Method for analyzing net demand for a market area utilizing weighted bands

• US 7,412,398 B1
• Filed: 09/17/2001
• Issued: 08/12/2008
• Est. Priority Date: 06/12/1997
• Status: Expired due to Fees

• Current Assignee: Bailey G. William
• Original Assignee: Bailey G. William
• Inventors: Bailey, G. William
• Primary Examiner(s): Jarrett, Scott L
• Application Number:
  US09/953,156
• Time in Patent Office: 2,521 Days
• Field of Search: None
• US Class Current: 705/7.31
• CPC Class Codes: G06Q 10/06375 Prediction of business process outcome or impact based on a proposed change
• 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 30/0206 Price or cost determination based on market factors
• CPC Class Codes: G06T 17/05 Geographic models

Abstract

After defining a relevant market area around a selected geographical point, a map is generated using stored geographical map information around a selected geographical point and a geographical area is selected around that point. Multiple bands are formed on the map around the geographical point and market information is gathered from a database for the defined geographical area. The bands are weighted based according to empirical data drawn from within the market area, if available, or from data from a demographically matched location. A net demand model is constructed to perform point studies, comparison studies, area studies, and multi-unit simulations for the selected geographical area.

Claims

1. A method for analyzing a market area, the method comprising:

defining the market area using a plurality of bands;

weighting the plurality of bands according to a market-related factor including weighting the data within the market area and applying individual weights to the plurality of bands;

applying a net demand model to the plurality of weighted bands;

generating a result corresponding to the net demand model; and

storing the result,

wherein the result is an indicator of the market.

2. The method of claim 1, further includes:

clustering the plurality of bands to form a smaller number of bands, and wherein weighting the plurality of bands includes weighting the smaller number of bands using weights that are empirically derived from data within the market area.

3. The method of claim 1, wherein generating the result, includes:

generating at least one of a demand, supply, net demand, breakeven, maximum initial daily rate, and price elasticity of demand result.

4. The method of claim 1, further includes:

validating the result.

5. The method of claim 1, wherein the market area is defined using travel time.