Which of the Following Is Not an Element in the Retail

question 6

Multiple Choice

Which of the following is not an element in the retail mix?

• A) Competitive response
• B) Merchandise assortments
• C) Location
• D) Customer service
• E) Advertising and promotion

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Definitions:

Equity

Equity refers to fairness or justice in the way people are treated. In financial contexts, it also represents the ownership interest of shareholders in a corporation.

Equity Theory

A theory in social psychology that explains how individuals gauge the fairness of their work outcomes and inputs relative to others.

Expectancy Theory

A motivational theory suggesting that individuals are motivated to perform if they believe their efforts will lead to desired performance and rewards.

Retributive Justice Theory

A theory of justice that holds that the best response to a crime is a punishment proportional to the offense, inflicted because the offender deserves the punishment.