As a general term, Geomarketing is the integration of Geographical intelligence into all marketing aspects including sales and distribution. Geomarketing Research is the use of geographic parameters in research methodology starting from sampling, data collection, analysis, and presentation. Geomarketing Services are more related to routing, territorial planning, and site selection whereas the location is the key factor for such disciplines. The core base of Geomarketing is the digital map; it can either make or break the concept. Equally important, though, is the association of data with these maps using some place-based component.
In marketing, geo (also called marketing geography or geomarketing) is a discipline within marketing analysis which uses geolocation (geographic information) in the process of planning and implementation of marketing activities. It can be used in any aspect of the marketing mix – the Product, Price, Promotion, or Place (geo targeting). Market segments can also correlate with location, and this can be useful in targeted marketing. The methodology geomarketing is successfully applied in the financial sector through identifying ATMs traffic generators and creating hotspots maps based on geographical parameters integrated with customer behavior.
Geomarketing has a direct impact on the development of modern trade and the reorganization of retail types. Site selection becomes automated and based on scientific procedures that saves both time and money. Geomarketing uses key facts, a good base map, proper data layers, reliable consumer profiling, and proper success/fail criteria.