Factors to be considered before setting up retail shop. - SS1 Commerce Past Questions and Answers - page 1
1
What is an important factor to consider when choosing a location for a retail shop?
View related lesson
A
Proximity to competitors
B
Accessibility to the target market
C
Limited parking facilities
2
What should be considered when determining the product selection for a retail shop?
View related lesson
A
Personal preferences of the shop owner
B
Least popular products in the market
C
Market demand and customer preferences
3
What is an essential aspect of store layout and visual merchandising?
View related lesson
A
Complicated and confusing navigation
B
Dim lighting and cluttered displays
C
Product visibility and easy navigation
4
What should be considered when determining the pricing strategy for a retail shop?
View related lesson
A
Arbitrary pricing without considering production costs
B
Ignoring competition and setting high prices
C
Striking a balance between affordability and profitability
5
Why is it important to conduct thorough financial planning before setting up a retail shop?
View related lesson
A
To underestimate the initial investment costs
B
To ignore ongoing expenses and cash flow projections
C
To assess the financial viability and sustainability
6
What is the role of market research in setting up a retail shop?
View related lesson
7
Why is store location an important factor in retail shop setup?
View related lesson
Loading lesson…