Abstract
Geo-marketing is more crucial than ever in today's global markets since it is necessary to seize possibilities like any open niche and stay one step ahead of rivals. The keys to boosting the economy are handling demands effectively and harnessing new potential as a company's turnover. A geo-marketing strategy enables decision-makers to accomplish their target. This study aims to discover the uses and tools of geo-marketing for business analytical tasks. Data were collected from various secondary sources, such as journals, books, websites, etc., using different search engines such as Google Scholar and Scopus. The findings reveal that geo-marketing is helpful for businesses as it helps marketers to discover the areas to target customers and generate traffic. The tools of geo-marketing also allow marketers to reach their audiences.
TopLiterature Review
Ramadani et al. (2017) The effect of geo-marketing on business development and decision-making in Western Macedonia was studied. The information was gathered through surveying 115 businesses in numerous Western Macedonian cities. Structural equation modelling (SEM) was utilised to assess the data. The author came to the conclusion that the influence of geo-marketing on business development is beneficial as long as its determinants have been taken into account and examined during the decision-making process.
Dusek et al. (2019) presented an approach for calculating the source markets for tourism and hospitality that was based on consumer spending data sets and geo-marketing information. The research's findings suggest that this data can be applied to successful management and marketing decision-making processes, particularly for SMEs that make up the bulk of the tourist and hospitality sectors.
Puig et al. (2016) created a geo-marketing model that can be used to plan supermarket placement tactics. Spain's Castellon de la Plana served as the location for data collecting. According to the research, geo-marketing techniques enabled us to analyze incredibly detailed data. Managers can estimate the overall supermarket sales. This model demonstrates how location strategies are influenced by the sociodemographic of the supermarket's trading region.
Zaim et al. (2018) Through targeted promotions, the data was examined using a variety of approaches to improve the shopping experience and customer interactions. The research concludes that a smartphone application uses beacons to determine the customer's location before sending the information to a server application for further processing to produce the necessary results.
In Garcia (2017), according to a study done in Spain, geographical restrictions on new pharmacies significantly reduced their chances of succeeding as retail establishments. In a controlled market with limited area, it is claimed that integrating GIS and AHP Multicriteria decision procedures can lower the risk of starting a new retail firm.
Liborio et al. (2020)
highlighted geo-marketing issue and how the scientific development of geo-marketing studies' methodological components. It demonstrated how the location approach could be duplicated without the use of a GIS and how geo-marketing issues are connected to the marketing theory as long as the location presents itself as a point of connection with the market and its dynamics.
Key Terms in this Chapter
Geomarketing: It is the practice of using location data to identify and serve marketing messages to a highly targeted audience.
Beacons: A gadget that uses Bluetooth to obtain location information from any nearby mobile device. Beacons use Bluetooth technology.
Geotargeting: It provides a more personalized ad experience based on location, interest, behaviours and demographics.
Geofencing: It is a service that causes an action to be taken when a device enters a predetermined area.
Geoconquesting: It’s a technique that uses location data to identify a brand’s competitors to promote a competing or competitive offering to their customers.