The process of dividing the total market into smaller, more heterogeneous segments is called market segmentation.
Indicate whether the statement is true or false
Question 2The only way U.S. retailers can be sure that they are not buying illegal merchandise is to inspect every manufacturing plant of all its suppliers, down to the smallest subcontractors; therefore, most American retailers have undertaken such programs, even though these programs are very expensive.
Indicate whether the statement is true or false
Question 3Because odd prices are associated with low prices, they are typically used by retailers who sell at prices below the market or at the market.
Indicate whether the statement is true or false
Question 4The type of music may have an effect not only how long the customers stay in a store, but also on how much merchandise they purchase.
Indicate whether the statement is true or false
Question 5Common services provided by retailers, such as alterations, free delivery, bridal registries, check cashing, credit, short check-out lines, and gift wrapping, are not actually the merchandise or service offered for sale.
Indicate whether the statement is true or false
Question 6In today's environment, even so-called reasonable people may disagree as to what is right and wrong behavior in certain retail situations.
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Question 7The practice of setting retail prices that end in the digits 5, 8 or 9 is called odd pricing.
Indicate whether the statement is true or false
Question 8Today retailers are beginning to engineer smells and sounds in their stores as a means of increasing sales.
Indicate whether the statement is true or false
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