problem with a purchase and tried to get help from a firm’s customer service representative. Briefly describe the problem, how the firm handled ...
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