RMG 200 Lecture Notes - Lecture 5: Gentrification, Traffic Flow

• School: Ryerson University
• Department: Retail Management
• Course: RMG 200
• Professor: David Lewis

Document Summary

Rmg chapter 5: retail locations strategy- trade area and decisions and site. Evaluating specific areas for locations: economic conditions, competition, strategic fit, operating costs. Region- retail location analysis, refers to a part of the country, a particular city, or a census metropolitan area. Saturated area- trade area that offers customers a good selection of goods and services, while allowing competing retailers to make good profits. Under stored trade areas- area that has too few stores selling a specific good or service to satisfy the needs of the population. Overstores trade area- area having so many stores selling a specific good or service that some stores will fail. Franchisors- owners of a franchise in a franchise agreement. Franchisees- owners of an individual store in a franchise agreement. Retail site selection- opening a store involved committing to a lease of 5 years or more, purchasing land and building a store, or buying an existing building, each of which requires investments.