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Essay / Research Paper Abstract
This 9 page paper looks at how companies choose retail sites. The writer discusses the importance of location with reference to the local population, access to the target market, footfall levels, accessibility by transport and the concept of clustering. Other influences such as property prices, competition and supply chain management are included. The paper stars by looking at the theory and then considers how this can be observed in practice. The bibliography cites 9 sources.
Page Count:
9 pages (~225 words per page)
File: TS14_TEretailoc.rtf
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Unformatted sample text from the term paper:
retailing is like any other business, simply having a shop and stock does not mean that the outlet will be successful. There are a large number of influences that can
increase the chances of success. Marketing can be important to attracting customers into a store, letting them know that the store exists and where it is, the displays in windows
and goods sold may be important in helping to attract customers into that retail environment. However, it may be argued that one factor present when setting up a retail business
can be highly influential on the success of a company and the way in which marketing and other support strategies need to be developed; the choice of location. The
choice of location is not the only key factor in creating a successful retail outlet, but it is certainly one. If a store is set up away from any other
shops and does not have potential customers walking past it then marketing may be far more important than for a comparable store set up on a high street with a
high level of foot traffic. Location is therefore important in terms of the way that the retail outlet will compete and how resources will need to be allocated. The aim
of this paper is to consider the way in which retailers do, or should, choose location(s) and look at how this can be seen in the real retail world.
2. The Theory Behind Retail Location Selection The traditional approach to determining the location of a retail outlet has been with the consideration of trade areas and the accessible
market share as well as management of retail networks (Ghosh and McLafferty, 1987). Concepts such as Voronoi tessellations and Reillys law of retail gravitation have been seen in many publications
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