Question

What do you understand by Retail Marketing Mix ? Discuss the role of pricing in retail marketing mix.

Answer 1

A well thought out and planned retail mix provides the retailer with a focused position and helps differentiate them from the competition. A retail mix, defined, is the marketing plan put in place to address key factors such as location, price, personnel, services, and goods.

Answer 2

Marketing Mix is a set of marketing tool or tactics, used to promote a product or services in the market and sell it. ... The product will then be sold, according to marketing and promotional strategy. The components of the marketing mix consist of 4Ps Product, Price, Place, and Promotion.