Consumer law and buisness location Flashcards
1
Q
What are the different factors of location?
A
- cost of rent/land
- proximity to suppliers
- population size
- proximity to competitors
2
Q
Why is cost of rent important to consider?
A
- costs are lower then profit is higher
3
Q
Why is proximity to suppliers important to consider?
A
- reduces delivery time
- reduce delivery charges
4
Q
Why is population size important to consider?
A
- higher number of potential customers
- higher number of potential employees.
5
Q
Why is proximity to competitors important to consider?
A
- locating away from them means there is less need t spend time luring customers
