Range of a market area (include examples)
Need 2 pieces of info. Its RANGE contributes to finding extent of market area (ALSO threshold)
The range is the max distance people are willing to travel to use a service. The range is the radius of the circle drawn to delineate a service's market area.
People are only willing to go short distances for every day services ( grocery shopping, pharmacies) But will travel longer for other services (concerts, professional football) SO a convenience store has a small range whereas a stadium had a large range. In large urban setting the range of fast food (MCs) is roughly 3 miles. The range of a causal dining chain (stean n shake) is 5 miles. and range of a stadium is 60 miles.