Abstract: A market planning system and associated methods are disclosed for dynamically generating an at least one local trade area and/or market planning area for an at least one business location. In at least one embodiment, a central computing system identifies a plurality of block groups proximal to the at least one business location. For each of the identified block groups, the computing system identifies at least one trade anchor located within said block group. The computing system defines a plurality of local trade areas based on the identified block groups and associated trade anchors, and subsequently defines an at least one market planning area based on the local trade areas.