Identify the first step in the retail location decision.
A) Evaluation of the trading area's demand and supply density.
B) Identification of the most attractive markets in which to operate.
C) Evaluation of capital constraints facing the retailer.
D) Evaluation of the trading area's supply related factors.
E) Identification of the trading areas that should be ignored.

Question

Quizplus · Accepted Answer

The first step in the retail location decision is to identify the most attractive markets in which to operate. This involves analyzing demographic information, income levels, and consumer behavior to determine which areas have the most potential for success. Only after identifying these markets can the retailer move on to evaluating supply and demand factors, capital constraints, and other considerations.

Identify the First Step in the Retail Location Decision