What is the first step in developing a retail strategy?
A)define the target market
B)set up a sales team
C)build a franchise network
D)decide on the product offerings

Question

Quizplus · Accepted Answer

Defining the target market is the first step in developing a retail strategy. This involves determining the specific group of consumers that the retailer aims to serve and understanding their needs and preferences. Once the target market is identified, the retailer can then develop a strategy that addresses their unique requirements and aligns with their expectations.

What Is the First Step in Developing a Retail Strategy