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    Video Critique

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    Christhel Kaye Mametes
    The document summarizes two videos about selecting retail store locations. The first video discusses the importance of location and different theories for choosing a location, such as gravity models. It also outlines the methodology for selecting a region and conducting field research. The second video discusses strategic planning and how location is a key part of retail strategy, as retailers want to be where customers can easily find them. Both videos emphasize that selecting the right store location is important to gain customers.

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    © All Rights Reserved
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    Video Critique

    Uploaded by

    Christhel Kaye Mametes
    55 views2 pages
    The document summarizes two videos about selecting retail store locations. The first video discusses the importance of location and different theories for choosing a location, such as gravity models. It also outlines the methodology for selecting a region and conducting field research. The second video discusses strategic planning and how location is a key part of retail strategy, as retailers want to be where customers can easily find them. Both videos emphasize that selecting the right store location is important to gain customers.

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    VIDEO CRITIQUE

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    The document summarizes two videos about selecting retail store locations. The first video discusses the importance of location and different theories for choosing a location, such as gravity models. It also outlines the methodology for selecting a region and conducting field research. The second video discusses strategic planning and how location is a key part of retail strategy, as retailers want to be where customers can easily find them. Both videos emphasize that selecting the right store location is important to gain customers.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    55 views2 pages

    Video Critique

    Uploaded by

    Christhel Kaye Mametes
    The document summarizes two videos about selecting retail store locations. The first video discusses the importance of location and different theories for choosing a location, such as gravity models. It also outlines the methodology for selecting a region and conducting field research. The second video discusses strategic planning and how location is a key part of retail strategy, as retailers want to be where customers can easily find them. Both videos emphasize that selecting the right store location is important to gain customers.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 2

    MKTG 2133 Retailing Management

    VIDEO CRITIQUE

    As many retail experts would agree it is location that is the least flexible resource
    and since that is the one most difficult to change, one needs to proceed very carefully in
    the process of selecting the right location for the propose retail store. Location is all
    about being in the right place so that the customers can get right merchandise at the
    right time. If the retailer has got his location right therefore he has got his retail business
    right.

    Retail location has long been considered as an important strategic business decision for
    a number of reasons. First, consumers’ store choice decisions are influenced greatly by
    accessibility of retail locations according to spatial interaction models, which denote the
    relationship between a consumer’s perception of utility and characteristics of a
    destination. Second, retailers may be able to develop a sustainable competitive
    advantage through location strategy.

    The video starts on discussing first the importance of location. A retailer chooses
    his location based on the key factors of easy access by customers, store visibility, store
    positioning and cost that would impact the success of the store. A tremendous amount
    of research should go into finding the right location. Traditional approaches, Go by
    gut feeling approach, attribute check list approach, parasitic approach, analogue
    technique was mentioned in considering the right store locations. The methodology
    that needs to be followed when selecting a location was also presented: Selecting a
    region base on business strategy, form an area attractiveness index, check if the format
    is right for the customers- conduct a structured field research in order to understand the
    area in terms of the current levels of customer, product profiles and price points and
    competitive profiles in the area.

    Second it discussed about the retail location theories such as Gravity theories,
    Law of retail gravitation- The law presumes the geography of the area is flat without
    any rivers, roads or mountains to alter a consumer's decision of where to travel to buy
    goods. It also assumes consumers are otherwise indifferent between the actual cities.
    Huff’s Gravity Model- s a mathematical model that recognizes the correlation between
    patronage and distance from the location of the store. So in other words, the further a
    consumer is from your location, the less likely it will be for that person to shop there.
    Central Place Theory- is a geographical theory that seeks to explain the number, size
    and location of human settlements in a residential system.

    The theory that was presented in the video was the theory widely used in
    selecting the right location for the store. Those mentioned theories has helped
    geographers and planners to locate new services and planned settlements for their
    store.

    The next video was about the strategic planning in relation to retail location.
    Because of such dramatic changing time retailers using a shift in business and their
    customers’ needs which is forcing retailers to concentrate more attention in strategic
    planning- is a detailed marketing plan related to of the business, its targets and ways
    and methods to achieve it, in relation to retail. Retail location is an important part of
    retail strategy because location is the key to customer, retailers want to be in a location
    where customers can easily find them. The types of location stated in chapter 7 of the
    book was also p[resented in the video in a very comprehensive manner such as giving
    examples.

    In conclusion the 2 video emphasized that a good store location is the key to
    customers which is very important part in business. We have to find the right location for
    our store in order to gain customer.

    Video Links:

    https://www.youtube.com/watch?v=rkaW2KaUYfI&t=169s

    https://www.youtube.com/watch?v=kEDd08tQgQY&t=46s

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