LO1 -2) What three criteria should be met to target a markes successfully?
LO2 - 3) What types of retaiers whould be best suted for a neighborhood shopping center?
LO3 - 7) Why do geographical information systems include both physical and cultural geography? Give examples of physical and cultural data that may be included in geograohica information system.
LO4 - 10) What is the index of retail saturation? How is it used in making a location decision?
14) What are two important factors in the retail gravity theory?
The attached file contains the answers to the above mentioned questions in detail.
LO1 -2) What three criteria should be met to target a market successfully?
Three criteria that must be met to target a market successfully are:
1. Market should have a low level of retail saturation. This takes care of the competition involved in the area
2. Market should have a high Market Expansion Potential (MEP).
3. Proximity to distribution systems used by firm, labor market, government policy, local tax law etc.
LO2 - 3) What types of retailers would be best suited for a neighborhood shopping center?
Food superstore, Food supermarket, Jewelry, liquor/wine, Drug, Drug superstore, Restaurants, Beauty shops, Fast food joints, Laundry, Video Rental, Cards and gifts are the most common retailers that are best suited for a neighborhood shopping center.
LO3 - 7) Why do ...
Target Market, types of retailers, index of retail saturation and retail gravity theory are examined.