Market Area Profiles
Help your community know and grow its customer base.
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What is a Market Area Profile?
A Market Area Profile (MAP) organizes data from consumer and business surveys and other secondary data sources into a comprehensive description of those who shop in and visit your community — their demographics, purchasing power, lifestyles, information sources and values.
Extension organizes this data into easy-to-understand reports and leads discussions about the learning. The information stimulates a plan for businesses and the community to proactively meet the needs of customers and tap opportunities to increase revenue.
What information does a community get with a Market Area Profile?The MAP includes a breadth of information of interest to local retailers, tourism businesses and community leaders, including:
- The geographic reach of the community's trade area
- Types of customers in the trade area
- Demographics and income levels of households in the trade area
- Estimates of consumer spending to identify gaps in trade area
How can businesses and communities use Market Area Profiles?Chambers of commerce, economic development professionals, tourism organizations, local businesses, and elected officials can use this information to answer questions such as:
- What other businesses might succeed in our community?
- How can we effectively use media to market our community or business?
- Do I have a viable business plan for our market?
- How might we change our inventory or expand our product lines to increase profits?
- What community events or festivals would attract our trade area's customers?
- What main street or tourism development strategies would work for our market?
What does a Market Area Profile include?
- Market information directly from local consumers and business surveys
- An analysis customized to your customer base
- A discussion with your community about results and future plans
- Two consultations with a local study group to guide the analysis
- Costs $1,500 – $4,000
Your Extension educator will help you decide on an approach to best analyze your community's trade area.