List the four steps involved in developing a retail communication program.
What will be an ideal response?
The four steps involved in developing a retail communication program are
(1) Setting communication objectives that are specific and related to the retail communication mix's effect on the customer's decision-making process
(2) Determining a budget through a method, the best method being the marginal analysis method
(3) Allocating the budget, deciding how much of the budget should go into what communication element, merchandise category, geographic regions, etc.
(4) Implementing and evaluating (then planning again for the next period)
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