You are contemplating to celebrate your kid’s birthday and pondering about venue booking, both convenient and affordable for hosting the event. You open the internet and start searching on your mobile or laptop. Within a short span of time, you are flooded with names of venue, booking facilities, options, choices and budget etc. on your mail and your contact number. The names will sport a rating and small write-ups about the probable choices you can make out of these places. You are baffled - “how on earth these companies know that I am looking for a place?” Do not worry…… there is always a third eye closely watching your movement, interest, spending habit, buying behaviour pattern, your choice, your selection criteria and so on…..the list is endless…and this is what has snatched us from the privacy of our lives. The companies are luring us with their offer and we, the consumers are trying to grab those to satisfy our needs and wants.
In the process, we have coined a new concept termed “Geomarketing” – a different form of marketing concept - using location data to target, advertise and promote products/ services/ offerings to the interested consumers with appropriate messages. The impact has been huge on us, be it searching a florist, a food joint, a retail store and so on and so forth. Geomarketing is an application of GIS components for creating and developing marketing strategies in a single information space to manage spatial distribution of resources. The decision-makers utilise spatial data to introspect and analyse the dynamics and trends in development pattern of the consumers which helps them to predict competitive behavior of the consumers.
In today’s world, the value of Geomarketing has increased in business decision-making. It considers the spatial components which involves the decision-making process- a derivative of marketing having its own unique tools, tasks and goals. Hence, it has become easier for the entrepreneurs to identify new, innovative approaches to meet the never-ending needs of the consumers. The main objective of exercising this geomarketing technique is to establish optimal and profitable relationship with producers on one hand and consumers on the other based on geolocation to maximize the effect.
Dr.Pinaki Ranjan Bhattacharyya