Question

What do you mean by retailing discuss the strategic planning?

Answer 1

Answer:

A retail strategy is the overall plan that guides a firm. It consists of situation analysis, objectives, identification of a customer market, broad strategy, specific activities, control, and feedback. Without a well-conceived strategy, a retailer may be unable to cope with environmental factors.

Answer 2

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Strategic planning is a formal process firms (should) undergo to develop a plan for how best to compete, given the business environment, the firm's own capabilities relative to the needs of the customer and the anticipated actions/reactions of competitors.