An approach to the study of retailing which focuses on a retailer's need to revise plans continually in order to adapt to a changing environment is the retailing concept.

Question

Quizplus · Accepted Answer

The approach described is known as the "adaptive retailing" or "strategic retail management," not the "retailing concept." The retailing concept focuses on customer orientation, coordinated effort, value-driven, and goal orientation.

An Approach to the Study of Retailing Which Focuses on a Retailer's