Business Location

• market:


  where those wishing to buy goods/services make contact with those who have them to sell
• proximity to market =

  reaching target market
• labour:


  people whom a business employs or would potentially want to employ
• highly skilled people =


  locate closer to universities/cities
• proximity to raw materials =


  save delivery costs
• bulk gaining materials:

  products that are larger than the raw materials used to produce them
• bulk gaining products = locate closer to...

  market
• proximity to competition:

  -depends on business

  a) be far away so has increased market share of that area

  b) be close by so shoppers can compare
• retail =


  as close to consumer as possible (except online)
• services =


  close to consumer needs (e.g taxi companies)
• manufacturing =


  cheaper rent in outskirts
• infrastructure:

  the facilities that support everyday economic activities
• transport network =


  -staff getting to work easily

  -supplies delivery costs

  -move products to market
• e-commerce:

  business transactions carried out electronically on the internet
• advantages of e-commerce:

  -lower costs

  -flexible working hours

  -access to larger market with potential customers

  -ability to be open 24 hours a day, 7 days a week

  -relatively low price marketing and promotions