DEFINITION

What is Market Research?

Market research is the process of gathering and analyzing information about a specific market to understand its characteristics, trends, and consumer preferences. It involves collecting data on factors such as customer demographics, buying behavior, and market competition. This information helps businesses make informed decisions about their products, marketing strategies, and target audience. Market research can be conducted through various methods, including surveys, interviews, focus groups, and data analysis.

How to Use Mapping Software for Market Research

Geographic Information Systems (GIS) play a crucial role in marketing, offering tangible benefits for businesses. The University of Southern California Spatial Sciences Institute discusses how GIS contributes to marketing success:

Customer Segmentation Based on Location:
GIS allows businesses to segment their customer base based on geographical data. By analyzing location information, companies can identify distinct customer clusters, tailor marketing strategies, and deliver personalized content to specific regions.

Geographically Targeted Digital Advertising:
Leveraging GIS, businesses can precisely target their digital ads to specific geographic areas. Whether it’s promoting a local event, offering discounts at nearby stores, or advertising services in a particular neighborhood, GIS helps optimize ad placement and reach the right audience.

“This system was awesome. I used to use it at a print and mail shop I worked at. We would upload mail lists and select data from the map to target areas for advertising. We also integrated it with custom inhouse software. It was really easy to use as well. If you can use Excel or Word, then you can use this. Just awesome!”

Anthony Amolochitis
Owner, Blamotech LLC

Location-Based Push Notifications:
Mobile apps can use GIS to send location-based push notifications to users. For instance, a retail app can notify customers about nearby store promotions or special deals when they are in proximity to a physical store.
Personalized Recommendations:
GIS-driven algorithms can provide personalized recommendations based on a user’s location. For example, suggesting nearby restaurants, fitness centers, or entertainment venues tailored to individual preferences.
Market Planning and Decision-Making:
Research has shown that GIS and marketing can work together throughout the market planning process. Consumption maps, created using GIS, help identify optimal locations for new supermarkets, restaurants, or other businesses. These insights lead to informed marketing strategies and better decision-making.