State the Fundamental Objective of a Firm's Location Strategy

question 14

Essay

State the fundamental objective of a firm's location strategy. How is this basic objective carried out by industrial or goods-producing firms; how does that differ for service firms?
Answer in a clear, convincing paragraph.

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Definitions:

Product Differentiation

A marketing strategy where a company attempts to make its product appear unique and more attractive than those of its competitors.

Market Segment

A subgroup of people or organizations sharing one or more characteristics that cause them to have similar product needs.

North Carolina

A U.S. state located in the southeastern region, known for its diverse landscapes ranging from Atlantic Ocean beaches to the Appalachian Mountains.

Target Market Segment

A specific portion of a broader target market identified as being most likely to respond positively to certain marketing strategies.