According to a survey, these days the young children have more power in purchasing decisions than ever before. The parents seek their kids’ opinions about all kinds of once-adult decisions, including where to go for dinner, what kind of car to buy, even what to wear,”. Therefore, the retailers are adapting to this by enhancing their kids’ sections. If the children want to shop in the store for their clothes, then there’s a greater chance the parent will also see something they want to buy as well. Identify the type of plan being described in the above lines.

Strategy

The correct answer is option 3 i.e. strategy.

The description in the passage reflects a strategy. The strategy involves adapting to the influence that young children have on purchasing decisions by enhancing kids' sections in stores. This strategic move aims to attract children to shop for their clothes in the store, with the expectation that it will also influence the parents to make additional purchases.

A strategy provides the broad contours of an organisation’s business. It will also refer to future decisions defining the organisations direction and scope in the long run. Thus, we can say a strategy is a comprehensive plan for accomplishing an organisation objectives. This comprehensive plan will include three dimensions-
(i) determining long term objectives,
(ii) adopting a particular course of action, and
(iii) allocating resources necessary to achieve the objective.