MANAGEMENT

Detailed explanation-1: -Importance of Location in Retail Business It requires long-term capital investment. Good location is the key element for attracting customers to the outlet. A well-located store makes supply and distribution easier. Locations can help to change customers’ buying habits.

Detailed explanation-2: -1) Identify the market in which to locate the store 2) Evaluate the demand and supply within that market i.e. determine the market potential or the market size and estimate the number of shops that would be required to serve the market. 3) Identify the most attractive 4) Select the best site available.

Detailed explanation-3: -Customer perception is the opinions, feelings, and beliefs customers have about your brand.

Detailed explanation-4: -It’s commonly believed good location is the key element to attracting customers. A well-located store also makes supply and distribution easier. Location can influence a retailer’s ability to market itself, and to deal with the competition it faces from other businesses.