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Economics in Daily Life----Consumer Surplus and Sales Strategies
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... The more the CS that can be provided to consumers, the more they want to buy. ...
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... The marketing concept is… • A business approach that directs all marketing efforts towards satisfying customer’s needs and wants. • Understanding that everything a business does revolves around the customer. • The customer is # 1. • The customer is always right. ...
Retailers
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... receive large quantities of merchandise and sell them in smaller quantities. ethics A system or code of conduct based on universal moral duties and obligations that indicate how one should behave. holding inventory A major value-providing activity performed by retailers whereby products will be avai ...
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... markets, with another estimated 20 U-pick operations. The Delaware Direct Marketing Association (founded in 1983) currently has 45 member firms. The Mid-Atlantic Direct Marketing Conference and Trade Show held in Wilmington, Delaware in February, 1992 was attended by 425 marketers from 10 states and ...
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Retail



Retail is the process of selling consumer goods and/or services to customers through multiple channels of distribution to earn a profit. Demand is created through diverse target markets and promotional tactics, satisfying consumers' wants and needs through a lean supply chain. In the 2000s, an increasing amount of retailing is done online using electronic payment and delivery via a courier or postal mail.Retailing includes subordinated services, such as delivery. The term ""retailer"" is also applied where a service provider services the needs of a large number of individuals, such as for the public. Shops may be on residential streets, streets with few or no houses, or in a shopping mall. Shopping streets may be for pedestrians only. Sometimes a shopping street has a partial or full roof to protect customers from precipitation. Online retailing, a type of electronic commerce used for business-to-consumer (B2C) transactions and mail order, are forms of non-shop retailing.Shopping generally refers to the act of buying products. Sometimes this is done to obtain necessities such as food and clothing; sometimes it is done as a recreational activity. Recreational shopping often involves window shopping (just looking, not buying) and browsing and does not always result in a purchase.
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