Chapter 13. Hot Spots, Oil Stains, and the Perfect Location
LET'S SAY THAT your strategic planning has identified the Houston, Texas Metropolitan Statistical Area (MSA) as your next target market. How then do you find the best specific locations in Houston? The answer requires a three-step process. The first is market planning, in which you use demographic data and detailed analysis to identify the best trade areas or retail trade zones within the Houston MSA. The second step is site selection, which requires identifying potential individual loca tions in each trade area and evaluating them in person. The final step is to build sales estimates for the proposed location(s) to ensure that the economic model is profitable.
Every major metropolitan ...
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