Retail Marketing Mix vs. Traditional Marketing Mix

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

Choose from the following and determine the retail marketing mix.

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1. Analyze the picture and determine what kind of brand it is.

2. Which one of these stores offers an EDLP price strategy?

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About This Quiz & Worksheet

This quiz and worksheet combo will help you quickly assess your understanding of two common marketing strategies. You will also be able to review how a producer determines the most effective marketing mix for their products.

Quiz & Worksheet Goals

In these assessments you'll be tested on the following:

  • Components of the retail marketing mix
  • Brand identification based on a provided image
  • EDLP price strategy
  • Presentation of the store

Skills Practiced

  • Knowledge application - use your knowledge to identify the components of a retail marketing mix
  • Making connections - use understanding of market strategy to recognize why each element of the marketing mix is necessary
  • Reading comprehension - ensure that you draw the most important information from the related business lesson

Additional Learning

To learn more about how producers utilize different marketing strategies, review the accompanying lesson titled Retail Marketing Mix vs. Traditional Marketing Mix. This lesson covers the following objectives:

  • Differentiate between traditional and retail marketing strategies
  • Define each component of the retail marketing mix
  • Understand when each marketing strategy would be utilized
  • Recognize why every component of a marketing mix is important
  • Know how various factors, such as a company's target market, will affect their marketing mix decisions
  • Apply the concept of a retail marketing mix to a real producer's marketing strategy
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