RETAILING CH 9 (trade area analysis) - RETAILING CH 9(trade...

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RETAILING CH 9 (trade area analysis) We are now ready to begin examining the actual retail mix, beginning with place. Chapters 9 & 10 both deal with the topic of location. It is obviously a very important part of the retail mix – you have all heard the phrase “location, location, location.” The ultimate goal of location is to maximize customer access. Location is also the least flexible part of the retail mix; not only are there large costs involved, but you could lose loyal customers if you try to relocate your business. Therefore, choice of location requires much thought & research. The process starts with trade analysis (ch 9) then moves to more specific site decisions (ch10). · Trade Area: geographic area containing the customers of a particular organization or group of orgs for specific goods & services; contiguous geographic area that accounts for the majority of an organization’s potential customers/sales. A thorough analysis of a trade area offers important info to a retailer (see pgs 217 & 218) o Geographic Information Systems (GIS): software which combines digitized mapping with key locational data to graphically depict trade area characteristics; in other words, it puts customer, competitor and supplier info in map format to aid in trade area analysis. Some examples of GIS
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