MKTG 424 CHP 7

What are free-standing sites? examples

location for individual stores unconnected to other retail (olive garden)

what are the pros and cons and free standing sites?

pros: high visibility, modest occupancy cost, separation from competition, more store

cons: no foot traffic, less drawing power

what is strip (neighborhood or community) shopping center? examples?

managed as a unit, attached row of stores, onsite parking (old chauncy square)

what are the pros and cons of strip centers?

pros: convenient locations, easy parking, low occupancy costs

cons: attract shoppers from a small area, lack of entertainment, no protection from weather

what is downtown locations of CBD? what are pros and cons?

downtown shopping locations

pros: draws ppl into area during business hours, hub for public transportation, high pedestrian traffic

cons: high security required, parking is poor, evenings & weekends are slow, high occupancy costs

what is power center? examples? pros and cons

primary collections of big box retail stores such as discount stores, off price stores, warehouse clubs, and category specialists

pros: open air set up, limited small speciality stores, low occupancy costs, modest vehicular & ppl traffic

cons: N/A

what are the pros and cons of shopping malls?

pros: many different types of stores, attracts many shoppers, never worry about the weather, comfortable surrounding to shop

cons: occupancy costs are high, competition can be intense, tenants may not like mall management control of operations

what is temporary or pop up stores? examples

spirit halloween, purdue farmers market

what is store within store location strategy? examples

subwau inside walmart, starbucks inside target, sephora inside kohls

what are the procs and cons of locating retail stores at airports?

pros: a lot of foot traffic, more customers, diverse group of customers, ppl can’t leave, less competition

cons: having to carry extra stuff before they fly, limited store and shelf space

what are the three types of consumer shopping situations? examples

convenience shopping, comparison shopping, speciality shopping

how do the three types of consumer shopping situations influence retailers’ location strategy? examples

convenience - minimize customer effort to get the product or service by locating stores close to where customers live, work & shop

comparison - customer have good idea of what type of product they want, but don’t have strong brand preference → competing retailers locate near one another

specialty - customers know what they want → convenient location matters less