Question
What is the importance of store location? Discuss the factors which influence in setting of a store location?
Answer :
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Importance of Location in Retail Business
Retail store location is also an important factor for the marketing team to consider while setting retail marketing strategy. Here are some reasons −
- Business location is a unique factor which the competitors cannot imitate. Hence, it can give a strong competitive advantage.
- Selection of retail location is a long-term decision.
- It requires long-term capital investment.
- Good location is the key element for attracting customers to the outlet.
- A well-located store makes supply
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