Retailers cannot make consistent decisions about product assortment and pricing until they define and profile their markets.

Question

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In order to make informed decisions about product assortment and pricing, retailers must first define and profile their markets. This allows them to understand the specific needs and preferences of their customers, and adjust their strategy accordingly. Without this foundational step, retailers may struggle to make consistent, effective decisions that align with their market and customer base.

Retailers Cannot Make Consistent Decisions About Product Assortment and Pricing