A characteristic of a retail strategy is its ________.
A) attention to personnel availability and training
B) attention to short-run success
C) systematic assessment of the environment to ascertain opportunities and threats
D) focus on past operations and success

Question

Quizplus · Accepted Answer

A retail strategy should involve a systematic assessment of the environment to identify opportunities and threats. This allows retailers to create and implement effective strategies that align with current market conditions. While personnel availability and training are important, they are not the defining characteristic of a retail strategy. Similarly, a retail strategy should focus on both short-run and long-run success, not just short-run success. Finally, while past operations and success can inform a retail strategy, it should not be the sole focus.

A Characteristic of a Retail Strategy Is Its ________