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:

Marginal Social Cost

The total cost to society of producing an additional unit of a good, including both private costs and any externalities.

Marginal Social Benefit

The added value to the general population from the manufacture or use of one more unit of a good or service.

Marginal Social Benefit

The benefit gained by society from the production of one more unit of a good or service.

Marginal Social Cost

The total cost society bears for the production of an additional unit of a good or service, including both private costs and any externalities.