MKT 320 Lecture Notes - Lecture 1: Strip Mall, Grocery Store, Taco
4 Apr 2016
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Document Summary
What environmental factors suggest that the concept would be successful: need a large local market. 3 million live in 13 counties surrounding mall: natural tourist area. 10,000 lakes, 15 million a year, 50% in mall area: consumer desire to combine shopping and entertainment. What environmental factors suggest that the concept would not work: decline of the shopping mall. Revenue hit peak during 60s, 70s, 80s. Declined in the 90"s: getting stores to come in. From a retailer"s perspective, why not locate there: higher rent, some only come for the entertainment. Street suburban or small town: shopping centers business that are treated (operated) as a single entity, convenience, neighborhood and community (strip mall) Grocery store/ drugstore anchor with convenient parking: power centers. A collection of discounters or category specialist: shopping malls. Combines residential, commercial, and shopping into one: outlet. Owned by manufacturers themselves: pop-up stores. Temporary, seasonal (christmas/halloween), or trying new concept: store within a store.
