Market analysis

Market analysis, market research implies a comparison and analysis of business results with the general market conditions. As part of the marketing analysis of the market, demand, supply, consumer behavior, prices and other factors are studied, and its ultimate task is to answer the question “is it possible to profit from the commercial activities of our company in the current conditions?”. When analyzing the market, information about suppliers, customers and competitors is also examined in detail.

Marketing analysis of the market is the basis of the strategy of a commercial enterprise.

As part of the marketing analysis of the market, the necessary costs and potential profits are calculated. For this, statistical data is used, legislation and other information is studied, depending on the type of activity of the company. However, within the framework marketing analysis of the market, its main devices, development trends, its prospects and the volume of potential consumers (demand analysis) of specific markets and their segments are studied.

Marketing analysis of the market, marketing is the key to successful planning for the promotion of goods / services without loss, searching for counterparties, building partnerships in the market and trusting relationships with customers. In addition, the analysis of the market and its trends allows you to better navigate the current and future market situation and avoid risks and uncertainties in important decisions, which allows you to have an advantage over competitors and make the right strategic decisions for the development of your business.

Ultimately, market research allows you to most fully and confidently reveal the economic potential of the company and reach new horizons in business. At the same time, it is important not to forget that market analysis, like any marketing research of the market, will be useful if and only if it is entrusted to professionals with high competence in their field.

Actual marketing research

Marketing analysis of the market can be qualitative and quantitative.

It should be noted that computerization and informatization have led to the popularization of precisely quantitative methods, which are considered more accurate. However, when conducting market analysis, one should maintain a balance between both approaches, using both numbers and qualitative data, and most importantly, giving the correct interpretation of the market analysis results. After all, the effectiveness of market analysis depends precisely on the correct conclusions. Professional marketers will also help here.

Obviously, in order to achieve maximum results, it is necessary to formulate the goals and objectives as best as possible, for which the marketing analysis of the market is actually carried out, to prepare a list of questions that must be answered, whether it is the market for services, real estate, sales, etc. This approach will make the analysis effective and useful, and will also help in the coordination of the project.

Market analysis progress:

As a rule, research projects on complex marketing analysis of the market and its forecasts are carried out at the request of companies interested in narrow industry segments of the market. As part of the actual analysis of the market, the collection, mixing, processing, analysis and interpretation of various data related to the market is carried out. Market trends, challenges and problems that the enterprise faces or may face are identified. Upon completion of the market analysis, its results are drawn up in the form of a report, which is submitted to the company / department that ordered the marketing analysis of the market.

In the course of research, market analysis, the following materials can be prepared:

• Collection and analysis of general information about the market. Assessment of the market capacity and its potential.

• Structural analysis of the market by value added segments. Knowing the general picture of pricing in a particular market segment will help you quickly adapt and join the ranks of the main market players, while avoiding unjustified losses as much as possible.

• General analysis of the main market participants. The degree of saturation of the market with ready-made offers and the degree of their demand.

• Detailed analysis of the market players selected by the customer (competitor’s general characteristics, distribution scheme used by him, product line structure or services provided, target audience, promotion channels used, marketing budget assessment, customer support services, etc.)

• Analysis of foreign market participants (if possible).

• It is also possible (and necessary) within the framework of market research, analysis of distribution channels, which will allow you to most effectively form a chain of sales of goods / services to its final consumer.