Describe the Differences Between Discount Stores and Off-Price Retailers

question 165

Essay

Describe the differences between discount stores and off-price retailers.

Know the incentives used by manufacturers to encourage the movement of products through the channel.

Comprehend the hierarchy of effects model and its stages in consumer behavior.

Understand the phases of the promotion decision process and the importance of identifying the target audience.

Understand the hierarchy of effects model in marketing communication.

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Definitions:

Implied Warranty

A legal presumption that a product will perform as expected, despite no express statement of such quality assurance being made.

Sales Contract

A legal agreement between two parties, where one agrees to buy and the other agrees to sell goods or services under specified terms and conditions.

Breach of Warranty

The failure to meet the terms of a promise or guarantee made about the quality, condition, or functionality of a product or service.

Accrues

The process of an asset or amount gradually increasing over time, typically through interest or benefits.