Marketing Analysis Research Paper
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.Marketing Analysis Research Paper
What is the use?
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.
PLACE YOUR ORDER HERE
The most common factors are 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.Marketing Analysis Research Paper If you have a good labor force, ample investment and good advertising experts then you are going to make your marketing strategy focusing on those things. Similarly if your technology is comparatively poorer and you lack online presence then you are going to avoid those things. You also look at external factors like situations which may provide you with an opportunity or threat. 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. Considering all these factors will give you a marketing analysis from which you can implement your decisions.Marketing Analysis Research Paper
Dimensions of Marketing Analysis
There are certain dimensions which help us to perform a marketing analysis. These things help us understand the market we operate in better. These dimensions include;
Growth rate of the market
Market profitability Marketing Analysis Research Paper
Key success factors
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. Not only that, a bigger market makes you rethink your pricing policy. Set your price too high then you are going to lose your customer base to other competitors.Marketing Analysis Research Paper Set it too low and people will think that you are just providing cheaper poor quality goods. If the market size is small then you can get away with charging a high price. All these facts are kept in the marketing analysis. Based on that you go ahead with your marketing plan.
A market analysis studies the attractiveness and the dynamics of a special market within a special industry. It is part of the industry analysis and thus in turn of the global environmental analysis. Through all of these analyses, the strengths, weaknesses, opportunities and threats (SWOT) of a company can be identified. Finally, with the help of a SWOT analysis, Marketing Analysis Research Paper adequate business strategies of a company will be defined. The market analysis is also known as a documented investigation of a market that is used to inform a firm’s planning activities, particularly around decisions of inventory, purchase, work force expansion/contraction, facility expansion, purchases of capital equipment, promotional activities, and many other aspects of a company.
Market analysis can examine all or some of the following points:
Market size and competitive analysis – How large, and how competitive, is the market? Who are you competing against?Marketing Analysis Research Paper
The growth of the market – Does the market have a history of growth that is likely to continue into the future?
Market trends – How is the market changing? What are the most important factors going forward?
Demographics and segmentation – Who are you selling to? There may be sub-categories within the market, allowing multiple product lines.
Market profitability – There are several factors that affect profitability, and each industry will have different margins. How attractive is your market?
Key success factors – The elements that will produce success in the market. This could be technological advances or access to resources.Marketing Analysis Research Paper
Distribution channels – An analysis of the current and potential distribution channels. How does your distribution model affect your business?
Industry cost structure – The fixed and variable costs that the brand incurs. This can be further broken down by products, region, and so on.Marketing Analysis Research Paper