What Does the Convenience Product Marketing Strategy Include

question 123

Multiple Choice

What does the convenience product marketing strategy include?

• A)wide distribution of the product
• B)higher than ordinary prices
• C)few retail outlets other than convenience stores
• D)significantly lower promotion budgets

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Definitions:

JIT Suppliers

Suppliers that adhere to Just-In-Time manufacturing principles, delivering materials and components exactly when needed, minimizing inventory costs.

Holding Cost

The cost associated with keeping inventory in storage, including expenses such as warehousing, insurance, and spoilage.

Product Storage

The act of keeping goods or materials in a designated space until they are needed for usage or sale.

Waste

Unwanted or unusable materials, substances, or by-products produced through human activity or industrial processes.