How can retailers reduce the knowledge gap?
What will be an ideal response?
Retailers can reduce the knowledge gap and develop a better understanding of customer expectations by undertaking customer research, increasing interactions between retail managers and customers, and improving communication between managers and the employees who provide customer service. They can use social media, blogs, surveys, panels, contests, customer complaints, and feedback from store employees to understand what the customers want, need, and expect.
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The ________ was established by the Direct Marketing Association
A) Privacy Promise to American Consumers B) Trusted Email Open Standard C) Children's Online Privacy Protection Act D) CAN-SPAM legislation E) Do Not Call Registry
Because firms are introducing products at a faster rate, one general trend in marketing is that product life cycles are getting ________.
Fill in the blank(s) with the appropriate word(s).
Single Tone, a local music and video store, consistently offers music CDs and movie DVDs at lower prices than its competitors. The pricing strategy that Single Tone uses is high/low pricing.
Answer the following statement true (T) or false (F)
Which of the following is a principle that governs the world trade organization's work?
A) giving preference to trading partners who provide maximum business B) protecting domestic industries by offering financial assistance C) making trade policies more predictable and less arbitrary D) establishing dumping procedures to prevent pollution in developed countries E) implementing protectionist ideologies to establish fair trade between nations