TO MARKET, TO MARKETSubmitted by John C Melaniphy III on Sat, 11/21/2009 - 20:54
Originally published in Pizza Today, August 1988
Getting necessary marketing information and data entails the the use of four primary elements. The first is knowing what to get, the second knowing where to get it, the third getting it, and the fourth knowing what to do with it once you've got it.
Collecting and evaluating data needs to be done within the context of the previous Site Selection articles found in Pizza Today. These include: Understanding the Importance of Location, Recognizing the Principles of Location Selection, Knowing Your Customer Profile, Understanding Your Trading Area, Recognizing Different Types of Locations, and Understanding the Need for Accurate Demographic Data.
What to Get
Most food operators recognize the factors that affect the sales potential of a location including population, income, employment, competition, accessibility, and other factors. Where to get the information can be perplexing. The Reference Table included presents a list of the items, usually available, that can help in evaluating market opportunities. Often, it is not necessary to obtain and study all of the items listed. Instead, they represent sources for different types of data, which can be helpful in deciding what is beneficial to you in your own situation. Let's look at the key elements.