Define direct consumer marketing channels and indirect consumer marketing channels. List an example of each type and explain the difference between them.
The shift to online shopping has challenged many retailers who had only a brick-and-mortar location. One of the industries hit hardest by changes in consumer behavior is travel agencies because travelers can access much of the necessary pricing information themselves and then purchase tickets directly from the airlines. Name two additional store retailers that have virtually disappeared because of non-store retailing.
Markup is a term used by retailers to explain how much revenue comes from the difference between the cost of acquiring a product and the price it is sold for. Why do florists usually mark up their products 80% while grocers generally mark up their products 15%?
How does location matter for a wholesale business?
Is it ethically acceptable for a jewelry store to advertise $50 diamond-studded heart necklaces for Valentine’s Day and then tell customers who come to the store that the $50 necklace is out of stock but a $75 option is in stock?