Final answer:
After evaluating strategic opportunities in the strategic retail planning process, establishing specific objectives is typically the next step. This involves setting clear, measurable goals which precede the development of a retail mix.
Step-by-step explanation:
The student's question relates to the steps following the evaluation of strategic opportunities in the strategic retail planning process. Once strategic opportunities have been evaluated, the typical next step is to establish specific objectives. This step involves setting measurable goals that the retail business aims to achieve, which guide the subsequent development of a tailored retail mix.
In the broader context of the strategic planning process, defining the business mission generally comes earlier, as it lays the foundation for identifying opportunities. Following the establishment of objectives, one would typically begin to develop the retail mix, which refers to the various components necessary to meet the objectives, including product assortment, pricing, promotions, and place. Evaluating performance and conducting further SWOT analysis would come later in the process to assess whether objectives have been met and to make adjustments as necessary.