Lydia owns the Shake Shack,a small ice cream shop on a busy beach boardwalk that specializes in a variety of milkshakes,malts and cones.She has identified her customer as a person walking on the boardwalk-mostly vacationers who want something cool and quick with no frills.She located herself close to parking for easy access,unlike some of her competitors.Lydia seems to have developed a strong:
A) business concept
B) business plan
C) location strategy
D) retail strategy
E) selling strategy

Question

Quizplus · Accepted Answer

A retail strategy identifies the target market, the merchandise or service the retailer offers to satisfy the needs of the market and how the retailer will build a long-term competitive advantage over its competitors.

Lydia Owns the Shake Shack,a Small Ice Cream Shop on a Busy