A medium sized retail outlet is planning to develop a retail strategy. The management ot the company would like to analyse its retail strategy mix for store based operations by considering the conven ient, conventional and food-based stores. Also, the management would like to understand the Wheel of Retail, Scrambled Merchandizing and Retail Life Cycle approaches for redesigning their retail operations.

question: What factors do you think should be included in the 'Retail Strategy Mix for retail institutions 5. like i) Convenience, ii) Conventional and iii) Food-based Stores.