State the fundamental objective of a firm's location strategy. How is this basic objective carried out by industrial or goods-producing firms; how does that differ for service firms? Answer in a clear, convincing paragraph.

The fundamental objective is to maximize the benefit of location to the firm. For industrial location decisions, the focus is frequently on minimizing cost, because cost often varies dramatically from one location to another. Service location decisions focus on maximizing revenues. Service location alternatives may vary little in cost, but have dramatic differences in revenue or volume, because of differences in population, income, traffic count, or other variables.