Once a retailer understands its environment,it needs to develop and implement a:
A)viable customer base.
B)advertising plan.
C)retail strategy.
D)competitive strategy.
E)functional strategy.

Question

Quizplus · Accepted Answer

Once a retailer understands its environment, it needs to develop and implement a retail strategy that outlines how it will meet its objectives and gain a competitive advantage in the market. This includes choosing the right store location, designing store layout, setting prices, deciding on merchandise assortment, and determining customer service policies. The other options, such as viable customer base, advertising plan, competitive strategy, and functional strategy, are important elements of a retail strategy, but they are not comprehensive enough to address all the components of a retail strategy.

Once a Retailer Understands Its Environment,it Needs to Develop and Implement