Market Analysis

Michelle DeIasi, Development Project Manager of Noah’s Ark Development explains some of the tips and tricks to gathering preliminary information for your market analysis. Michelle reviews the most effective ways to map and plot competition and how to identify your market. She also reveals 3 useful tools to aid you in calculating the size of nearby competitors.
We understand lives get busy and sometimes finishing an entire lesson in one sitting is not an option. You will have 6 full months to view the lesson.

Duration: 21 mins

What’s Covered

  • Overview
    • Defining your market
    • Locating your competitors
    • Estimating the size of your competition
  • Defining Your Market
    • Distance consumers will drive to accomplish their day-to-day activities
    • Average distance increases as you get further from the city
    • Defining the market without demographic information
  • Identifying Your Market Type
    • Primary Market
    • Secondary Market
    • Rural Market
  • Primary Market
    • Metropolitan areas
    • Extend out to a 3 mile radius
    • 100,000+ people within 3 miles
  • Secondary Market
    • Suburban areas
    • Extend out to a 5 mile radius
    • 80,000+ people within 5 miles
  • Rural Market
    • Rural areas
    • Extend to at least a 7 mile radius
    • 30,000+ people within 7 miles
  • Plot Your Competition
    • Identify all your competitors on a map
    • Divide appropriate radius up into 3 radiuses
    • Virtual Research
    • Manual Research
  • Finding Your Competitors
  • Estimating Competitor Sizes