After Defining and Selecting a Target Market,retailers Must Develop the Six

question 30

Essay

After defining and selecting a target market,retailers must develop the six Ps of the retailing mix to successfully meet the needs of the chosen target market.What are the six Ps of the retailing mix?

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Definitions:

Square Feet

A unit of area measurement in the imperial system, equal to the area of a square with sides one foot in length.

Standard Error Of Estimate

A measure of the accuracy of predictions made with a regression model, specifically, it estimates the standard deviation of the error term.

Covariance

A measure that indicates the extent to which two variables change together. If the greater values of one variable mainly correspond with the greater values of the other variable, and the same holds for the lesser values, the covariance is positive; otherwise, it is negative.

Coefficient Of Correlation

A statistical measure that calculates the strength of the relationship between the relative movements of two variables.