THE FOCUS AND FORMAT OF THE TEXT
There are various approaches to the study of retailing: an institutional approach,
which describes the types of retailers and their development; a functional approach,
which concentrates on the activities that retailers perform (such as buying, pricing,
and personnel practices); and a strategic approach, which centers on defining the
retail business, setting objectives, appealing to an appropriate customer market,
developing an overall plan, implementing an integrated strategy, and regularly
reviewing operations.