As the Old Cliché Claims, the Three Most Important Things

question 141

Multiple Choice

As the old cliché claims, the three most important things in retailing are

• A) size, location, and convenience.
• B) price, promotion, and place.
• C) location, location, and location.
• D) price, price, price.
• E) before, during, and after the sale.

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Definitions:

Extrinsic Benefits

Extrinsic benefits are rewards or advantages that come from external sources and are not inherent to the task itself, such as salary, bonuses, or public recognition.

Audience Benefits

Advantages or positive outcomes that the audience can gain from a product, service, or message.

Four-drive Theory

A motivational theory proposing that humans are driven by four basic needs: acquiring, bonding, learning, and defending.

Drive Balance

Refers to the equilibrium state or effort to balance different drives or motivations within an individual or organization, affecting decision-making and behavior.