SC = X3* 20% + X3* 30% where,
SC - supply capacity
X3 - the number of other veterinary practices
DG = (X2/X1)*X5 + (X2/X1)*X4 - SC where,
DG - demand gap
X2 - population income levels
X1 - Size of Randolph County
X2 / X1 = Average income per individual in Randolph County
X5 - number of the population that owns food animal
X4 - number of population that owns pets
After determining the demand gap and if this one turns out to be positive, the entrant has to determine the location strategy. Generally, the practice should be close to the client, but if the clients are randomly spread across the territory, there are some location models that could help the company serve an optimal level of clients. Thus, if the competitors are equally...
If the competitors are concentrated near a place with higher population density, it makes sense for an entrant to approach client on the other side of the territory as they don't have access to the competitors' services. However, the first thing an entrant has to do to determine its future location is to run a market research and see which are the areas with higher demand gaps within the Randolph County and focus on those.
Reference List
BLS - Bureau of Labour Statistics, Accessed June 2007, http://www.bls.gov/oes/current/naics3_541000.htm
WVBEP - West Virginia Bureau of Employment Programs, Accessed June 2006, http://www.wvbep.org/bep/lmi/EW2006/q4/ew06x083.htm
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