The first stage in development of a retail strategy should be to ________.
A) develop an overall long-run plan
B) decide on the appropriate target market
C) determine the type of business and specific orientation of the firm
D) implement an integrated strategy

Question

Quizplus · Accepted Answer

Before creating a retail strategy, it is important to determine the type of business and specific orientation of the firm. This will help in identifying the goals and objectives of the company, which will further help in developing an overall long-run plan and deciding on the appropriate target market. Once these aspects are clarified, an integrated strategy can be implemented. Therefore, option C is the first stage in development of a retail strategy.

The First Stage in Development of a Retail Strategy Should