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Retail Location

Retail Location

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Published by surya4search
Location Of Retail Stores presentation.
Location Of Retail Stores presentation.

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Categories:Types, School Work
Published by: surya4search on Aug 30, 2010
Copyright:Attribution Non-commercial

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05/24/2012

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Retail Location
Important due to-1-Prime consideration of customer¶s store choice,based on nearness to home/work, linked with other domestic work2-strategic importance for sustainable competitive advantage.Merchnadise,price, assortments can b changed but not location of a store. competitors can¶t easily copy as they r precluded fromlocating there.3-entry of more and more co¶s in organized retailmaking difficult to find suitable location within budget,4-Forms animportant P of place for a long time for adequate assurance for asuccess,5-It also influences the merchandise mix and interior layouof store.6-even with emergence of web location of store form animportant step of retail strategy.1-Location analysis-Factors affecting retail store location/siteselection ±A-Macro level-based on research of cbb, 1) travel time treach store 2) parking space availability 3)nearness of complimentary stores or even competitors store to attract morecustomers, 4) investment to b made for site as it impacts return -.scalculate catchments potential index. average transaction valuewithin a viable drive or walk time.5)delivery effectiveness in relationto consumer perceptions and expectations,6)financing methodsavailable for purchasing or leasing, if interest rate is more thenentire cost ±benefit analysis gets impacted.
 
Location analysis cont-Besides above factors subjective judgment,assesment of entrepreneur is also necessary. based on informationavailable as any delay in decision on site selection can bcostly mistake.2-Trade area analysis-market area of any potential locationto b identified.Retail market is one where any group of individuals whoposses the ability, desire and willingness to buy retail goodsor services. Retail trade area is the one geographic areawithin which retail customers reside or work. Customer profile of a segment of the people with in such geographicalarea necessary to serve thru store as target marketMNC¶s setting up stores in various countries start withcountry analysis-comprising demographic analysis andpopulation characteristics, C¶s age gender income educationfamily cahractorstics,occupation and many such variableswhich r useful to select market segments which finallybecomes target markets for retailer 
 
Trade area analysis cont--Besides demographic factors-economic and infrastructural,cultural and competitive environment prevailing trade area alsoneeds to b analyzed-Information to b gathered-1-land area,2-population,3-agedistribution,4-household size and type,6-marital status,7-familysize and type,8-owner occupied housing,9-rental status,10religion,11-language spoken,12-schools, 13-income types, 14-poverty status,15-departure time for work,16-occupation,17-working women,18-,fertility rates,19-vehicles owners20telephone subscribers 21-TV ownership.Above variables help location decision and also product linepotential e.g. toys shop location banana for children, economicfactor i.e. unemployment will affect purchasing power in thatarea, per capita income data helps in projecting demands for various merchandise. Economic stability of area can bestimated from household incomes and expenditure patterns,Buying power index and effective buying incomes r calculatedto arrive at fairly accurate analysis of trade area.

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