The First Step in Developing a Retail Strategy Is

question 33

Multiple Choice

The first step in developing a retail strategy is

• A)To define a target market
• B)To determine the retail positioning
• C)Set sales goals
• D)Determining the overall pricing approach

---

Definitions:

Statistical Inference

The process of using data from a sample to make generalizations or predictions about a larger population.

Arithmetic Mean

The sum of a set of numerical values divided by the number of values, commonly referred to as the average.

Midrange

The arithmetic mean of the maximum and minimum values in a data set, serving as a measure of central tendency.

Mode

The value that appears most frequently in a data set, representing the highest peak in a distribution.