Market potential and Geomarketing
Market Potential
Evaluation of a product, service or store potential by assessing:
- Socioeconomic and demographic profile of current and potential clients
- Degree of attractiveness and willingness to purchase
- Degree of knowledge and satisfaction with the studied product, service or brand
Geomarketing
Evaluating the market potential of a geographic area for opening a new business or an existing business area, by assessing:
- Population concentration and growth of selected area
- Income growth rate
- Presence of traffic generating hubs, access road mapping, etc.
Methodologies