Market Analysis Lite de-emphasizes some of the quantitative aspects of traditional, more rigorous market analysis in favor of speed, agility, cost savings, and the ability to get going with the work of revitalization — rather than wait until you know every detail about the local economy.
Market Analysis Lite uses data, but leans heavily on common sense, local knowledge of the existing uses and functions of the commercial district, along with critical interpretation. You can gather and interpret some data yourself, without engaging a professional analyst. And you can gather and analyze information in “chunks,” getting more detailed when needed (such as when a particular development is proposed).
The guide will break-down each component of the process, including:
Trade Area
Population Characteristics
Sales Gap
Business Inventory
Competitive Context
Perceptions and Attitudes
Using Market Data to Define a Transformation Strategy