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WJEC LEVEL 1 / 2 AWARD AND CERTIFICATE IN RETAIL BUSINESS
UNIT 2: Retail Business Check List
| |
|Forms of retail business | |
|Forms of ownership | |
|Aims and Objectives | |
|UK business environment | |
|Locations | |
Methods | | | | | | | | |Marketing initiatives
• Market research
• USP
• Branding
• Pricing Strategies | | | | | | | | |Advertising
• Digital advertising
• Social media
• Blogs
• Mobile advertising
• Point-of-sale advertising | | | | | | | | |Sales promotion
• BOGOF
• Discounts
• Better value
• Customer loyalty cards
• Competitions
• Free gifts
• Product trials | | | | | | | | |Direct marketing | | | | | | | | |Diversification | | | | | | | | |Staff training | | | | | | | | |Using stakeholder support, e.g. lobbying | | | | | | | | |New retail channels | | | | | | | | |Improvements to store /shops | | | | | | | | |Percentage change | |Formula | | | | | | |
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