Consider the words May 2022 — Think about both the actual words used by the participants and the meanings of those words. A variety of words and phrases will be used and the analyst will need to determine the degree of similarity between these responses. Consider the context Participant responses were triggered by a stimulus […]
May 2022 — Focus group interviews can yield powerful information. In order to get meaningful information during focus groups, you should follow several important guidelines when developing your questions. 1. Use open-ended questions Open-ended questions allow for qualitative feedback from participants and do not have fixed responses or elicit one word answers. 2. Avoid dichotomous […]
Hotels provide an important service to our communities and represent a significant economic engine for jobs, business revenue, and taxes. Plus, they often serve as a gateway to a community, influencing perceptions of the broader community.
May 2022 — While hiring a consultant to complete a market analysis might be appropriate for some communities, the approach of this toolbox is based on the premise that business and community leaders will benefit by being actively involved in the research process. Because there are technical components to the toolbox (obtaining data and using […]
This section explains how market analysis data can be used in the various steps of a business recruitment program.
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 — 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 […]