Difference between revisions of "Market Analysis"
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| − | A market analysis is a quantitative and qualitative assessment of a market. It looks into the size of the market both in volume and in value, the various customer segments and buying patterns, the competition, and the economic environment in terms of barriers to entry and regulation.<ref>Defining Market Analysis [https://www.thebusinessplanshop.com/blog/en/entry/market_analysis_for_business_plan The Business Plan Shop]</ref> | + | A market analysis is a quantitative and qualitative assessment of a market. It looks into the size of the market both in volume and in [[value]], the various [[customer]] segments and buying patterns, the competition, and the economic environment in terms of barriers to entry and regulation.<ref>Defining Market Analysis [https://www.thebusinessplanshop.com/blog/en/entry/market_analysis_for_business_plan The Business Plan Shop]</ref> |
| − | A market analysis may seem complex, but it’s necessary if you want to lead your business in the direction of success. When you conduct a market analysis, you learn the following: | + | A market analysis may seem complex, but it’s necessary if you want to lead your [[business]] in the direction of success. When you conduct a market analysis, you learn the following: |
*Who are my potential customers? | *Who are my potential customers? | ||
*What are my customers’ shopping and buying habits? | *What are my customers’ shopping and buying habits? | ||
| − | *How large is my target market? | + | *How large is my [[target]] market? |
*How much are potential customers willing to pay? | *How much are potential customers willing to pay? | ||
*Who is my competition? | *Who is my competition? | ||
Revision as of 16:59, 6 February 2021
A market analysis is a quantitative and qualitative assessment of a market. It looks into the size of the market both in volume and in value, the various customer segments and buying patterns, the competition, and the economic environment in terms of barriers to entry and regulation.[1]
A market analysis may seem complex, but it’s necessary if you want to lead your business in the direction of success. When you conduct a market analysis, you learn the following:
- Who are my potential customers?
- What are my customers’ shopping and buying habits?
- How large is my target market?
- How much are potential customers willing to pay?
- Who is my competition?
- What are my competitors’ strengths and weaknesses?[2]
See Also
Market
Market Cap
Market Driven Organization
Market Forces
Market Perform
Market Research
Market Saturation
Market Segmentation
Market Share
Market Value
Market Value Added (MVA)
Target Market
Time to Market
Capital Market
Efficient Market Hypothesis
Product/Market Fit
Product/Market Grid
Marketing
Marketing Effectiveness
Marketing Metrics
Marketing Mix 4P's 5P's
Marketing Operations Management (MOM)
Marketing Plan
Marketing Resource Management (MRM)
Marketing Strategy
4S Web Marketing Mix Model
5C's of Marketing Strategy
7 Ps of Marketing
References
- ↑ Defining Market Analysis The Business Plan Shop
- ↑ What is Market Analysis? Patriot Software