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Estimating Local Consumer Market Size for Marketing Decision-Making

Author

Listed:
  • Radim Dušek

    (Department of Trade and Tourism, Faculty of Economics, University of South Bohemia, Studentská 13, 370 05 České Budějovice, Czech Republic)

  • Viktor Vojtko

    (Department of Trade and Tourism, Faculty of Economics, University of South Bohemia, Studentská 13, 370 05 České Budějovice, Czech Republic)

  • Jan Šalamoun

    (Department of Trade and Tourism, Faculty of Economics, University of South Bohemia, Studentská 13, 370 05 České Budějovice, Czech Republic)

Abstract

Marketing theory provides a lot of tools and methods for planning and analysis, but their practical use typically requires data that are not easily available, especially for small and medium enterprises (SMEs) operating on smaller local markets. In this study, we present a method that allows SMEs to simply estimate the size and growth trend of a local market in the Czech Republic defined by selected municipalities. The data about total consumer spending in 2011-2016 period were drawn from publicly available sources. We have created maps using the QGIS software with estimates of total consumer spending in all municipalities of the Czech Republic in 2016, total consumer spending in specific local market in 2016 and the average annual growth rate in consumer spending in 2011-2016 as well. It may serve as a guidance for SMEs about where the biggest opportunities and threats in the market size and growth are. The same method has been applied to part of South Bohemia region as a case study whose results could be used for estimation of the same figures about consumer spending.

Suggested Citation

  • Radim Dušek & Viktor Vojtko & Jan Šalamoun, 2018. "Estimating Local Consumer Market Size for Marketing Decision-Making," Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis, Mendel University Press, vol. 66(6), pages 1441-1449.
    • Handle: RePEc:mup:actaun:actaun_2018066061441
    DOI: 10.11118/actaun201866061441
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    References listed on IDEAS

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    1. Johan Wiklund & DEAN Shepherd, 2003. "Knowledge‐based resources, entrepreneurial orientation, and the performance of small and medium‐sized businesses," Strategic Management Journal, Wiley Blackwell, vol. 24(13), pages 1307-1314, December.
    2. Luyao Wang & Hong Fan & Tianren Gong, 2018. "The Consumer Demand Estimating and Purchasing Strategies Optimizing of FMCG Retailers Based on Geographic Methods," Sustainability, MDPI, vol. 10(2), pages 1-17, February.
    3. Touzani, Samir & Van Buskirk, Robert, 2016. "Estimating sales and sales market share from sales rank data for consumer appliances," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 451(C), pages 266-276.
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