The retailer's first step in developing a cost-effective way for a retailer to reach its customer with either a traditional store or virtual store is:
A) establish its budget.
B) identify its strengths and weaknesses.
C) identify its target market.
D) develop a list of constraining factors.
E) hire a real-estate consultant.

Question

Quizplus · Accepted Answer

Identifying the target market is the first step in developing a cost-effective way for a retailer to reach its customer with either a traditional store or virtual store. This allows the retailer to tailor its strategy to the specific needs and preferences of its customer base, thereby increasing the effectiveness of its efforts.

The Retailer's First Step in Developing a Cost-Effective Way for a Retailer