MKT 320 Lecture Notes - Lecture 2: Swot Analysis, Target Market

• School: University of Miami
• Department: Marketing
• Course: MKT 320
• Professor: Scharf Ian

Document Summary

Brief description of each type: neighborhood center food or drugstore anchors, regional mall department store anchors, power centers collection of free standing stores or category killers, outlets owned by manufacturer themselves. 2 functions: attract shoppers, larger advertising budgets. Zonal merchandising: group retailers by merchandise category, allows for comparison shopping. Types of entertainment choices: movies, restaurants, mixed use developments. What is a lifestyle center: hybrid mall with high end retailers and easy parking, provides for social experience, designed for people who want to spend more money but don"t want to browse. Why are they appealing to customers: convenience, smaller than traditional malls, occupancy costs are lower, cater to adult men. Msa vs. micropolitan people pick when locating. Metropolitan statistical area 50,000 or more people. Factors affecting area (when you are looking to build: economic conditions, competition, strategic fit, cost. Factors affecting # of stores in an area (picking the site: economies of scale, cannibalization.