Module 7: Retail Location

Question 1

Reasons why Location is important:
(3)

Answer 1

1. Most INFLUENTIAL CONSIDERATIONS in a customer’s store-choice decision
2. Develop sustainable competitive advantage since it CAN’T BE DUPLICATED
3. VERY RISKY

Question 2

Basic Types of Retail Location: (3)

Answer 2

a) Free Standing
b) City or Town Business District
c) Shopping Centers

Question 3

Factors to consider in choosing a location: (5)

Answer 3

✅Size of trade area
✅ Occupancy cost
✅ Pedestrian and Vehicle Customer Traffic generated
✅Restrictions on operations
✅ Locations convenience

Question 4

the GEOGRAPHIC AREA that encompasses most of the customers who would PATRONIZE A SPECIFIC RETAIL SITE.

Answer 4

trade area

Question 5

TYPES OF RETAIL LOCATION
(3)

Answer 5

A. UNPLANNED RETAIL LOCATION
B. CITY OR TOWN RETAIL LOCATIONS
C. SHOPPING CENTERS

Question 6

Two types of UNPLANNED RETAIL LOCATION (2)

Answer 6

Freestanding Sites
Outparcels

Question 7

are retail locations for an individual, and ISOLATED store UNCONNECTED TO OTHER RETAILERS.

Answer 7

Freestanding Sites

Question 8

Advantages of freestanding site

Answer 8

✅Provide convenience
✅High vehicular traffic and visibility to attract those customers driving by
✅Modest Occupancy
✅Fewer restrictions

Question 9

are stores that are NOT CONNECTED TO THE OTHER STORES in a shopping center but are located on the premises, typically in PARKING AREA

Answer 9

Outparcels

Question 10

Disadvantages of outparcels(2)

Answer 10

✅ Limited trade area
✅Have higher occupancy costs

Question 11

Types of CITY OR TOWN RETAIL LOCATIONS (3)

Answer 11

1. Central Business District (CBD)
2. Main Street
3. Inner City

Question 12

the TRADITIONAL DOWNTOWN BUSINESS area in a city or town. This is the hub for public transportation, with high pedestrian traffic.

Answer 12

Central Business District (CBD)

Question 13

refers to the TRADITIONAL SHOPPING AREA in smaller towns or a SECONDARY BUSINESS DISTRICT in a suburb or within a larger city.

Answer 13

Main Street

Question 14

refers to HIGH DENSITY URBAN AREAS that have higher unemployment and lower median incomes than the surrounding
metropolitan area.

Answer 14

Inner City

Question 15

the PROCESS OF RENEWAL AND REBUILDING of offices, housing,
and retailers in deteriorating areas

Answer 15

Gentrification

Question 16

A group of retail and other commercial establishments that are
PLANNED, DEVELOPED, OWNED, AND MANAGED AS A SINGLE PROPERTY.

Maintains a common facilities referred to as COMMON AREA
MAINTENANCE (CAM)

Answer 16

SHOPPING CENTERS

Question 17

As a management, shopping centers are responsible for activities such as (4)

Answer 17

✅providing security
✅parking lot lighting
✅ outdoor signage for the
center
✅ advertising and special events to attract consumers.

Question 18

Types of Shopping centers(6)

Answer 18

1. Neighborhood and Community Shopping Centers (Strip Shopping
   Center)
2. Power Centers
3. Shopping Malls
4. Lifestyle Centers
5. Mixed Use Development (MXDs)
6. Outlet Center

Question 19

are ATTACHED ROWS OF NONENCLOSED STORES, with on-site parking usually located in front of the stores.

Answer 19

Strip Shopping Center

Question 20

Other name of Neighborhood and Community Shopping Centers

Answer 20

Strip Shopping
Center

Question 21

are shopping centers that consist primarily of COLLECTIONS OF
BIG-BOX RETAIL STORES
“Open air”

Answer 21

Power Centers

Question 22

are ENCLOSED, climate-controlled, lighted shopping centers with
retail stores on one or both sides of an enclosed walkway.

Answer 22

Shopping Malls

Question 23

COMBINE SEVERAL DIFFERENT USES INTO ONE COMPLEX including retail,
office, residential, hotel, recreation, or other functions.

Answer 23

Mixed Use Development (MXDs)

Question 24

Are shopping centers that have an OPEN-AIR CONFIGURATION of
specialty stores, entertainment, and restaurants, with design ambience and amenities such as fountains and street furniture.

Answer 24

Lifestyle Centers

Question 25

Are shopping centers that CONTAIN MOSTLY MANUFACTURER’S AND RETAILERS OUTLET STORE

rent rates are lower than shopping malls

Answer 25

Outlet Center

Question 26

New shopping center developments are COMBINING AND CLOSED MOST LIFESTYLE CENTER stand power centers

Answer 26

Ominicenters

Question 27

OTHER LOCATIONS of shopping center

Answer 27

1. Pop-up stores
2. Store within a Store
3. Merchandise Kiosk
4. Airports

Question 28

which are STORES IN TEMPORARY LOCATIONS that focus on new products or a limited group of Products.

Answer 28

Pop-up stores

Question 29

• are SMALL SELLING SPACES, typically located in the walkways of enclosed malls, airports, train stations, or office building
  lobbies.

Answer 29

Merchandise Kiosk

Question 30

SHOPPING BEHAVIOR OF CONSUMERS (3)

Answer 30

1. Convenience Shopping
2. Comparison Shopping
3. Specialty Shopping

Question 31

When consumers are engaged in CONVENIENCE SHOPPING SITUATIONS, they are primarily concerned with MINIMIZING THEIR EFFORT TO GET THE PRODUCT or service they want.

They are relatively insensitive to price and indifferent about which
brands to buy

Answer 31

Convenience Shopping

Question 32

Consumers involved in COMPARISON SHOPPING SITUATIONS have a general idea about the type of product or service they want but they do not
have a well-developed preference for a brand or model.

Answer 32

Comparison Shopping

Question 33

When consumers go specialty shopping , THEY KNOW WHAT THEY WANT and
WILL NOT ACCEPT A SUBSTITUTE.

They are BRAND AND/OR RETAILER LOYAL and will pay a premium or expend extra effort, if necessary, to get exactly what they want.

Answer 33

Specialty Shopping