Systems and methods for generating and using trade areas
a technology of trade area and system, applied in the direction of knowledge representation, pulse technique, instruments, etc., can solve the problems of high unconstructed and therefore subjective, increased potential for inconsistency and error, and circle market area is not a particularly good reflection of the actual retail environment for most retail businesses
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[0026]The preferred embodiment includes methods and systems for developing market areas. The market areas are determined using a combination of deterministic and probabilistic methodologies. Using the approach to be described, an area can be defined around each physical location. This area can be used to determine market penetration, targeted marketing and location usage.
[0027]In the preferred embodiment, a business has a plurality of locations with local representatives, or branches, each with different geographic locations. The branches may all provide substantially similar services or may provide different levels of service to customers. Often competitors are similarly situated with branches at different geographic locations. In the preferred embodiment, the business is a bank and the branches are bank branches.
[0028]With reference to FIG. 1, the bank preferably maintains records of the locations of its branches in a database, such as a relational database 65. This database may b...
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