The Element of the Marketing Mix Used by the Retailer

question 11

Multiple Choice

The element of the marketing mix used by the retailer to create a retail strategy is:

• A)product.
• B)price.
• C)process.
• D)people.
• E)place.

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Definitions:

Nominal Variables

Variables that represent categories with no intrinsic ordering or hierarchy, such as gender, nationality, or brand.

Null Hypothesis

In statistics, a statement suggesting that there is no significant effect or difference, and any observed deviation is due to random chance.

Chi-Squared Test

A statistical test used to determine if a significant relationship exists between two categorical variables by comparing observed and expected frequencies.

Contingency Table

A table used in statistics to summarize the distribution of two categorical variables, showing the frequency at which certain combinations of the variables occur.