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Market Development <br />The commercial areas of Portage Avenue have many strong <br />businesses however nearby vacant or underutilized properties <br />threaten the vitality of those businesses. The first steps in <br />improving these markets is the general clean-up recommended <br />previously. The next step is to solidify the image of the business <br />nodes. <br />Successful neighborhood shopping nodes offer the "critical <br />mass" of stores and services necessary to attract busy <br />consumers. When choosing among different shopping areas, <br />consumers select the destination that offers an opportunity to <br />complete multiple tasks quickly. That thought process explains <br />the popularity of planned shopping centers with their store <br />variety. Commercial corridors, like Portage Avenue that compete <br />successfully with shopping centers win the consumers' choice <br />contest because they not only offer store variety, they also are <br />closer to home and work. To succeed, Potage Avenue first <br />needs to recruit additional businesses that are compatible with <br />the area residents' convenience shopping needs. The <br />recruitment strategy that follows seeks to make a quick impact <br />by assisting in the location of new tenants for vacant buildings <br />and developers for vacant land. <br />The initial role of the Steering Committee is providing information <br />that eases marketing of the area to potential businesses and <br />communicating with all stakeholders. At the same time, the <br />Steering Committee needs to work with existing neighborhood <br />organizations and institutions to invite nearby residents to take <br />"ownership" of their shopping node. That ownership may come <br />with festivals and fundraisers associated with neighborhood <br />initiatives. It may also develop through more traditional <br />marketing like coupons and advertising. Ultimately, <br />neighborhood business node marketing must integrate <br />advertising, events, promotion, banners, signs and everything <br />else that gives the area visibility. <br />This Development Action Plan recognizes the dual nature of its <br />efforts —simultaneously marketing both to customers and to new <br />businesses. <br />Portage Avenue Corridor Revitalization Plan October 1999 Page 28 <br />