Unlocking Market Potential: Locating Your Target Customers
A leading adult diaper brand aimed to enter a new market in Santiago, Chile. By leveraging data the brand embarked on comprehensive market research to assess the size, demographics, and purchasing behavior of the target audience in Santiago.
Challenge: Data-Driven Strategic Planning
Our client is embarking on a new market expansion with a focus on effectively entering and engaging the target audience of adults aged 65 and above. They need to develop a strategic plan that addresses the market potential and establishes a strong market presence.
Our Solution: Location Insights that drive your business decisions
Geoinsight People, a location intelligence technology, helped our client to understand the distribution of people across Chile’s capital city and identify population clusters according to their social, economic, and demographic characteristics. Our approach involved the following steps:
- Data Collection: We sourced comprehensive data sets on social, economic, and demographic factors to gain a holistic understanding of the target audience and their distribution.
- Market Potential Assessment: We quantified the market potential by analyzing the size, demographics, and socio-economic characteristics of the target audience in each identified area.
- Geospatial Analysis: By leveraging geospatial analysis techniques, we examined the data to identify population clusters and areas with a higher concentration of the target audience.
Results: Targeted Market Penetration and Optimal Resource Allocation
With the assistance of Geoinsight People, our client was able to expedite the evaluation of market potential and develop an effective strategy.
- Advertising Optimization: By gaining a comprehensive understanding of the geographic distribution of potential customers, the client was able to intelligently allocate advertising investments, ensuring maximum impact and reach.
- Priority Setting: By identifying demographic patterns, we provided valuable guidance for our customers. This facilitated their swift entry into the market, allowed them to focus their sales force and establish alliances with distributors in the most promising areas, optimizing their efforts.