Experimental Course GEOG 4980
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This 2 page Study Guide was uploaded by Keshaun Huel on Sunday October 25, 2015. The Study Guide belongs to GEOG 4980 at University of North Texas taught by Staff in Fall. Since its upload, it has received 42 views. For similar materials see /class/229168/geog-4980-university-of-north-texas in Geography at University of North Texas.
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Date Created: 10/25/15
We talk UNIVERSITY OF NORTH TEXAS Department ofGeography GEOG 4980 Applied Retail Geography Dr Murray Rice Study Guide Midterm 1 ed about more in class than what is outlined below but these are some basics you need to understand for the midterm Modu Modu le 1 Why Study Retail Location The connection between business success and use of available information Example of bad information use Eaton s defunct Canadian department store chain 0 Mistake in Calgary cover the city including areas not suited to the store 0 Mistake in Edmonton focus on good markets good but stores too close together bad Example of good information use WalMart Connection between information and geography Pred s behavioral matrix Two key dimensions of Pred s matrix 0 Amount of Information 0 Ability to Use Information In class we also identified two key parts of the behavioral matrix part A and part B 7 see class notes for their definitions We also made the connection between the behavioral matrix and one last related concept spatial margins to profitability 5MP Important to understand the SMP diagram discussed in class and the meaning of the SMP concept le 2 Geography of Demand Discussion of four key components of the economy 1 quaternary sector 2 tertiary sector 3 secondary sector 4 primary sector Key point the US economy is currently evolving to emphasize quaternary and tertiary activities including retail Importance of good location decisionmaking for both firms and the places where they locate Location marketing and advertising The Seven P5 of marketing 1 People Physical Distribution Prom otion Packaging SQEJ HeP N Geography is important in PS 1 4 and 5 Retail sales depend on market characteristics retail sales fmarket A few key market characteristics for retailers 0 Location 0 Income 0 Demographics 0 Lifestyle Five fundamental kinds of market area limits institutional spatial decay l 2 3 settlement density 4 5 competition Module 3 Major Actors on the Supply Side Definition of guaternag activities processing knowledge and information including making decisions using knowledge and information The focal point of Corporate America the headquartershead office 0 Exxon Mobil in Irving Global headquarters 0 Shell Oil in Houston US headquarters o Prudential Financial in Dallas regional headquarters The headquarters as one part of the larger corporation The corporate headquarters and a complex external environment The external competitive environment factors the firm cannot control 0 Markets 0 Suppliers 0 Government regulators Although such elements are beyond the firm s direct control business do try to exert some in uence advertising lobbying One good example of companies influencing other companies is the concept of interlocking corporate directorates companies sharing board members creating a link between the firms Another in uence example WalMart environmental impacts and public perceptions High level of competition today means that change is an ongoing part of the retail sector examples cited in class of various retail changes Geography is an important element of retail competition and change Module 4 The Value of Location Understand the concept that some firms require accessible locations while others don t think of the cases inside the mall across the city 0 Which firms need central accessible locations 0 Which firms don t care and will succeed in outoftheway places
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