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Service is the fundamental basis of exchange; therefore it is also the basis of all
competition.
The "graying of America" phenomenon refers to the fact that consumers' ethnicities are
becoming blurred as immigration to the United States continues to increase.
The optimal merchandise mix will be the same for every store.
Failure to let the vendor assist the buyer by adding new items or new colors to the mix
is a common buying error.
Explain the characteristics of the three era's of retailing.
Consider the retailer's role as a member of a larger supply chain. Why should the
retailer view itself as part of this larger channel?
The first decision store planners must consider is how to efficiently allocate the store's
space.
