Why would Save-A-Lot grocery store choose to be located in the same strip mall as Dollar General and Walmart?
What will be an ideal response?
Save-A-Lot targets price-sensitive consumers as does Dollar General and Walmart. Although these stores share the same target market, they offer different non-competing merchandise. Also based on the principle of the cumulative attraction, a cluster of similar and complementary retailing provides drawing power.
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Experimental design is the set of experimental procedures specifying the test units and sampling procedures and all of the following EXCEPT:
A) specifying the independent variables. B) specifying the dependent variables. C) specifying the plan for data analysis. D) specifying how to control the extraneous variables.
A retailer appealing to two distinct demographic groups is utilizing a _____ marketing strategy
a. differentiated b. mass c. concentrated d. focused
Which of the following formulae can be used in Excel to generate normally distributed random numbers for a given mean and standard distribution?
A. norminv() B. normdist(rand(), mean, standard deviation) C. norminv(rand(), mean, standard deviation) D. normdist()
What are simulation models and how are they used to assist with determination of facility locations?