Market determination system

• US 20050246222A1
• Filed: 04/21/2005
• Published: 11/03/2005
• Est. Priority Date: 06/12/1997
• Status: Active Grant

• Current Assignee: Bailey G. William
• Original Assignee: Bailey G. William
• Inventors: Bailey, G. William
• Granted Patent: US 7,516,085 B2
• Time in Patent Office: Days
• US Class Current: 705/10
• CPC Class Codes: G06Q 10/06315 Needs-based resource requirements planning or analysis
• CPC Class Codes: G06Q 30/02 Marketing; Price estimation or determination; Fundraising
• CPC Class Codes: G06Q 30/0202 Market predictions or forecasting for commercial activities
• CPC Class Codes: G06Q 30/0205 Location or geographical consideration
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06T 17/05 Geographic models

Abstract

A market analysis system uses travel time to define a relevant market area. A map is generated using stored geographical map information around a selected geographical point or area, and a travel time around the geographical point or area is selected. A trace is formed on the map around the geographical point within the travel time using travel time data, and market information is gathered from a database for the defined geographical area.

Claims

1-24. -24. (canceled)

25. A data processor implemented method for determining a demand for at least one business located in a market area, the method comprising:

receiving a location input for the at least one business;

calculating a plurality of travel time traces around at least one business location using at least one geographical information system database;

determining a number of potential customers within each of the plurality of travel time traces using at least one demographic information database;

weighting the number of potential customers in the travel time traces; and

determining the demand for the business using the weighted numbers of potential customers using the data processor.

26. The method of claim 25 further comprising determining a supply for the business in the market area.

27. The method of claim 26 further comprising determining a net demand for the business using the determined demand and the supply for the business.

28. A system for determining a demand for at least one business located in a market area, the system comprising:

means for receiving a location input for the at least one business;

means for calculating a plurality of travel time traces around at least one business location using at least one geographical information system database;

means for determining a number of potential customers within each of the plurality of travel time traces using at least one demographic information database;

means for weighting the number of potential customers in the travel time traces; and

means for determining the demand for the business using the weighted number of potential customers.

29. The system of claim 28 further comprising means for determining a supply for the business in the market area.

30. The system of claim 29 further comprising means for determining a net demand for the business using the determined demand and the supply for the business.

31. A system for determining a demand for at least one business in a market area, the system comprising:

a user interface module for receiving a location input for the at least one business;

a travel time module for calculating a plurality of travel time traces around at least one business location using at least one geographic information database; and

a processing module for;

determining a number of potential customers within each of the plurality of travel time traces using at least one demographic information system database comprising at least census data,

weighting the number of potential customers with travel time traces, and

determining the demand for the business using at least the weighted numbers of potential customers.

32. The system of claim 31, wherein the processing module accesses competition supply data to determine a supply for the business in the market area.

33. The system of claim 32, wherein the processing module modifies the supply for the business in the market area by applying a supply model to the supply for the business.

34. The system of claim 31, wherein the processing module uses demographic characteristics data to determine the demand for the business.

35. The system of claim 34, wherein the processing module modifies the demand for the business in the market area by applying a demand model to the demand for the business.

36. The system of claim 33, wherein the processing module determines a net demand for the business based on at least the demand and the supply for the business.

37. A data processor implemented method for determining a demand for a product or service within a plurality of census units located in a market area, the method comprising:

receiving a location input for at least one business offering the product or service;

calculating a plurality of travel time traces around at least one business location using at least one geographical information system database;

determining a number of potential customers within each of the plurality of census units by using at least one demographic information database;

weighting the number of potential customers in the travel time traces to generate a weighted number of potential customers within each of the plurality of census units; and

determining the demand within each of the plurality of census units for at least one product or service offered by the business using the weighted numbers of potential customers within each of the plurality of census units using the data processor.

38. A data processor implemented method for determining a demand for a product or service within a plurality of census units located within a market area, the method comprising:

receiving a location input for at least one business offering the product or service;

calculating a plurality of travel time traces around at least one business location using at least one geographical information system database;

determining a number of potential customers within each of the plurality of census units using at least one demographic information database;

weighting the number of potential customers in the travel time traces within each of the plurality of census units; and

determining the demand for the product or service offered by the business using the weighted numbers of potential customers within each of the plurality of census units using the data processor.

39. A system for determining a demand for a product or service within a plurality of census units located within a market area, the system comprising:

means for receiving a location input for at least one business offering the product or service;

means for calculating a plurality of travel time traces using at least one geographical information system database;

means for determining a number of potential customers within each of the plurality of census units using at least one demographic information database;

means for weighting the number of potential customers in the travel time traces to generate a weighted number of potential customers within each of the plurality of census units; and

means for determining the demand within each of the plurality of census units for at least one product or service offered by the business using the weighted numbers of potential customers within each of the plurality of census units.

40. A processor implemented method in a geographic information system for selecting a site for a business, comprising:

receiving at least one travel time value representing time to travel to or from the site to a plurality of locations corresponding to a set of potential customers;

determining a market area corresponding to the at least one travel time value using a geographic information system;

retrieving demand data from at least one database for the set of potential customers located within the market area;

determining a demand correction factor by sampling demand data from within the market area;

determining a demand for the product or service offered by the business using the demand correction factor; and

using the processor, determining a net demand for the product or service offered by the business by processing the demand and a supply of the product or service offered by the business.

41. The method of claim 40 further comprising determining a supply correction factor by sampling supply data from within the market area.

42. The method of claim 41, wherein determining the net demand further comprises determining a modified supply for the product or service offered by the business using the supply correction factor.

43. The method of claim 42 further comprising determining a net demand for the product or service offered by the business by processing the demand and the modified supply.

44. The method of claim 40, wherein the demand data relates to at least one of demographic characteristics and housing values of the set of potential customers located within the market area.

45. A geographic information system for selecting a site for a business, comprising:

means for receiving at least one travel time value representing time to travel to or from a site corresponding to the business to a plurality of locations corresponding to a set of potential customers located near the site;

means for determining a market area corresponding to the at least one travel time value using at least one geographic information system;

means for retrieving demand data from at least one database for the set of potential customers located within the market area;

means for determining a demand correction factor by sampling demand data from within the market area;

means for determining a demand for the product or service offered by the business using the demand correction factor; and

means for determining the net demand for the product or service offered by the business by processing the demand and a supply of the product or service offered by the business.

46. The system of claim 45 further comprising means for determining a supply correction factor by sampling supply data from within the market area.

47. The system of claim 46, wherein means for determining the net demand further comprises means for determining a modified supply for the product or service offered by the business using the supply correction factor.

48. The system of claim 47 further comprising means for determining a net demand for the product or service offered by the business by processing the demand and the modified supply.

49. The system of claim 45, wherein the demand data relates to at least one of demographic characteristics and housing values of the set of potential customers located within the market area.

50. A computer-readable medium containing instructions, when executed by a processor, for performing a method for selecting a site for a business, the method comprising:

receiving at least one travel time value representing time to travel to or from the site to a plurality of locations corresponding to a set of potential customers;

determining a market area corresponding to the at least one travel time value using at least one geographic information system;

retrieving demand data from at least one database for the set of potential customers located within the market area;

determining a demand correction factor by sampling demand data from within the market area;

determining a demand for the product or service offered by the business using the demand correction factor; and

using the processor, determining a net demand for the product or service offered by the business by processing the demand and a supply of the product or service offered by the business.

51. The computer-readable medium of claim 50 further comprising determining a supply correction factor by sampling supply data from within the market area.

52. The computer-readable medium of claim 51, wherein determining the net demand further comprises determining a modified supply for the product or service offered by the business using the supply correction factor.

53. The computer-readable medium of claim 52 further comprising determining a net demand for the product or service offered by the business by processing the demand and the modified supply.

54. The computer-readable medium of claim 50, wherein the demand data relates to at least one of demographic characteristics and housing values of the set of potential customers located within the market area.

55. An apparatus for determining a net demand for a product or service offered by a business, the apparatus comprising:

a geographic information system module for enabling a user to select a geographic point on a map and provide a travel time value;

a travel time module for generating a travel time trace around the selected point on the map based on the travel time value, wherein the travel time trace represents a market area around the selected point; and

a processing module for retrieving demand data from at least one database for a set of potential customers located within the market area, determining a demand correction factor by sampling demand data from within the market area, determining a demand for the product or service offered by the business using the demand correction factor, and determining the net demand for the product or service offered by the business by processing the demand and a supply of the product or service offered by the business.

56. The apparatus of claim 55, wherein the processing module is further configured to determine a supply correction factor by sampling supply data from within the market area.

57. The apparatus of claim 56, wherein the processing module is further configured to determine a modified supply for the product or service offered by the business using the supply correction factor.

58. The apparatus of claim 57, wherein the processing module is further configured to determine the net demand for the product or service offered by the business by processing the demand and the modified supply.

59. The apparatus of claim 55, wherein the demand data relates to at least one of demographic characteristics and housing values of the set of potential customers located within the market area.