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A reputed bank in the UAE was considering two potentially good locations ‘A’ and ‘B’ for starting a new retail branch. But they were not comfortable deciding purely on intuition and decided to use the factor rating method to objectively support it. They saw the following factors as relevant for the success of any retail branch. Based on a study, they identified the relative importance of each of the factors listed below. The scores obtained on a 1-10 rating scale for both the locations are also provided in the table below. Based on your calculation, determine which location the bank should go for and why.
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Relative Importance |
Score – location ‘A’ |
Score – location ‘B |
|
Accessibility |
0.35 |
8.0 |
7.0 |
|
Neighborhood Income |
0.25 |
5.0 |
7.0 |
|
Cost of property |
0.10 |
3.0 |
6.0 |
|
High Traffic |
0.15 |
5.0 |
8.0 |
|
Scope for expansion |
0.15 |
8.0 |
8.0 |
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