A strategy is a carefully designed plan for achieving the retailer's goals and objectives.

Question

Quizplus · Accepted Answer

A strategy is indeed a carefully designed plan that helps retailers achieve their goals and objectives. It involves analyzing the internal and external environment, identifying strengths and weaknesses, choosing target markets, determining the competitive advantage, and devising plans to achieve a sustainable competitive advantage. A good retail strategy also considers factors such as consumer behavior, market trends, technological advancements, and regulatory frameworks, among others, to ensure long-term success.

A Strategy Is a Carefully Designed Plan for Achieving the Retailer's