The Development of New Products That May Replace Sales of Existing

question 36

Multiple Choice

The development of new products that may replace sales of existing products is referred to as the threat of

• A) New entrants.
• B) Substitutes.
• C) Enhanced supply.
• D) Technology.
• E) Complements.

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Definitions:

Retailer Goals

Objectives set by retail businesses aiming for customer satisfaction, increased sales, and market presence.

Atmospherics

The use of design, music, lighting, and layout in retail spaces to influence consumers' mood and behavior, enhancing their shopping experience.

Experiential Retailing

A marketing strategy that focuses on creating unique, hands-on shopping experiences for customers to foster brand loyalty.

Enhanced Customer Convenience

Improving the ease and efficiency of a service or product for customers, often through technology or process improvements.