Read the overview below and complete the activities that follow. When asked, \"W

Question

Read the overview below and complete the activities that follow.

When asked, "What are the three most important things in retailing?" many retailers respond, "Location, location, location!" Store location is one of the most important decisions a retailer can make. First, location is typically one of the most influential considerations in a customer's store-choice decision. Secondly, location decisions also have strategic importance because they can be used to develop a sustainable competitive advantage. Finally, location decisions are risky because of the substantial investment and long-term commitment.

CONCEPT REVIEW:
Many types of locations are available for retail stores, each type with its own strengths and weaknesses. Retailers have three basic types of locations to choose from: freestanding, city or town business district, or shopping center. Retailers can also locate in a nontraditional location such as in an airport or within another store.

QUESTION PROGRESS Click And Drag Click And Drag Match the example and characteristic to the retail location. RETAIL LOCATIONS CHARACTERISTIC Located in malls, alrports, colleges, or offces, Look like small carts or stores, Easly moved Freestanding Sites Convenient ur cnsurers, High vehicular trallic, High visibility to customers Central Buisness District Offer customers convenient locations, Easy parking, Relatively low accupancy costs, Limited trade area Strip Shopping Center Enclosed, Climate-Controlled, Attract many shoppers, Large trade area, Inexpensof enterainrment Shopping Mall Resemble main streets,* Open air configuration, Attractive to specialty retailers, Attractive outcloor arnbiene Lifestyle Center untain nly manufaclurers' and relailers ullel slor Lower rent than shopping malls Outlet Center High pedestrian traffic, Convenient during business hours Merchandise Kiosk glossary

Explanation / Answer

Retail location Characteristics Freestanding Sites High pedestrian traffic, convenient during business hours. Central Business District Contain mostly manufacturers and retailers outlet stores, Lower rent than shopping malls. Strip Shopping Centre Resemble main street, open air configuration. Attractive to specially retailers, Attractive outdoor ambience Shopping mall Offer customers convenient location, Easy parking, Relatively low occupancy cost, limited trade areas. Lifestyle Center Convinient for customers , High vehicle traffic, High visibility to consumers. Outlet Center Enclosed, Climate controlled, Attract many shoppers, Large trade area, , Inexpensive form of entertainment. Merchandise Kiosk Located in malls, airports, colleges or office, look like small carts or stores, easily moved

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