Manag., December-2019 – Q27
- Option : D
- Explanation : Strategic Issues in Retailing: To enter
retailing is easy and still easier to fail. To
survive and be successful in retailing needs
catering to customers. Their costs and profits
depend on their type of operation, product
lines, and level of service. Personal consumers
make purchases for a variety of reasons.
Sometimes the reasons seem to be obvious,
and at times seem to be non-rational, vague
and maybe just social or psychological in
nature, such as to escape boredom, to
socialize, to kill time, or to learn if there is
anything interesting or new. Retailers
particularly consider target market and retail
store location; merchandise variety and
assortment; store image and atmospherics;
services, price level, and promotion.
Strategic Decisions in Retail: Having understood the difference between retail and “wholesale”, let us now focus on the strategic issues which a retailing firm has to necessarily respond to. These include:
(a) Location Decision
(b) Target Market Selection
(c) Business Model
(d) Merchandise Mix
(e) Positioning the Retail store.
