Question

Respond to the following in a minimum of 175 words: What do marketers have to know about their target markets to be able to decide where to locate their retail locations?

Answer 1

Retail Location

Every organization or firm which needs to establish or expand its business requires opening retail, shop through which they can directly interact with their customers and execute their sales process. But selecting an appropriate location is also very important in order to make sure that they are running their business with effectiveness as planned to achieve its organizational goals and objective.

Now let us discuss what marketers have to know about their target markets to be able to decide where to locate their retail location.

• The marketers need to know about the trend and taste of the customers in the market and evaluate those details with the product and services which the organization is dealing in this will give the marketers a better idea about the effectiveness of the product or service in that particular market and when they found the suitable market which gives promising response should be selected for further process.
• Economy also plays a vital role in establishing a retail chain in any location and markets need to know the financial capability of the market through this assessment they can easily create a future sale chart and assume how much they will be able to create sale opportunity according to their product or services price and if they found the market with sufficient economy structure which can afford and support the product they can choose the market.