Role of two locational theories and retail market identification in the emerging indian retail context
Answers
Site Selection for Retail Store (4 Factors)
Connectivity and ease of traffic flow: These are the two important issues that a retailer must consider while selecting a site.
Parking facility: ADVERTISEMENTS
Cost effectiveness: An important factor to be considered before taking the decision on a particular site is the cost consideration.
Answer:
Role of retail market
Explanation:
Retail is defined as “Any business that directs its marketing efforts towards satisfying the final consumer based upon, the organisation of selling goods and services as a means of distribution.”
- Wheel of Retailing:
This theory describes how retail institutions change during their life cycle. In the first stage when new retail institutions start business they enter as low status, low price and low margin operations.
- Retail Accordion Theory
This theory describes how general stores move to specialized stores and then again become more of a general store. Hollander borrowed the analogy ‘accordion’ from the orchestra.
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