What Can a Retailer Do to Ensure Consistency Between Their

question 4

Multiple Choice

What can a retailer do to ensure consistency between their market strategy and their price position?

• A) They can purchase more of the merchandise to relay the lower prices onto the consumer
• B) They can price for margins and create a better shopping experience
• C) They can consistently offer lower prices and allow the consumer to determine market share
• D) They can collect and analyze price data from their competitors to determine if the store is maintaining their desired market position compared to their competition
• E) None of these

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Definitions:

Shared Values

The fundamental beliefs and principles that guide the behavior of individuals within an organization or community.

Observable Culture

The aspects of an organization's culture that can be seen or noticed through behaviors, rituals, and symbols.

Implicit Culture

The unspoken, assumed values and norms that influence behavior and expectations within a group or organization, not formally documented.

Duty of Cooperation

An obligation that requires the parties in a contract to act in good faith and assist each other in fulfilling the contract terms.