Analysis of Financial Service Locations in Kumanovo, North Macedonia

Abstract

Providing insight on facility locations can have an influence on processes within the firm concerned with customer satisfaction and new site selection. If done correctly, it provides access to the best customers and the greatest market potential. This paper gives an analytical overview of the placement of financial entities on the territory of municipality of Kumanovo, North Macedonia (MK). The main focus is set on analyzing population clustering and the relationship between the population and facility locations. This enables educated recommendations for new or relocation facility sites. Furthermore, providing easy access to services improves customer satisfaction and service quality. In this direction, we analyzed the distance to nearest parking facilities, as one of the main factors influencing ease of access. The results of this paper provide the basis for future analysis of financial entity locations.