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MarketTownBenchmarking Measuringtheperformanceoftowncentres Amesbury 2012Report October2012 ApprovedbyMNSG 11Feb13 EXECUTIVESUMMARY RetailAtraditionalmarkettownoffering Mirroring the national trend
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How to fill out market town benchmarking

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How to fill out market town benchmarking:

01
Start by gathering relevant data: Collect information about the market town you want to benchmark, such as its demographics, economic indicators, and infrastructure.
02
Define your benchmarks: Identify key performance indicators (KPIs) that are relevant to your market town. These could include metrics like footfall, vacancy rates, average transaction value, or customer satisfaction.
03
Research comparable towns: Find other market towns that are similar in size or have similar characteristics. This will allow you to make meaningful comparisons and identify best practices.
04
Collect data for comparison: Gather data for the identified benchmarks from the comparable market towns. This can be done through surveys, interviews, or by accessing publicly available information.
05
Analyze the data: Compare the benchmark data from your market town to the data from the comparable towns. Look for areas where your town is performing well or lagging behind.
06
Identify gaps and opportunities: Based on the analysis, identify areas where your market town can improve or learn from other towns. This could involve implementing new strategies, investing in infrastructure, or fostering collaboration.
07
Develop an action plan: Create a roadmap for implementing the identified improvements. Set measurable goals, assign responsibilities, and establish a timeline for each action item.
08
Implement and monitor progress: Begin implementing the action plan and track progress regularly. Continuously monitor the identified benchmarks to assess the effectiveness of the improvements.
09
Share and learn from others: Engage with other stakeholders, such as local businesses, government agencies, or community organizations. Share your findings and learn from the experiences of others who have undertaken similar benchmarking exercises.

Who needs market town benchmarking:

01
Local government: Market town benchmarking can help local government officials understand how their town compares to others and identify areas for improvement. This can inform policy decisions and resource allocation.
02
Business owners and entrepreneurs: Benchmarking can provide insights into market trends, customer preferences, and best practices in other market towns. This information can help business owners make informed decisions and identify growth opportunities.
03
Community organizations: Non-profit organizations and community groups can benefit from market town benchmarking by understanding the needs and challenges of their town. This knowledge can inform their programs and initiatives aimed at improving the quality of life for residents.
04
Tourism boards and destination marketers: Market town benchmarking can help tourism boards and destination marketers identify unique selling points and understand the competitive landscape. This information can inform marketing strategies and attract visitors to the market town.
05
Researchers and academics: Market town benchmarking provides valuable data for researchers and academics studying urban development, economic trends, and community dynamics. This information can contribute to scholarly research and inform policy discussions.
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Market town benchmarking is a process of comparing the performance of a town or city with other similar towns or cities in terms of economic indicators, demographics, and other relevant factors.
Local governments or municipalities are typically required to file market town benchmarking reports.
Market town benchmarking reports are typically filled out by collecting and analyzing data from various sources, such as government databases, surveys, and studies.
The purpose of market town benchmarking is to help local governments assess their performance and identify areas for improvement by comparing themselves to other similar towns or cities.
Information that is typically reported on market town benchmarking includes economic indicators (such as GDP, employment rate), demographics (such as population, age distribution), and other relevant factors (such as crime rate, education level).
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