Downtowns and business districts are the commercial hubs of our communities.
May 2022 — Successful downtown revitalization efforts often focus on creating synergy that results from the optimal mix of building and space uses. In considering this purpose, your market analysis will likely have identified a number of market opportunities in different business sectors. However, the market analysis process does not end with a list of […]
May 2022 — A focus group is a carefully planned discussion designed to obtain perceptions of a small group of people about a defined area of interest (e.g., downtown revitalization). Focus groups typically include seven to ten people who have some common characteristics that relate to the topic being discussed and who engage in conversation […]
May 2022 — Economic trends provide important information that describes the health and vitality of the surrounding community and region. This information can help business operators and investors make informed decisions regarding development in the community. The information can also be used to identify potential opportunities for downtown as the central place in the community and […]
April 2022 — Developing a questionnaire includes two things: the individual questions within the questionnaire and the questionnaire itself. We will start with writing individual questions. Writing Good Questions At the most basic level, we have two types of questions: open-ended and closed-ended questions. Open-ended questions allow for qualitative feedback from survey respondents and do not […]
April 2022 — In survey questionnaires, sampling design refers to the strategy or plan to identify to select a sample. Sampling designs fall into two camps, probability, and non-probability-based sampling designs. Probability-based sampling is defined by all potential respondents (i.e., elements) having an equal chance of selection to participate in the sample. The equal chance of […]
April 2022 — There are four basic ways to survey consumers: mail surveys, telephone surveys, web-based surveys, and intercept (or face-to-face) surveys. Mail Surveys Mail surveys (questionnaires) involve printing and distributing questions to consumers via mail. Use a mail survey if you want to collect comprehensive consumer information. You must keep mail surveys short, or […]
This section outlines ways to use your market analysis to support entrepreneurship in your downtown or business district. Entrepreneurship represents the capacity and willingness of an individual(s) to undertake a venture, with its risks, in an effort to achieve a profit. Entrepreneurship has always been important to downtowns and business districts, serving as a catalyst for business formation and its positive ripple-effect in the local economy.
April 2022 — Downtown office space is connected to the success of service businesses, housing, entertainment, and plays an important role in promoting a healthy community where people can live, work, and play. Office space is a significant component of a healthy downtown because it generates employment and daytime activity, which supports other downtown businesses […]
April 2022 — This section provides techniques for identifying market opportunities for selected retail and service retail business categories. It examines business opportunities in terms of number of businesses the market could bear, total sales, and square feet of occupied business space. Other more qualitative and equally important market considerations are also discussed in this […]
April 2022 — Connecting with different communities is a unique opportunity to build networks, celebrate downtown successes, and exchange relevant and effective ideas learned from other places. Peer Community Comparisons are an opportunity to discuss the hopes and needs of each community and learn what was, or will be needed to implement change. These discussions […]
April 2022 — A market analysis should include local survey research to fully understand the uniqueness of your particular market and its consumers. Consumer surveys can provide information on when, where, why, how, and for what people shop, dine, live, work, and recreate. They can reveal attitudes toward your downtown and how those attitudes affect […]
April 2022 — A business owner survey is an important means to engage the business community in the market analysis process. It invites business owners to share their perspectives regarding the current and future economic health of a downtown or other business district. A survey also yields essential information on individual business needs and opportunities–information […]
