Discuss the impact of retailing on the U.S. and global economy
What will be an ideal response?
Retailers represent almost 10% of the total businesses in the U.S., and they employ over 10% of the country's workforce. Retail activities generated $4.4 trillion in 2008, which represents 6% of the U.S. gross national product. Many U.S.-based retailers are also important to the global economy, with five of the world's largest retailers based in the U.S.
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During the off-season, Parrish Farms, a bed-and-breakfast inn, offers a 25 percent reduction on its weekend rates to entice customers to make last-minute reservations at its website. This is an example of pricing strategy used as which of the following?
a. a direct sales tool b. a promotion strategy c. a product strategy d. an Internet enhancer
Emergent strategies generally:
A) evolve and change as needs arise. B) involve only portions of an organization. C) encourage strong leadership within a firm. D) are less beneficial to a small company.