Which of the Following Statements About Location Strategy Is True

question 7

Multiple Choice

Which of the following statements about location strategy is true?

• A) Location is the second most important characteristic that consumers examine when selecting a store
• B) Location offers an opportunity to gain a long-term advantage over competitors
• C) Consumers do not use convenience as a basis for selecting where to shop
• D) Location can never be used to gain any kind of long-term advantage over competitors due to retailing's low entry barriers
• E) The only two characteristics more important than location in the selection process of where to shop are price and sales promotions

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Definitions:

Product Quality

The characteristics of a product or service that bear on its ability to satisfy stated or implied customer needs.

Repeat Customers

Individuals who make purchases or avail services from the same business or seller on multiple occasions, indicating loyalty or satisfaction.

Franchiser

A business entity that grants a license to a third party for the conducting of a business under the franchiser's marks.

Product Quality

The perceived value or characteristics of a product that meet or exceed the expectations of its users.