The market is a very competitive environment. This is possible in countries where companies have the facilities to choose their path based, to a large extent, on their own decisions and resources. In general, in very competitive areas, interactions can be reminiscent of a conflagration. This is because every day that passes, companies must resort to tasks typical of armies, such as a clear hierarchical order, a strategy carefully taken care of in detail and the sense of ensuring survival over time.
Market Research is a set of knowledge and disciplines. These are highly appreciated by brands because they are aware that they must not stop their growth plans for a second. In case of carelessness, other participants could take advantage of the gap and pass over you almost without hesitation. Geomarketing is a powerful strategic tool. Therefore, today we list four Market Geography tactics that your company can make your own.
Distribution. Supply chains are a valuable element in the midst of a conflict that unites the efforts of warring parties. If supply fails and is prolonged over time, it can result in capitulation. The same goes for brands. Geography and marketing analysts can cross layers of information on terrain and road layout in order to maximize the efficiency of your logistics fleets. The latter is just one example of this function.
Densities. Although the space gained is almost always welcome, there are territories more valuable than others. The more people live in a given area, the more profitable it can be in various scenarios. Succeeding in places where more people with the characteristics of your target consumer live is a strategy that many managers long to achieve and maintain. In these environments, geographic analysis is more than welcome.
Patterns. Whether we focus on people, competition, or external elements of interest, patterns of location of points, routes, and polygons can be discovered. Thanks to their professional training, market analysts with a specialty in Geomarketing can find the variables that are repeated in a set of data and compare them with other aspects of your brand.
Representation. It may seem like a kindergarten no-brainer, but visualizing databases through spatial models known as maps is a powerful tool. In this type of document, different variables can be compared and superimposed in order to make comparisons and identify cause-and-effect relationships that can take your decision-making to the next level.
A requirement for carrying out the tasks described above is mandatory georeferenced inputs. In the event that you do not have this raw material, researchers in Geography can advise you on adding location attributes. For this reason, we suggest that all the data you can generate or consume have variables such as longitude and latitude at least.
At Acertiva we have more than twenty years of working on Market Research projects. Thanks to our team of analysts and strategic partners, we can provide you with knowledge of LATAM consumers and brands. If you have a market research project in the works, get in touch with us. We will respond with the way in which together we can make your next success story a reality.
Short Link: