Retailers can be categorized based on which of the following criteria?

Retailers can be categorized based on various criteria, including pricing strategy, product assortment, and market segmentation. Each of these criteria provides a different lens through which to analyze and understand the retail landscape.

Pricing strategy allows retailers to position themselves in the marketplace based on the prices they set for their products or services. This can include discount retailers, premium retailers, and everything in between.

Product assortment refers to the variety of products that a retailer offers. This can range from specialty stores with a narrow focus on specific types of products to mass merchandise retailers that carry a wide variety of items across different categories.

Market segmentation involves categorizing retailers based on the specific demographics or needs of the consumers they serve. For instance, some retailers may target specific age groups, lifestyles, or income levels.

By considering all of these criteria together, we gain a comprehensive understanding of how retailers operate and differentiate themselves in a competitive market. This multidimensional approach to categorization is essential for effective marketing and strategic planning in the retail sector.