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Specific geographic region surrounding a particular location
- A trade area refers to a specific geographic region surrounding a particular location, such as a store or business establishment. It represents the area from which customers are most likely to come and where businesses can attract the majority of their sales.
www.plotr.com/blog/what-is-a-trade-areaUnderstanding Trade Areas: Definition, Importance, and Analysis
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- Type of Trade Area
- What Is Trade Area Analysis?
- What Is A Free Trade area?
- Video – What Is A Trade area?
In the retail sector, there are two main types of trade areas: – Local Convenience Trade Areas:these are based on ease of access. People will purchase such products as groceries or gasoline (UK: petrol) based on how far or how long they have to travel. – Comparison Trade Areas:these are based on quality, selection, style and price. People are more ...
A trade area analysis shows where a company’s customers live in relation to its existing business sites, or sites that are planned for the future. The analysis compares the number of customers by distance from a business’ site to the total number of households in the study area. The pace of regional trade deal-making has been accelerating since the...
The OECD (Organization for Economic Development and Co-operation)defines a Free Trade Area as a grouping of nations within which trade barriers have been abolished – export/import tariffs and quotas have been eliminated. The European Union (EU), the European Free Trade Association, and United States-Mexico-Canada Agreement (USMCA – formerly called ...
This interesting video presentation, from our sister channel in YouTube – Marketing Business Network, explains what a ‘Trade Area’is using simple and easy-to-understand language and examples.
In community economic development, a trade area is a geographic area from which a community generates the majority of its customers. Sometimes a community may have more than one trade area (such as a convenience and a destination trade area).
Aug 15, 2024 · What is trade area analysis? Trade area analysis is a process that involves studying the economic activity in a certain area. Businesses usually perform trade area analysis to determine the most advantageous areas for new store locations. Trade area analysis usually focuses on five factors:
Aug 28, 2024 · A free trade area is a region in which several countries sign a free trade agreement and maintain little to no barriers to trade in the form of tariffs or quotas among one another. Free...
May 6, 2016 · The OECD defines a free trade area as a group of “countries within which tariffs and non-tariff trade barriers between the members are generally abolished but with no common trade policy toward non-members”.
Apr 23, 2024 · Trade area analysis is the process of studying the geographic area around a business to understand its customers. This includes factors like consumer demographics, spending habits, and competitors. By understanding the trade area, professionals can make better decisions about things like business expansion, marketing, inventory, etc.
