# US 7,412,398 B1 · Method for analyzing net demand for a market area utilizing weighted bands

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- Number: US 7,412,398 B1
- Document ID: US7412398B1
- Status: Granted
- Kind: B1
- Application number: 09/953,156
- Filed: 2001-09-17
- Granted: 2008-08-12
- Earliest claimed: 1997-06-12
- Inventors: G. William Bailey
- Web page: https://patentgrep.com/patent/US7412398B1

## CPC

- G06T 17/05: Geographic models
- G06Q 10/06375: {Prediction of business process outcome or impact based on a proposed change}
- G06Q 30/02: Marketing; Price estimation or determination; Fundraising
- G06Q 30/0202: Market predictions or forecasting for commercial activities
- G06Q 30/0205: {based on location or geographical consideration}
- G06Q 30/0206: {Price or cost determination based on market factors}
- G06T: IMAGE DATA PROCESSING OR GENERATION, IN GENERAL
- G06Q: INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR

## Abstract

After defining a relevant market area around a selected geographical point, a map is generated using stored geographical map information around a selected geographical point and a geographical area is selected around that point. Multiple bands are formed on the map around the geographical point and market information is gathered from a database for the defined geographical area. The bands are weighted based according to empirical data drawn from within the market area, if available, or from data from a demographically matched location. A net demand model is constructed to perform point studies, comparison studies, area studies, and multi-unit simulations for the selected geographical area.

## Claims

### Claim 1

A method for analyzing a market area, the method comprising:
defining the market area using a plurality of bands;
weighting the plurality of bands according to a market-related factor including weighting the data within the market area and applying individual weights to the plurality of bands;
applying a net demand model to the plurality of weighted bands;
generating a result corresponding to the net demand model; and
storing the result,
wherein the result is an indicator of the market.

### Claim 2 (depends on 1)

The method of claim 1, further includes:
clustering the plurality of bands to form a smaller number of bands, and wherein weighting the plurality of bands includes weighting the smaller number of bands using weights that are empirically derived from data within the market area.

### Claim 3 (depends on 1)

The method of claim 1, wherein generating the result, includes:
generating at least one of a demand, supply, net demand, breakeven, maximum initial daily rate, and price elasticity of demand result.

### Claim 4 (depends on 1)

The method of claim 1, further includes:
validating the result.

### Claim 5 (depends on 1)

The method of claim 1, wherein the market area is defined using travel time.