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- Title
Image Inputs to a Probabilistic Model: Predicting Retail Potential.
- Authors
Stanley, Thomas J.; Sewall, Murphy A.
- Abstract
The article reports on evaluating the potential of prospective retail store locations. The author focuses on an evaluation technique pioneered by David Huff. The probabilistic model developed by Huff uses utility theory and consumer loyalty patterns to estimate how profitable a retail outlet is likely to be. Disutility factors in the mathematical model are represented by physical distances. The author suggests a series of modifications that can be applied to the model. An image measure used to supplement the model is also discussed. Another evaluation technique, known as the "executive checklist" method, uses location-specific factors including population density, traffic flow, and income level to aid decision makers.
- Subjects
STORE location; LOCATION analysis; FACILITY management; RETAIL industry; RETAIL industry costs; CUSTOMER loyalty; UTILITY functions; BRAND loyalty; CONSUMER behavior; PREDICTION models; HUFF, David L.; MATHEMATICAL models
- Publication
Journal of Marketing, 1976, Vol 40, Issue 3, p48
- ISSN
0022-2429
- Publication type
Article
- DOI
10.1177/002224297604000308