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The importance of context in store forecasting: the site visit in retail location decision-making

The importance of context in store forecasting: the site visit in retail location decision-making
The importance of context in store forecasting: the site visit in retail location decision-making
The aim of this paper is to investigate how practical store location decision-making balances formal modelling with the less well-studied informal qualitative inputs. By using case studies from one major UK food retailer, we find that informal knowledge has to be considered seriously alongside quantitative models despite the inclusion of such knowledge often proving challenging. In particular, the site visit has a key role in contextualising factors that are difficult to represent in formal 'modelled' data, and in calibrating the inputs to models that are becoming increasingly advanced. We conclude that conceptualising the role of knowledge management in retail store decision-making has been under-theorised but can offer a key to advancing our understanding of this process still further.
0967-3237
139-155
Wood, Steve
c21cde08-332e-4002-93e2-aad09a7f4ea9
Tasker, Andrew
0ca4ae9d-97b8-4a62-b49c-d20357421def
Wood, Steve
c21cde08-332e-4002-93e2-aad09a7f4ea9
Tasker, Andrew
0ca4ae9d-97b8-4a62-b49c-d20357421def

Wood, Steve and Tasker, Andrew (2008) The importance of context in store forecasting: the site visit in retail location decision-making. Journal of Targeting, Measurement and Analysis for Marketing, 16 (2), 139-155. (doi:10.1057/jt.2008.3).

Record type: Article

Abstract

The aim of this paper is to investigate how practical store location decision-making balances formal modelling with the less well-studied informal qualitative inputs. By using case studies from one major UK food retailer, we find that informal knowledge has to be considered seriously alongside quantitative models despite the inclusion of such knowledge often proving challenging. In particular, the site visit has a key role in contextualising factors that are difficult to represent in formal 'modelled' data, and in calibrating the inputs to models that are becoming increasingly advanced. We conclude that conceptualising the role of knowledge management in retail store decision-making has been under-theorised but can offer a key to advancing our understanding of this process still further.

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Published date: March 2008

Identifiers

Local EPrints ID: 178223
URI: http://eprints.soton.ac.uk/id/eprint/178223
ISSN: 0967-3237
PURE UUID: f9060ec2-9744-4858-a551-ac833c526b8b

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Date deposited: 24 Mar 2011 08:41
Last modified: 14 Mar 2024 02:45

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Contributors

Author: Steve Wood
Author: Andrew Tasker

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