Dmitri recently opened a sporting goods store.There are several other sporting goods stores in his town,all of which have been open for several years.These rival businesses offer reasonably priced goods as well as such "extras" as appointments with equipment consultants,in-house equipment personalization,and special ordering of items not included in the regular store inventory.Dmitri knows that he needs to make his new business stand out if it is going to compete successfully with the established businesses. According to the wheel of retailing,what strategy would help Dmitri gain a foothold for his business in the local sporting goods market?

Question

Dmitri recently opened a sporting goods store.There are several other sporting goods stores in his town,all of which have been open for several years.These rival businesses offer reasonably priced goods as well as such "extras" as appointments with equipment consultants,in-house equipment personalization,and special ordering of items not included in the regular store inventory.Dmitri knows that he needs to make his new business stand out if it is going to compete successfully with the established businesses. According to the wheel of retailing,what strategy would help Dmitri gain a foothold for his business in the local sporting goods market?​

Quizplus · Accepted Answer

The wheel of retailing suggests that new retailers can gain market entry by offering lower prices and fewer services, which allows them to attract price-sensitive customers and gradually expand their offerings as they establish themselves.

Dmitri Recently Opened a Sporting Goods Store