Retail Operations Chapter 5.1 - Retail Strategy

The combination of decisions retailers make to create and operate a store

• target market

• retail mix

• demographics

• psychographics

the specific group of people on whom a retailer focuses merchandising and service decisions

• retail mix

• demographics

• target market

• market segmentation

a description of the target-market customers

• target-market profile

• retail mix

• demographics

• market segmentation

a way of analyzing a market by specific characteristics in order to create a target market

• psychographics

• market segmentation

• demographics

• target market

Statistics that describe a population in terms of personal characteristics

• psychographics

• target market

• retail mix

• demographics

Studies of consumer lifestyles as reflected in attitudes, interests, and opinions

• psychographics

• retail mix

• demographics

• target market