Which opportunity involves a new retail format directed to the market segment that is not presently being served?

Which opportunity involves a new retail format directed to the market segment that is not presently being served?

Diversification: ADVERTISEMENTS: In short, a diversification opportunity is when a retailer introduces a new retail format directed toward a market segment that is so far not served. Diversification may take form of related or unrelated diversification.

What is retail format development?

Retail Format Development  A retail format development growth opportunity is an opportunity in which a retailer develops a new retail format-a format with a different retail mix- for the same target market. Vertical Integration  Is diversification by retailers into wholesaling or manufacturing.

Is described as diversification by retailers into wholesaling or manufacturing?

Stern: Chapter 5 (Unfinished)

Question Answer
Vertical Integration Describes diversification be retailers into wholesaling or manufacturing.
Unorganized Retailing Includes the small independent retailers. (owner operated general stores, convenience stores, handcarts, etc.)

What are retail strategies?

A retail strategy is the process you use to develop your products or services and sell them to customers. There are multiple elements to this plan, including location, store, merchandise/assortment, visual merchandising, staff, service, mass media and communications, and price.

What is multi format retail strategy?

Multi-format retailing benefits companies by providing new room for growth and helping them enter into more refined markets with strong development potentials. In addition, many companies have resorted to differentiation as their competition strategy because of the futility of pricing tactics.

What is an advantage of selling private label brands for a national retailer?

Private-label brands yield higher profits to retailers. What is an advantage of selling private-label brands for a national retailer? Customers can’t compare prices for private-label products because of their exclusivity.

Which of the following can restrict the size and style of retail signs?

Sign sizes and styles may be restricted by building codes, zoning ordinances, or even the shopping center management group.

What does Omni Channel mean in retail?

Omni-channel retail (or omnichannel commerce) is a multichannel approach to sales that focus on providing seamless customer experience whether the client is shopping online from a mobile device, a laptop or in a brick-and-mortar store.