Mini-Case 14-2: "It's a Great Location for a Bar

question 95

Essay

Mini-Case 14-2: "It's a Great Location for a Bar"
Fred Stanford has just completed bartenders' school in Los Angeles and is ready to build a life for himself. Sunday's paper has an ad in the business opportunities section for a bar in Mesa Verde, Colorado. Fred has heard that the West is a high growth area and the quality of life in Colorado is very good. Fred's best friend, Carl, begins to ask Fred some questions about his new idea. "To begin with, Fred, where is Mesa Verde, Colorado?"
Fred decides to call the telephone number in the ad and is put in touch with Ansel King, a business broker located in Pueblo, Colorado. When asked where in Colorado Mesa Verde was, Ansel was prompt to point out that it was only 35 miles from Pueblo on the Interstate and has a population of nearly ten thousand. "Fred, this town is a great location for a bar, and I have just the kind of deal for a young man like you looking to get started."
-What city-related factors does Fred need to consider when evaluating this community as a location for a bar?

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Definitions:

Multi-Attribute Model

A theoretical framework used to understand how consumers evaluate the attributes of a product or service, driving their attitudes and decisions.

Importance Weights

Assigned numerical values that reflect the relative significance or priority of different factors, criteria, or variables in a decision-making process.

Scholarly Reputation

The level of respect or esteem that a scholar has earned from their peers within the academic community, often based on the quality and impact of their research.

Fishbein Model

A psychological model that attempts to predict behavioral intentions across a wide range of contexts, based on the beliefs about the outcomes of behavior and evaluations of these outcomes.