Marketing Analysis
Marketing Analysis
Marketing Analysis
NG
ANALYSIS
MARKETING ANALYSIS
• A marketing analysis is a study of the dynamism
of the market. It is the attractiveness of a special
market in a specific industry. Marketing analysis
is basically a business plan that presents
information regarding the market in which you
are operating in. It deals with various factors
• A marketing analysis is done so that you can
formulate a strategy on how to run your
business. By taking into consideration certain
factors, you will know how to operate your
business.
WHAT ARE THE FACTORS?
• Most common factor is the SWOT which is an
acronym for; Strengths, Weaknesses,
Opportunities, and Threats
• By assessing the company’s strengths and
weaknesses, you can make a strategy on which
factors to focus upon.
• Economic factors, political instabilities or even
social changes can give you opportunities
which you can seize and do better. They can
also create threats which are going to hamper
your business dealings
DIMENSIONS OF MARKETING
ANALYSIS
• Market Size
• Growth rate of the market
• Market trends
• Market profitability
• Key success factors
• Distribution channels
• Industry cost structure
MARKET SIZE
• The size of the market is a key
factor in a marketing analysis. The
bigger the market the more
competitors you are likely to have.
For a big market, you need to make
sure your products and services
stand out. Otherwise, the customers
can easily switch to a rival product.
Market Trends
• Market trends are a significant
part of the marketing analysis.
Having knowledge about the
trends help you to decide what
kind of product you are going to
sell. When you are starting off a
business you need to know what
the current trend is.
Market Profitability
• Most companies’ motive to get
into the business is to make a
profit. In other words, they are
profit-motive businesses. So
before getting into a business
you need to analyze the
profitability of the market
Growth rate of the market
• The market growth rate is a huge
factor in any sort of marketing
analysis. This is because you get
the idea of how long the said
market will last. Before you make
an investment you need to
analyze the market’s growth rate.
Key Success Factors
• The key success factors are those elements
which help the business to achieve great
success in the market. Such elements are
required to stand out among the rest of the
competition. These are things which you did
well that have enabled you to produce great
results. Key success factors include;
• Technology progress
• Economies of scale
• Efficient utilization of resources
Distribution Channels
• Distribution
channels are very
important for a business. Without
those, you won’t be able to get
your products to your customers.
So it becomes a big factor in a
marketing analysis. This is
because you need to assess how
well the channels are. If the
existing ones are good enough or
Industry Cost Structure
• The industry cost structure is a
significant factor while running a
business. It basically sees how much
cost is required to get your products
for sale. Sometimes firms can come
up with ways to decrease that cost
and thereby make a bigger profit
without increasing the market price.