Place

Question 1

Meaning of convenience

Answer 1

Consumers are more likely to buy a product if the location is convenient, particularly for low value, high frequency purchases.
Creates a loyal customer base

E.G
Bossman’s Corner shop

Question 2

Meaning of Accessibility

Answer 2

The place of purchase must be easy to reach… Traffic, parking

Having a shop near a bus stop or train station
This allows more regular customers who need things quickly

Question 3

Meaning of cost of access

Answer 3

Consumers hate paying for parking this is a crucial
Factor in the rise of out of town stores- shopping centres

Question 4

Meaning of Reputaition

Answer 4

Somme sites are worth paying higher rents for, due to the reputation of the area
Therefore they are able to charge higher prices
Big Boost in brand image

Question 5

Meaning of Localisation

Answer 5

Adjacency to competitors may result in greater footfall.
Being close to competitors creates options for the consnumer

Question 6

Meaning of point of sale

Answer 6

Getting customers to part with
More cash once they are in the store

Where do you see chewing gum in shops?

E.G
how will you place items strategically to make people spend more money