In these turbulent times and when doubts paralyze your business plans, it makes more sense to be strategic. Geography has been known since ancient times as a science of kings and soldiers. This statement arises because it makes available to your collaborators a series of tools and methods that result in data and information of enormous value to always be two steps ahead of your adversaries.
At Market Research we know this and for this reason this science is one of the disciplines that contributes the most to brands. Perhaps at first it may seem to you that its usefulness is somewhat anachronistic, but this is because you may still consider it as that subject in school where only countries and capitals are learned. That is why we share with you four topics that studies on this subject provide you with.
Demography. As a social science, Geography knows about the distribution of people in space. In addition, it is interested in characterizing consumers through variables such as age, gender, and socioeconomic and educational levels. Although in many cases the availability of this data depends on official public sources, it is also true that it is possible to collect it for a given sample of a population through quantitative studies.
Competition. Unless you are in a fairly isolated market and in a rural environment, you will have competition in any place where you establish yourself. There are two types of competitors: direct and indirect. The former will offer the same as your brand and will focus their efforts on a similar target consumer. On the contrary, the latter can refer to similar or complementary companies in your segment. Locating both is a goal of the discipline that concerns us today.
Accessibility. A business requires many external aspects that must come from multiple sources. We are talking about resources such as the supply of goods, infrastructure, public services, clients and workers. In the studies of the category you will have the opportunity to list the forms and degree of access of these means in the form of logistics routes, electricity and drinking water supply lines and public transport stations.
Politics. Companies depend on the choice of third parties on sensitive issues. We are talking about authorities and people with de facto powers. To a large extent, the uncertain environment of the last few months was defined by personalities of this category. Reviewing the objectives of countries, their rulers and companies can give you a starting point to define tactical steps in the short term.
It is still impossible to predict the future. Given this reality, we can only work with a margin of uncertainty. The smaller and more well-known the latter is, the more realistic the steps to follow will be. While the horizon clears sufficiently, it is necessary to be more cautious than before when investing. However, we have already mentioned in other entries of this blog that crises are also times of unrepeatable opportunities.
At Acertiva we have overcome and helped our clients overcome doubts in different environments. Over the course of two decades, we have assembled a team of analysts and strategic partners who will help you meet your Market Research needs. Send us a message now to tell us about your upcoming projects in this area in LATAM. We will respond with the way in which together we can make your next success story a reality.
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