Estimating Demand Flashcards
1
Q
What is the Anagram for this topic?
A
DRG BEN
2
Q
D =
A
Direct Household Expenditure Survey of 1m Households Gives monetary estimates of demand Compare with census Regional variation
3
Q
R =
A
Reweighting
Loyalty Cards - can see what people are buying/ where they are coming from/ who they are
Can then combine with Household Expenditure Survey to adjust for your store
4
Q
G =
A
Geodemographics
Classifying an area based on its social characteristics
Can use loyalty data to see what people from each classification spend at your store
Estimate per area
5
Q
B =
A
By Person Type Age Sex Ethnicity Social Class Used for niche marketing e.g. NEXT
6
Q
E =
A
Elasticity
Can effect how you estimate demand:
If its elastic can be harder to estimate
Grocery = both (have to buy food, but amount spent can change)
7
Q
N =
A
New forms of demand: Multipurpose trips - Arentze (2005) Work-place demand Convenience New locations - shops, tourism (Newing et al., 2012), hospitals, stations
8
Q
Arentze (2005) =
A
Importance of considering multi-purpose trips
9
Q
Newing (2012) =
A
Tourist demand - Second homes, Campsites, Seasonality, Hotels.
Uses the Cornwall Example
