Blakgirl78,

I'd guess there are a lot more then 3 factors, and they are all important for several reasons:

The more you know about your customers, where they are, where they travel, how they travel, how they buy, how they return stuff, how old they are, what kind of music they like or dislike, what they eat, how much spendable money do they have, etc will all affect how you advertise, how you set credit and return policies, how you stock and display, what hours you are open, where you set your store, even how you want your employees to dress and act.

Hope this helps.

Good Luck!

Source: http://www.abusinessmentor.com