Podcast
Questions and Answers
What is the primary reason why location is important for a retailer?
What is the primary reason why location is important for a retailer?
- To increase employee morale
- To reduce inventory costs
- To develop a marketing strategy
- To create a sustainable competitive advantage (correct)
What type of location does not have centralized management?
What type of location does not have centralized management?
- Planned locations
- Shopping centers
- Urban sites
- Freestanding sites (correct)
What is a key benefit of planned locations?
What is a key benefit of planned locations?
- Enforced policies for store operations (correct)
- Lower rent costs
- No centralized management
- More flexibility with store operations
What is a major disadvantage of freestanding retail locations?
What is a major disadvantage of freestanding retail locations?
What is a factor that retailers consider when evaluating a location type?
What is a factor that retailers consider when evaluating a location type?
What is a characteristic of urban retail locations?
What is a characteristic of urban retail locations?
What type of retailers often occupy freestanding sites?
What type of retailers often occupy freestanding sites?
Why are location decisions considered risky?
Why are location decisions considered risky?
What is a disadvantage of urban locations in central business districts?
What is a disadvantage of urban locations in central business districts?
What is a key consideration for retailers when choosing a location type?
What is a key consideration for retailers when choosing a location type?
What is a characteristic of inner-city areas in the United States?
What is a characteristic of inner-city areas in the United States?
What is an advantage of freestanding sites?
What is an advantage of freestanding sites?
What type of retail spaces are typically located in walkways of enclosed malls, airports, or college campuses?
What type of retail spaces are typically located in walkways of enclosed malls, airports, or college campuses?
What is a critical factor in selecting a location for a retailer?
What is a critical factor in selecting a location for a retailer?
What type of shopping situation is most likely to involve a consumer seeking a specific product or service?
What type of shopping situation is most likely to involve a consumer seeking a specific product or service?
What is a key consideration for retailers with unique offerings when selecting a location?
What is a key consideration for retailers with unique offerings when selecting a location?
What is the ultimate goal of evaluating specific areas for locations?
What is the ultimate goal of evaluating specific areas for locations?
What characteristic of a location is most important for retailers with similar offerings?
What characteristic of a location is most important for retailers with similar offerings?
What is a key factor to consider when evaluating the long-term profit of a store?
What is a key factor to consider when evaluating the long-term profit of a store?
Why do retail chains attempt to achieve promotion and distribution economies of scale?
Why do retail chains attempt to achieve promotion and distribution economies of scale?
What is a potential drawback of having multiple stores in an area?
What is a potential drawback of having multiple stores in an area?
Under what condition will a retailer continue to open new stores in an area?
Under what condition will a retailer continue to open new stores in an area?
What happens when there are too many stores in an area?
What happens when there are too many stores in an area?
Why do retailers aim to have multiple stores in an area?
Why do retailers aim to have multiple stores in an area?
What is a primary factor in determining the boundaries of a trade area?
What is a primary factor in determining the boundaries of a trade area?
What is the primary purpose of defining a trade area?
What is the primary purpose of defining a trade area?
What is a characteristic of a destination store?
What is a characteristic of a destination store?
What is the primary zone of a trade area?
What is the primary zone of a trade area?
What is a factor that affects the size of a trade area?
What is a factor that affects the size of a trade area?
What is the purpose of dividing a trade area into three zones?
What is the purpose of dividing a trade area into three zones?
Study Notes
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Description
This quiz covers the importance of store location for retailers, including how it can be a sustainable competitive advantage. Learn about retail location planning and decision-making.
