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  2. WHAT IS MARKET? IT IS DEFINED AS THE SUM OF ALL THE BUYERS AND SELLERS IN THE AREA OR REGION UNDER CONSIDERATION. Environmental Scanning The monitoring, evaluating, and disseminating of information from the external and internal environments
  3. WHAT IS MARKET ANALYSIS? It is a tool to identify and assess the attractiveness of business opportunity. 20XX presentation title 3 OBJECTIVES OF MARKET ANALYSIS •Determine the attractiveness of market •Find and identify new business opportunities •Targeting and dividing the market into niche •Positioning the products or brands in the mind of customers •Understand the dynamics of the market
  4. Dimensions of market analysis •Market Size- the total number of potential buyers for a product or service and the potential revenue reach based on that population size. •Market Segment- people who are grouped together for marketing purposes. •Market Trends- the direction of the asset's price over time. •Market Growth Rate- the change in a market's size over a given period, typically expressed as a positive or negative percentage. •Market Profitability-takes account of the financial factors that affect your ability to make profits. •Industry Cost Failure- those incurred by a manufacturer when it produces defective goods •Distribution Channel- the path used to get a product from the manufacturer or creator to the end user. •Key Success factor- success factors are strategic focus, people, operations, marketing, and finances.
  5. Performing Market Analysis •Identify why a customer will buy your product •Define your target market through segmentation •Conduct Market research: 1. Surveys 2. Interviews 3. Focus groups 4. Fustomer observation. •Incorporate findings into strategic business decisions. 20XX presentation title 5
  6. •Target market identification Method used to sort potential clients for sales and marketing campaigns, advertising and promotions using income, demographic, and lifestyle characteristics of a market and census information. 20XX presentation title 6
  7. Steps in identifying target markets •Defining source where products and/or services are most likely needed. •Researching the volume of products and services sold and used over a broad demographic area. •Studying sources of raw materials that are required to produce products or services. •Identifying major competitors to determine the location of target markets 20XX presentation title 7
  8. MARKET SEGMENTATION This divides a market into well-defined slices. Segmentation: • Demographic Characteristics - describe the outward characteristics of the audience. • Psychological Characteristics - the specific characteristics of a person that influence their behavior and thoughts • Behavioral Characteristics- based on behavior of the person. • Geographic Characteristics - Assessment of the quantity, spatial distribution, and ecological characteristics of land cover types, 20XX presentation title 8
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