\"the proximity to the market\". If you are locating a business that is dependen
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Question
"the proximity to the market". If you are locating a business that is dependent on consumer consumption you want to locate in an area that has high traffic that matches your targeted client profile. You may also want to know what similar businesses are located in the vicinity. I still do not understand why businesses in this country all locate next to each other, for example drug stores. There will be one on every corner of the same intersection and then you won't find one for miles. This may be a benefit though. What are your thoughts? Is it a benefit or a detriment having similar businesses located close to each other?
Explanation / Answer
This is kind of phenomena , you can see across globe. In India, Agra is known for lock industries, some cities are known for cement factories, some areas are known for their skill in making Sarees ( Womens cloth).
In our case business of similar types are closed to together, in some regions only Male shops, some areas are with drugstores, some areas are with bakeries etc. We had very familiar with the marketing concepts like segmentation, targeting and positioning about a product. The above is a clear case of segmenting place into particular category of business and placing or creating a positioning in the minds of the people that, Place 'ABC' for drugstore.
This positiong of places could be beneficial to all the firms in that region, because people from different locations (Including from far places) are coming to these places and these shops are gettiing more businesses than usual.The customers had a wide variety of chooses in these locations.
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