business location Flashcards
1
Q
what is business location
A
Business location refers to the geographical place where a business chooses to operate, affecting costs, sales, and access to resources.
2
Q
Why is customer accessibility important in choosing a business location?
A
Customer accessibility is crucial for attracting foot traffic, especially for retail businesses, as it impacts sales volume and customer convenience.
3
Q
How does proximity to suppliers influence location choice?
A
- reduce transportation costs,
- improve supply chain efficiency,
- ensure timely delivery of raw materials.
4
Q
What role does competition play in location decisions?
A
- few competitors to reduce rivalry
- or near competitors in high-demand areas to benefit from customer traffic.
5
Q
How does cost influence business location?
A
- rent
- utilities
- wages
6
Q
How does labor availability affect location choice?
A
- skills
- quantity
- wage
