MAT 114 Lecture Notes - Lecture 7: Zip Code, Profit Margin, Asset Turnover
27 Nov 2017
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Segment or breakdown, heterogeneous consumer populations into smaller, more homogenous groups based upon certain characteristics deemed attractive by the retailer. Segment of the market that the retailer decides to pursue through its marketing efforts. Accessible: reach customers through promotion and distribution efforts. Store based retaliers: requires consumers to travel to store. Non-store based retailers: reach customers at other locations. Usually in center of city, unplanned, near public transportation. Located near at least 1 department or general merchandise store and major street intersection. Area to satisfy the convenience-oriented needs of a neighborhood. Facilities that can be adapted to individual needs. Difficulties in attracting customers for the initial visit. Computerized system that combines physical geography with cultural geography. And all structures and where they are located. Use visual techniques such as colors, shading, and lines to display cultural characteristics of the physical space. Market selection (rank most attractive cities for target mkt) New store cannibalization (same stores in the community)
