Entrepreneurs have no choice but to appreciate the correlation that exists between time and place.
Regardless of the types of purchases that consumers intend to make, their decisions are affected and influenced by what appears to be most convenient for them. The deliberate action to make a business convenient to customers serves to intensify their wants. Simply put, if it is convenient to purchase your household shopping at a certain store then you will buy more. The prudent entrepreneur will therefore make an effort to create a situation that will make his/her business appear convenient to customers.
The concept of convenience is such that lots of time is saved. Given that there is only a certain amount of time per day, i.e. 24 hours, the busy lifestyle of today attaches lots of importance to time saving. An entrepreneur manages to save time for the consumer by introducing convenience and in so doing encourages the consumer to make more or bigger purchases.
Unlike in the past, more and more people are growing used to the habit of obtaining what they need by making very little effort. When we are caught up in situations where we are pressed for time and are unable to find the exact goods or services that we require, we opt to purchase substitute products. There are a number of business types that have flourished as a result of cashing in on people' time limitations. Fast food outlets fall in this category of businesses. They are conveniently located in the vicinity of many people's work places and as a consequence they end up selling huge amounts of food compared to restaurants and hotels located slightly further away.
Convenience and time have also been fundamental to the growth that has been experienced across many industries. Smaller establishments have really enjoyed much success thanks to the fact that they have the ability to offer goods and services to their customers faster than larger companies can. While it is important for a business to have the right goods and services for sale and a winning image to go with these, if consumers cannot easily access the same the business will certainly not perform to expectations.