The business world is turning to business mapping for comprehensive answers to complex issues. Business mapping (geographical information services) integrates information with geography providing you with visual solutions to the most complex issues.
Dakota utilizes national databases to make technology work to your advantage. For instance:
- Locate your competitors throughout your market, an entire region or the country.
- Display the demographic characteristics of a market to find optimal site location.
- Formulate merchandising strategies by researching the history of demographic trends in your market.
- Analyze your customers shopping habits by locating their home or place of work.
Business mapping is becoming more widely used not only because it provides timely answers and professional presentation materials, it can also be relatively inexpensive. We can analyze the characteristics of an entire metro area or region for a fraction of the cost of traditional research methods. Select a single product or combine two or more.
All maps available in sizes ranging from “A” to “E” (8.5″ x 11″ to 34″ x 44″ and larger).
Customer Origin Studies:
Customer origin studies show where a store’s customers live or work. Identifying the extent of a store’s trade area is just one of many possible benefits. When combined with demographic characteristics, economic profiles can be exposed providing insight into social fences that may be constricting your trade area.
- Understand the extent of your trade area.
- Recognize social fences that block market penetration
- Reduce advertising costs by identifying where your core customers are located.
Customer origin maps display road networks, waterways, the location of the subject store and the home or business address of customers. Additional information, such as zip codes, block groups, etc., can be included based on your requirements.
This type of market analysis identifies “gaps” or opportunities within a specified market area. Through mile ring analysis the client can identify areas with possibilities for development.
This map contains mile rings, city names, the location of competitors, county and state boundaries and major highways. The client determines which competitors and the distance increments they want to review.
Preferred Market Areas:
Preferred market areas visually display areas meeting a specific set of criteria. Population levels, income, and racial attributes are most common, but many different criteria can be set. The map displays preferred markets with mile rings surrounding them. From this, further analysis can be applied to determine the optimal areas for development.
The map contains mile rings, preferred market locations, the location of competitors, county and state boundaries and major highways. The client decides the set of criteria to be reviewed.
Micro Ring Analysis:
Micro ring analysis identifies population based on Census 1990 Block Groups within a specific distance. Also detailed are the surrounding communities and competitors. Distance rings are placed around each competitor and the subject city to show market reach and overlap. From this, population levels and shared market areas can be determined.
The map contains mile rings, city names, the location of competitors, county and state boundaries and major highways. The client determines which competitors and the distance increments they want to review. Also included with this analysis is a volume estimate based on market potential.
Share of Sales:
What are the total sales by county within a state, region or nationwide? Determine market position of a particular wholesaler, retail chain or store within a given geography. By accessing industry databases and integrating the data with our mapping software, complex research can be completed in a timely and economic manner.
Trade are profiles illuminate characteristics of a store’s trade area. When combined with frequent shopper data, these maps can reveal patterns of shopping frequency over distance, transaction amounts per household, response to advertising campaigns, etc.
- Display the extent of the primary trade area based on average weekly sales per HexGrid.
- Target segments of the secondary trade area which exhibit high spending per household.
Communicating this information in a clear and comprehensive format is achieved by segmenting the market into HexGrids. The uniform shape and size of the HexGrids retain the integrity of the trade area delineation, as expressed by the customer spottings.
Spatial analysis rings expose expansion opportunities and disclose the degree of overlap between proposed sites and existing stores. The standard components of a spatial analysis map consist of road networks, waterways, existing stores, proposed sites and corresponding trade area rings. Additional information can be included based on your requirements.
- Focus on your existing stores to identify trade area conflicts with the proposed site.
- Concentrate on all stores to become familiar with the competitive intensity of the market.
- Develop strategies for entering and expanding into a new market.
This straightforward market display is versatile and useful to many departments within an organization. Familiarize yourself with the strategic positioning of all major chains within a market.
The standard components of the retail overview consist of road networks, waterway, existing stores and proposed sites. Additional geographic attributes such as square mile grids, zip codes, census tract and block group boundaries can be overlaid providing a detailed market overview.
This type of analysis illustrates the exposure of the transition zone between locations. These maps are created by establishing half mile grids that are shaded based on the concentration of customers within the grid. Frequent shopper programs can be used to identify trade areas of all stores within a network. Use of color coding displays the primary trade areas of each store in the market area. Consistent size and shape accurately identifies the trade area boundary and exposes the endurance of a store’s market strength.
*American Marketing Association 1996 Award of Excellence – Field of Marketing Research
Dakota Worldwide is constantly innovating and improving methods of visual presentation, making important information easier to understand.