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The planning process in retail management is a systematic approach that enables organizations to achieve their objectives efficiently while responding to the dynamic market environment. It serves as a roadmap for retailers to coordinate resources, set priorities, and align operations with strategic goals. The process begins with the identification of objectives, which are derived from the broader business vision and mission. These objectives in retail can range from increasing market share, enhancing customer satisfaction, improving sales, optimizing inventory management, to introducing new product lines. Clearly defined objectives provide a foundation for decision-making and help measure progress over time. Once objectives are established, the next step is environmental scanning and analysis. This involves examining both internal and ________ ____ _________ _____ _________ ____ _________.
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