Question

A(n) ________ describes the nature of the retailer's operations that it will use to satisfy the needs of its target market.

1) situation analysis
2) organizational chart
3) competitor analysis
4) market research report
5) retail format

Answer 1

A retail format describes how a retailer plans to cater to its target market's needs through various aspects of its operations.

Step-by-step explanation:

The term that describes the nature of a retailer's operations used to satisfy the needs of its target market is a retail format. A retail format encompasses several elements including the type of merchandise and services offered, pricing policy, advertising and promotion strategies, store design and location, and customer service practices. Essentially, it outlines how a retailer differentiates itself from competitors and serves its customers.