Market analysis with Prospex mapping software : Beacon Dodsworth Products

Knowing who your target market is and understanding the lifestyle and habits of people within that target market is key to market analysis...

Where do our customers live in comparison to our outlets?
Where are our competitors located?
What are the demographics of the area?
Where is there most potential for leaflet deliveries?

...we can help with these market analysis tasks and more!

With our market analysis GIS, Prospex, you can map store locations; surrounded by the locations of your competitors, existing customers and potential customers to clearly see your target market. You can:

Find out more about your customers
Find new customers
Predict demand
Open new outlets
Target your advertising

Understand your customers with profiling

The Prospex Profiler allows you to classify your customers into demographic categories within a people classification, such as P² People & Places.

Prospex identifies the similarities in your customers’ characteristics and lifestyles. To analyse their buying habits, cross tabulate Target Group Index (TGI) consumer market survey data. Use this information to tailor your products and marketing to your customers’ requirements.

Take this one step further and find out where people with similar classifications to your customers live so you can expand your customer network by promoting and selling your products to them.

Analyse your customers further

Because different products in your range appeal to different customers, our market analysis software allows you to break down your customers into groups by, for example, geographical location. Customers that travel a long distance to visit your store may be different to those that live nearby and your Scottish customers may not behave in the same way as those in the South East. Sub setting allows you to take this into account so you can target your promotions and sell more appropriately to your different types of customers.

Find new customers and target your advertising towards them

Work out how long your existing customers drive for to reach your store by importing their postcodes into the Drive Time wizard in Prospex. The wizard produces a map showing your store and the catchment area surrounding it. Identify prospective customers within this catchment to target. In addition to the catchment map, Prospex also produces a report outlining which households within your territory match your existing customer profiles, i.e. which households are likely to be interested in your products.

Estimate demand in a new area

Estimating demand in a new sales area is key to establishing whether the business will succeed or fail. Once you have created profiles of your customers, use them to identify how many people in the new area are similar to your existing customers. Prospex calculates the probability of these people buying your products, thus estimating the demand for your business in this area. Compare your customer profiles with the population profiles of new areas to work out which location will generate the most revenue.

Target your advertising

Estimate how long customers are likely to travel to reach your store and then simulate a core ‘advertising’ area around your store. Colour code all the postcode sectors reached in ten, 20 and 30 minutes to display a catchment map banded by drive time. Use this map to target your direct mail to properties within your catchment so advertising spend is not wasted on people out of reach.

Export your drive time catchment into JICREG
to run a readership report on that area.
View the catchment with newspaper
titles overlaid on a map for instant
assessment of the best publications
to advertise in.