professionalising market management simon quin professor cathy parker simon quin

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Professionalising market management

Simon Quin

Professor Cathy ParkerSimon Quin

Vitality and ViabilityYou will often have heard about v&v for town centres it applies to markets as well. They need to attract people (shoppers and traders) and to be busy places (vitality) but they also need to be attractive in the long term to have the ability to attract investment (viability). To do either of these things they need effective management. Once it was enough to open a market and people came they had no choice. But times have changed and now you have to fight for customers and investment. Effectve management, making evidence based decisions, knowing how to respond to what is happening is key. So what is the challenge? Julian Dobson has already told you some of what is happening in town centres and you have heard something about what is happening in markets. Let us start with a few other facts.2

town centre retail spend fallingIn the early 1980s about 95% of retail spend took place in town centres. This continued fall is despite planning policy changes and despite town centre management3

online share of retail spend: 2014Spend continues to go out of town but it also goes here. Worlds leading online shoppers. Forecast to grow to 1/3rd for some sectors.4

Twenty-five reasons why markets matter

Faced with these challenges we at the Institute prepared a report for NABMA which we launched at the 9th International Public Markets Conference in Barcelona in March. This identified from a review of the literature and from reports and publications 25 reasons why markets matter. 5

Economic

Social

Political

We grouped the 25 across three categories. Each of the 25 statements has a reference that shows you the original source for the information. 6

Detecting the market factorThe report we prepared also looked at whether markets were successful in attracting people to town centres. We used footfall data (pedestrian flow counts) using data from retail intelligence specialists Springboard. 7Footfall profile by market day

placemanagement.org/researchYou can find the report here9Month to month footfall in market townsFunctionalDysfunctionalThe market effect also has a noticeable impact when we look across the year. 10

What influences market performance?Do you understand what influences the performance of your market? Do you know who uses it? To what extent is it affected by other things in the town or city centre and to what extent does it affect them? How is it affected by general trends in the economy or in retailing? 11

Getting the basics rightCongratulations to those who will shortly receive their Diploma in Market Administration and those who have completed the course in previous years. You need to understand how to organise and run a market but.12

Will your market be sustainable?

ManagementMarketingBrandingDevelopmentLeadershipStrategyIntelligenceForecastingResearch

14

Developing your skills and knowledge..

but helping the industry and your market

Masterclasses

PG Certificate

PG Diploma

Masters

Continuing professional development

ProjectsPlacementsResearchImpact

placemanagement.org/markets