LSC MARKET RESEARCH WORKS FOR MANAGED ASSESSMENT DISTRICTS

A relatively recent development in the realm of civic management has been the rise of the managed assessment district.  These districts are often located in downtowns but may be in suburban or rural areas.  They may encompass one block, or cover a wide geography - or not be defined by geography but by specific sector, e.g. hotels, or retail, or cover a wide range of entities.  What these districts have in common is a recognized need and/or opportunity for enhanced economic activity.

An effective place to start to identify such opportunities is through market research.  Districts may consider market research as too expensive or as irrelevant to their needs. In fact, market research is both relevant and can be quite cost effective, indeed an investment, when compared to or applied to much greater outlays for district operational, marketing and economic development programs.   

Purposes/Uses

The market research process and results support a wide variety of uses, both within the district management entity and externally including:

• To develop and assess programs and services
• To guide marketing efforts, media placement
• To help business recruitment and retention efforts
• To help document organizational performance or program results
• To help develop partnerships and/or other funding programs
• To provide credible and timely data to those interested in area development
• To give city government and residents an understanding of the district’s scope and contributions

 Types of Market Research

A managed assessment district may consider various types of market research depending upon its stage of development, needs and issues, including the following:

• Patron behavior and demographic profiles
• Resident behavior and demographic profiles
• Economic and fiscal impacts
• Stakeholder satisfaction
• District (brand) perception
• Land/use/development feasibility

Types of Information/Outcomes

Based on the type of research, our proven methodology delivers measures and results such as:

• Estimates of Patron volume in the district during a given fiscal or calendar year
• Patron spending in total, as well as by broad category (e.g., retail, meals & beverages out, entertainment, etc.)  
• Estimated retail sales taxes generated from patron spending
• The distribution of total patrons and patron spending by:
  w        Local residents
  w        Out-of-area visitors
• Estimated number of local jobs supported by spending activity
• Patron Profile including: residence, information sources, purpose of visit and activities in the district, group size/composition, transportation modes and patron demographics including age, gender, niche, income, household composition, etc.
• Perceptions of the district among patrons
• Competitive shopping behaviors
• Stakeholder satisfaction with district programs and activities

Consultant

Lauren Schlau Consulting is a certified woman-owned Los Angeles market research/ consulting firm with expertise in sectors engaged in or related to economic development activity including travel/tourism, retail, and cultural arts.

Lauren Schlau, Principal, founded LSC in 1992. She began her career in consumer market research then focused in tourism and hospitality as Research Director at the San Diego Convention & Patrons Bureau then at PKF Consulting.  She broadened into economic development, working with local, regional and state governmental departments and agencies.

LSC has performed a wide range of studies as a consultant to the following managed assessment district organizations:

§         International Downtown Association

§         Los Angeles Downtown Center Business Improvement District

§         Los Angeles area BID Consortium 

§         Sunset Strip Business Association

§         West Hollywood Marketing & Visitors Bureau

LSC is proud that studies conducted for the L.A. Downtown Center BID and the L.A. BID Consortium were recognized with an IDA Achievement Award.

LSC holds memberships in the California Downtown Association, the International Downtown Association and the Responsible Hospitality Institute/Sociable City Network. 

Lauren serves on the CDA board of directors and on the Information/Research Committee of the IDA and is past chair of the L.A. DCBID Marketing Committee.