GGR252H5 Lecture Notes - Lecture 3: Voronoi Diagram, Geomarketing, Distance Decay
Document Summary
Is the process of identifying the spatial limits of a market population served by a retail or commercial facility. Refers to the spatial extent (or distribution) of customers around an individual store or a network of stores. Can be viewed as a contiguous area around a store that contains the majority of the customers or potential customers. Aka market area or customer catchment area. Mechanism to identify where are market is coming from and who they are; Note that even though you have a lot of customers, it doesn"t necessarily mean all the customers spend equally or all customers are valued equally. 1 customer spending a month and 10 customers spending. a month are different types of customers, thereby affect the way you measure and delineate markets. People will be willing to travel further for something they deemed to be attractive. Demand vs. supply relationship - where the demand is affects what the trade area looks like.
