Retailing Site Locations Worksheet

I’m working on a marketing question and need an explanation and answer to help me learn.

 

1) Which factors do retailers consider when evaluating an area of the country to locate stores? How do retailers determine the trade area for a store?

2) True Value Hardware plans to open a new store.  Two sites are available, both in middle-income neighborhood centers.  One neighborhood is 20 years old and has been well maintained.  The other was recently built in a newly planned community.  Which site is preferable for True Value?  Why?

3) At Del Frisco’s Steakhouse, steaks run from about $42 to $89 whereas at Outback Steakhouse they run from about $12 to $27. What characteristics would Del Frisco’s look for in a trade area for a new location? How would those characteristics change for Outback?

4) Trade areas are often described as concentric circles emanating from the store or shopping center.  Why is this practice used?  Suggest an alternative method.  Which would you use if you owned a store in need of a trade area analysis?

 

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