Nobody downloaded yet

The three keys to success in retailing are location, location, location - Essay Example

Comments (0) Cite this document
Summary
Cultivation and harvesting of land became the foundation. There would be an intermittently excess of goods. When the needs of his family and community were met, he would then take an attempt to trade his goods for other varying goods that were being produced somewhere else .Thus the markets were formed then…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER91.4% of users find it useful
The three keys to success in retailing are location, location, location
Read TextPreview

Extract of sample "The three keys to success in retailing are location, location, location"

Download file to see previous pages This eventually led to symbolic representation, of these debts in the form of precious items like gemstones etc. and eventually the instrument 'Money' developed and is being exchanged. Ultimately, markets developed and shops became a permanent part of these markets. This was where the retail trade initiated.
Retail trade in actual is embedded in two significant groups the Peddlers and the Producers. The peddlers would purchase the commodities they thought would sell in the market for a profit and the producers on the other hand were more interested in selling only the goods they were producing .
This trend continues even today, with certain specific shops specializing in certain specific areas, these actually reflect their origins, as in a broad mix of producers. Such as a general store. Such as Casey's in the mid west of U.S.A .the general store has taken over the establishments of specialist shops. The customer's find this more convenient o visit, than to visit four different shops for their choice of goods. The term Convenience stores are also used for such stores. These have further developed into Super markets or super stores'1.
'It was Frank Woolworth who initiated his retail business also his career in 1873. He worked as a sales assistant in the Augusbury and Moore Dry goods store in Water Town New York. William Moore the co owner took pity on this young boy and accepted his plea of a three month free work trial at the store. The country (America) was still recuperating since after the civil war and the cash was surely tight. A brainwave occurred to Moore; he wanted to display all his surplus stock at a fixed price of 5 cents per piece. He then asked Frank to arrange for it.
Back in 1877 this fixed price strategy for one whole day was quite new, and not a routine concept like today. In those days, the prices never used to be displayed along with the products instead the customers had to always ask the assistant for the prices. These prices in those times used to vary from individual buyer to another individual buyer majorly depending upon how they looked! An amazingly attractive display was setup by Frank, he used a red colored material and it had Gold lettering over it , this boosted sales and also developed a lot many peoples interest . Frank truly believed that a whole big Store could be filled up with five cent goods rather than just one single counter. And, so in 1879, he somehow was able to persuade Mr. William Moore to support him in the opening of a store of his own. He failed in his first attempt, which was at Utica in New York. His store was popular initially but gradually the sales declined. But at his first attempt frank had made enough money to clear all his debts and also along with all this he learnt a very valuable lesson , that he had to really make sure that his store should have been located at the heart of the town instead of some side street area . He gave it another try and this time around he, opened in Lancaster Pennsylvania, about 60 miles away. Franks' store opened on June 21st, 1879. It was a huge success from the start, taking $127.65 on its first day.

Woolworth's Success
Someone ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“The three keys to success in retailing are location, location, Essay”, n.d.)
The three keys to success in retailing are location, location, Essay. Retrieved from https://studentshare.org/miscellaneous/1531945-the-three-keys-to-success-in-retailing-are-location-location-location
(The Three Keys to Success in Retailing Are Location, Location, Essay)
The Three Keys to Success in Retailing Are Location, Location, Essay. https://studentshare.org/miscellaneous/1531945-the-three-keys-to-success-in-retailing-are-location-location-location.
“The Three Keys to Success in Retailing Are Location, Location, Essay”, n.d. https://studentshare.org/miscellaneous/1531945-the-three-keys-to-success-in-retailing-are-location-location-location.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF The three keys to success in retailing are location, location, location

Model Location (Jaimaica) Versus Target Location (Cambodia)

...?Model Location (Jamaica) Versus Target Location (Cambodia) Introduction The promotion of the health and wellbeing of people has been a goal that every government has sought to achieve. This is because it takes a very healthy and strong population to turn the workforce of a nation into productivity (Guerrant and Mcauliffe, 2006). As a single disease, diarrhea has been found to be the cause of over 8% of deaths resulting out of diseases in South America (Snyder and Merson, 2002). This is an alarming situation that needs urgent attention. Major successes that have accompanied campaigns against diarrhea are indications that when such programs are replicated in other parts of the world, the harm that diarrhea causes as a disease can... ...
4 Pages(1000 words)Research Paper

Operations Management - Location

...? Operations Management - Location Pros and Cons – Small Business Owners Wal-Mart has continued to colonize the global market through its relentless expansion. Wall mart has over the years opened new megastores nearly every two business days, and it has at the same time continued to expand on average into a new nation every year. Being a true global company, Wal Mart has redefined and changed the shopping experience for each and every American customer (Fishman, 2006). An advantage of Wal-Mart is that it will attract a number of businesses to the region. According to researchers, the company has no statistically direct impact on the number of small businesses. It has, on the other hand, proven that a number of...
3 Pages(750 words)Essay

Strategizing optimum location

...Problem definition: Strategizing optimum location for Manufacturing 2) Service Problem context and background: To better illustrate the case, we'll consider a typical food processing industry, e.g. an abattoir that supplies packaged meat directly to Retail stores. The method used in IP is called "Hub location", solved using hub-and-spoke networks, which minimize transport cost across the network. Arriving at a precise location requires a combined methodology of "simplistic" transportation techniques (e.g. MODI) to derive least "time" in movement of goods, linear programming network "flow" designs which ...
2 Pages(500 words)Essay

Location, Location, Location

...can be saved in this way. Now, the problem is regarding the location. The three locations under consideration are Kansas, Minnesota, and Texas. Here, one has to remember the factor of competitive advantages. For example, when a new business is started, one should take into consideration whether there is some need for a new entrant in the business, or if the area is already full of competitors. So, location is an important factor when starting a business. Admittedly, in Kansas, there are four important places of rafting. They are Elk Falls, Kansas River close to Lawrence, Kansas River below 1-435 Bridge, and Pool Creek Butcher Falls. Similarly, Texas offers rafting in...
3 Pages(750 words)Essay

Location, location, location

...conditions that a software company requires to operate optimally and become successful (Brun, 2007). The three locations seem to fulfill requirements that make a software company, including close proximity to computer-manufacturing industries and their subsidiaries, available and sound connectivity to the global network, vast educational resources, and a well-endowed communication system that encompasses the globe. The US has numerous educational resources that specialize on software development, include excellent institutions and research centers such as the Microsoft, Google, and Yahoo laboratories. Additionally, the US has a large high-skill labor force that the software company...
2 Pages(500 words)Essay

Favorite location

...feet sunk in the soft velvety sand time and again. Ocean City offers plenty of beach space and room to all the visitors, so that they may spread around, relax and really enjoy the ocean. Ocean City, Maryland, is a place that has something to offer to a person of any temperament, inclination and preference. Located at just three miles from the Ocean City, Maryland boardwalk is a perfect place to take a soothing walk or an energetic run, or to simply relax as the time glides past unnoticed and unregistered. Not to mention that it is actually at night that the boardwalk really comes to life with a plethora of interesting engagements like acrobatic performers, rides and arcades. No wonder, at night,...
3 Pages(750 words)Essay

Boundary Location

...to determine true boundaries of these regions. This will assist me in coming up with the best approach. Conclusion This paper has highlighted different issues relation to location of lot 12 and 13. It must be noted that lot 12 and 13 has been put in place in accordance to laws that pertain to land. When allocation of boundaries is done in accordance to land laws, conflict will be avoided. References Anderson, R. An Introduction to Management Science: Quantitative Approaches to Decision Making, Cengage Learning, 2011 Bowden, G, SURVEY LAW 1, 2013 Conrow, H. Effective risk management: some keys to success, AIAA, 2003 Gonzales, D. A Look at the 2nd Amendment: To Keep and Bear Arms,...
2 Pages(500 words)Assignment

Facility location strategies

...all the customers. The process of finding the ideal place to locate a facility can be tricky. However, a number of methods have been used and they have proved successful. These methods include weighted load-distance method, centre of gravity, linear programming, weighted scores and break-even analysis (Suresh, 2009). This report will focus on using the weighted average method to locate the best place to put up a European facility for a US automobile company. The report took a number of location factors, which include location, geography, transportation, proximity to customers and the relative costs of supplying the goods to these destinations. In...
3 Pages(750 words)Case Study

Location, location, location

...protection – this is achieved through the utilization of multiple controls and features aimed at restricting access. Reduced processing time – the availability of antivirus and antispyware in computers commonly slows the speed of the machines. Centralization of the protections eliminates this problem as control in conducted from a different location Updating – the process of updating security system becomes simplified as a single individual performs these functions Disadvantages of network security Internet accessibility – this remains the major problems with the network security which can be accessed through the internet. The element of accessibility makes the network security increasingly susceptible to virus and...
5 Pages(1250 words)Admission/Application Essay

Bar Location

...Factors to Consider When Choosing a New Bar Location In real e location is one of the most important rules and should be strictly adhered to. As a potential bar owner, he or she must choose a location that fits into the patrons and the business to be able to meet the goals. It is important to note that not every space that comes along serves the right purpose, what this means is, not every space is right for a bar. A good bar location is not easy to locate, and the best locations are always expensive. Cost is an important factor because, as an entrepreneur who hopes to start a bar, you get what you pay for. Therefore, there is a need for...
4 Pages(1000 words)Essay
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Essay on topic The three keys to success in retailing are location, location, location for FREE!

Contact Us