Question

Competitive retailers can sell the same popular-national brands. Which of the following should retailers do to secure a competitive advantage?

1) Prevent its customers from comparison shopping.
2) Limit its store traffic to qualified buyers.
3) Increase its sales expenses.
4) Increase its merchandising flexibility.
5) Develop private-label brands.

Answer 1

To secure a competitive advantage, retailers should prevent comparison shopping, develop private-label brands, and increase their merchandising flexibility.

Step-by-step explanation:

In order to secure a competitive advantage, retailers should do several things:

1. Prevent its customers from comparison shopping: This can be achieved by offering unique products or services that are not easily comparable to those of competitors.
2. Develop private-label brands: Creating their own brands allows retailers to differentiate themselves from competitors and offer exclusive products that cannot be found elsewhere.
3. Increase its merchandising flexibility: Being able to quickly adapt to changing consumer preferences and market trends can give retailers an edge over their rivals.

By implementing these strategies, retailers can differentiate themselves in the market, attract customers, and maintain a competitive advantage.