| What are some of the Concerns for Location:
-For a New Business?
-For an Existing Business | -Should it be based at Home, or at an Office?
-City centre or Rural Area?
-Online or Physical Presence?
2. -Stay where it already is?
-Should it Expand?
-Would it be better to go somewhere else? |
| How can Raw Materials affect the Choice of Location? | -Simply put, the Cost of Obtaining the Raw Materials will most likely be more Expensive further away
-So locating near the Producer can reduce that Cost down |
| How can the Proximity to the Market affect the Choice of Location? | -Businesses need to make sure its Target Market can Interact with the Business in the most Effective way possible, and Location is Important for it
-If it moves further away from where the Densely Target Market its located, it may have less Sales.
-Online Businesses don't really Concern over this, cause well its the Internet - they just have to make sure their Promotion is Working |
| How can the Competition affect the Choice of Location? | -If the Business managed to Identify a Gap in the Market [No Competitors near] then it will obviously take the Chance.
-However, this isn't guaranteeing Profit, because of other Factors [Proximity]
-Maybe going near a Competitor can be Beneficial, because Customers may Swap over to yours if your 4Ps are Better |
| How can the Costs affect the Choice of Location? | -Starting up, and Existing Businesses are going to try to have the Costs as low as Possible
-Rent, Insurance and other Costs will be a Concern, and trying to find a Location which offers the Best Balance is Important |
| How can the Labour affect the Choice of Location? | -The Business needs to employ people, and the Location can have an affect on the Pool of Skills that is in there
-If the Business needs a Specific Skill, it needs to make sure it can be Attractive for that Person, and being Located far away may affect it
-Businesses using Automation for the Majority of the Time may simply Ignore this Factor.
-Also, the Costs of Labour can be another Factor to Include, because its something that can be very Annoying to deal with |
| What other Factors can affect the Choice of Location? | -Technology the Business contains
-If the Government assists you
-The simple Nature of the Business
-Infrastructure near the Business |
| How has the Internet [E-Commerce] affected the Location of a Business? | -This can allow new Businesses to emerge Online Fully
-This makes it Quicker and Easier to Start and run, as well as it being 24/7 and can reach out International through the use of Global Engines and Websites
-This makes Costs like Rent completly Reduendent but has IT Costs go up |
