Retailing – Consumer PerceptionsRetailing has an impact on the daily lives of each individual all over the world. Retailing is ‘all the activities directly related to the sale of goods and services to the ultimate consumer for personal, nonbusiness use’ (Lamb et al., 2014, p. 231).To better understand the relationship between strategic retailing factors and consumer perceptions, you will conduct a simple observation exercise. Follow these steps to successfully execute this Discussion:Step 1.Download the Checklist attached below.Step 2.Make a product decision:Identify a product to shop for, and then identify two stores as places to look for your product. The two stores must be different types of retailers. For example, you can shop for a new HDTV at Best Buy® and at local electronics stores (specialty retailer). Once you have identified what you are looking for and where you are going to look, visit each store and record your observations of specific strategic retailing factors.Step 3.Make observations in your checklist:Visit two retail store locations and record your observations by taking notes on the following topics (NOTE: You do not need to include your observations in your answer post on the discussion board):Step 4.Answer the following questions in the Discussion area based on your observations noted in the Checklist:a.Identify the retailer from which you would decide to purchase the product. Discuss why you chose the specific retailer over the competitor.b.Discuss the factors that helped you make the decision to purchase the product from the retailer. What are the top three factors that are most important to you in this purchase decision?c.If your decision is not to purchase the item from either store, explain why not. Identify and discuss the three most significant differences you observed in comparing the two retail stores.ReferencesLamb, C. W., Hair, J. F., & McDaniel, C. (2014).MKTG7. Mason, OH: CengageAttachments: