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Self Quiz
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1
The best areas for locating stores are those that generate the highest long-term profits for a retailer. Which of the following factors should be considered when evaluating an area for long-term profits?
A)the economic conditions
B)competition
C)the strategic fit of the area's population with the retailer's target market
D)the costs of operating stores
E)all of the above
2
John is evaluating street congestion, parking space availability, and access for deliveries of a potential building to lease for his antique shop. It can be said that John is considering:
A)traffic flow
B)accessibility
C)potential sales for the site
D)characteristics of the trading zone
E)site characteristics
3
What retailer type would consider traffic count particularly important?
A)department stores
B)convenience store
C)specialty stores
D)price clubs
E)discount stores
4
When retailers gain scale economies from opening multiple locations in an area, they must consider the potential __________ that can cause diminishing returns associated with locating too many additional stores in an area.
A)channel competition
B)economies of scope
C)sales cannibalization
D)channel integration
E)channel competition
5
Traffic count is less important for:
A)Shopping malls
B)Destination retailers
C)Rural communities
D)Convenience stores
E)Specialty retailers
6
___________ states that a cluster of similar and complementary retailing activities will generally have greater drawing power than isolated stores that engage in the same retailing activities.
A)adjacent tenants
B)Analog approach
C)the principle of cumulative attraction
D)consumer spotting
E)diminishing adjacent
7
In terms of trade areas, the owner of John's Bar & Grill defines his ___________ as the geographic area in which 70% percent of his customers live.
A)primary trade area
B)fundamental market
C)geographic market
D)secondary trade area
E)tertiary trade area
8
John needed pans for his baking needs during the upcoming holidays. The only baking supply store in town that carried them required a trip of two trains followed by a ten block walk. To John, that baking supply store is a:
A)drawing store
B)discount retailer
C)magnet store
D)destination store
E)primary trade zone store
9
What is the objective of Huff's Gravity Model?
A)to create a comparative model that allows the retailer to determine the ideal location
B)to determine the hierarchy of retailing activities according to the assortment of merchandise available
C)to define the relative ability of two cities to attract customers from the area between them
D)to determine the probability that a customer residing in a particular area will shop at a particular shopping center
E)to define the relationship between the size of a shopping area and the area's income levels
10
When using this approach, the retailer simply describes the site and trade area characteristics for its most successful stores and attempts to find a site with similar characteristics. This approach is called:
A)Huff Gravity Model
B)Regression model
C)Analog model
D)Location model
E)Cumulative attraction model





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