Exam 9: Trading-Area Analysis

The trading area with the highest average purchase by a customer is the ________.

The American Community Survey is updated yearly.

PRIZM describes a geographic area via lifestyle market segments.

Store location is generally considered the least flexible element in a retailer's strategy mix.

A major benefit of a trading-area analysis is that it allows a retailer to determine ________.

An area with a relatively large number of consumers per square foot of available store space is ________.

What type of economic base is preferred by most retailers?

Between 50 and 80 percent of a store's customers come from its ________ trading area.

A retailer seeking to study the population characteristics of residents within its primary trading area (a 2-mile radius around its store)should utilize ________.

Each retailer is able to earn an adequate return on his/her investment when an area is overstored.

Which statement about the trading area of a parasite store in a regional shopping center is correct?

The point of indifference is a critical statistic in a gravity model.

An area which has the proper amount of stores to satisfy the needs of its population for a specific good or service is a(n)________ trading area.

Huff's law is an example of a(n)________ computer site selection model.

A retailer seeking a stable economic environment should seek a trading area with a ________.

A major refinement in Huff's law versus Reilly's law is Huff's use of ________.

A newspaper stand in a hotel lobby can best be described as a ________ store.

Under what conditions should a retailer have high trading-area overlap among its branches? Explain your answer.

a.Explain how an existing appliance retailer can delineate its trading area using primary data. b.Explain how an existing appliance retailer can delineate its trading area using secondary data.

In comparison to the American Community Survey,the major advantage of the Census of Population is its currency.