What are Location Studies?
- Content Type:
- Glossary
Location Studies Definition
Research to help identify the best intersection or property for a retail outlet.
Location studies in marketing research are investigations that analyze the geographic, demographic and economic characteristics of specific areas to determine their suitability for business activities such as store placement, service expansion or targeted marketing efforts.
What are key characteristics of location studies?
- Focus on geographic and demographic factors.
- Assess population size, density and composition.
- Analyze economic activity, competition and infrastructure.
- May include traffic patterns, accessibility and visibility.
- Use both primary and secondary data sources.
- Often supported by geographic information systems mapping.
Why are location studies important in market research?
Location studies are important because they help businesses identify optimal sites for operations, understand local market potential and minimize risks associated with poor location choices.
Who relies on location studies as they pertain to marketing research?
Retailers, franchise owners, real estate developers, urban planners, marketing strategists, hospitality businesses and service providers rely on location studies for expansion and site selection decisions.
How do market researchers use location studies?
Market researchers use location studies to evaluate potential markets, select store or service locations, tailor marketing campaigns to local demographics and forecast sales potential based on geographic and environmental factors.