Question

Henry recently set up a retail store in his hometown. He studied the pattern that other storeowners followed in obtaining new customers. All their current customers had referred the store to their friends and family. Their awareness basically spread through word-of-mouth. Henry knew that his store offered the same quality as the other stores did. His store was also on the same street as the other retail stores. Given the setting, the other storeowners were already charging their customers the bare minimum in order to remain competitive. Which P of marketing should Henry concentrate on to distinguish his retail store? Henry should concentrate on to distinguish his retail store.

Answer 1

The P of marketing Henry can concentrate on to distingish his retail store is Promotion

Step-by-step explanation:

There are majorly seven (7) P's in marketing which is called the marketing mix. The most importance P's in the marketing mix are the following four (4) P'sP-productP-priceP-placeP-promotion From the passage, the first P which represents product can not be used by Hanry because he is aware that his store offered the same quality as the other stores.The second P which is Price can not also be used as a marketing tool for Henry because he is aware that the other store owners were already charging their customers the bare minimum in order to remain competitive.The third P which stands for Place can not also be used by Henry because his store is on the same street as the other retail stores and he cannot improve on this.The fourth P which stands for Promotion is the only marketing tool that can be used by Henry to beat the competition. This is so because the form of awareness created by the other store owners is by word of mouth can not be sufficient to create wide awareness, word of mouth can only go within friends and family.Therefore the P of marketing Henry can utilize is the Promotion. He can do this by making worldwide awareness like advertisement on tv, radio, social media, printing handbills, Sales promotion e.g. raffle draw, festive sale, clearance sales, giving bonus to customers like buy 3 & get 1 free promo.