The first step in developing a competitive retailing strategy is to
A)decide on general product categories.
B)decide on the best location.
C)identify a target market.
D)identify the necessary level of customer service.

Question

Quizplus · Accepted Answer

Identifying a target market is crucial as it helps in understanding the specific needs, preferences, and behaviors of potential customers, which in turn informs all other strategic decisions such as product selection, location, and level of customer service.

The First Step in Developing a Competitive Retailing Strategy Is