A retailer systematically reviews its planning process,as well as how it implements its plans.This review process is called ________.
A) scenario analysis
B) the sales opportunity grid
C) benchmarking
D) the retail audit

Question

Quizplus · Accepted Answer

The process described in the question is a review of the retailer's planning process and implementation of the plans, which is a characteristic of a retail audit. Therefore, the best choice is D, the retail audit. Option A, scenario analysis, involves imagining potential future outcomes and their impact on the business. Option B, the sales opportunity grid, is a tool used to identify opportunities for growth in a retailer's market. Option C, benchmarking, involves comparing the retailer's performance with those of its competitors or other companies in the same industry. None of these options directly relate to the review process described in the question.

A Retailer Systematically Reviews Its Planning Process,as Well as How