2. 1. INTRODUCTION OF MARKETING CHAPTER 1-1
WHAT IS MARKET ANALYSIS
to understand & answer following questions:
- WHO________ - WHO________
- WHAT________ - WHAT________
- HOW________ - HOW________
3. 1. INTRODUCTION OF MARKETING CHAPTER 1-1
WHAT IS MARKET ANALYSIS
to identify & helps :
R____
P_____
T_____
R_____
B_____
M_____
O_____
4. 1. INTRODUCTION OF MARKETING CHAPTER 1-1
HOW TO CONDUCT ANALYSIS
i. DETERMINE THE P______
- main reason to conduct the analysis
(eg. reduce risk, create opportunity)
- internal / external
# identify your main purpose on the process
5. 1. INTRODUCTION OF MARKETING CHAPTER 1-1
ii. RESEARCH THE I______
- understand the direction of an industry
- collection of supporting data
(eg. sizes, trends, growth)
# background research on your specific industry
HOW TO CONDUCT ANALYSIS
6. 1. INTRODUCTION OF MARKETING CHAPTER 1-1
iii. IDENTIFY TARGET C______
- not everyone will be customer
- to identify consumer’s factors
(eg.age, gender, income, education,
occupations, interest, location etc)
# create a customer profile with specific factors
HOW TO CONDUCT ANALYSIS
7. 1. INTRODUCTION OF MARKETING CHAPTER 1-1
iv. COMPARE THE C______
- to understand who’s the competitor
- conduct SWOT analysis for them
- identify all competitor’s rank
# rank a top 3 competitor’s list in your industry
HOW TO CONDUCT ANALYSIS
8. 1. INTRODUCTION OF MARKETING CHAPTER 1-1
v. D___ VERIFICATION
- data should be relevant & factual
- verify through all credible sources
(eg. government resources, local
commerce website, SWOT, surveys,
focus group etc.)
# conduct a focus group / survey
HOW TO CONDUCT ANALYSIS
9. 1. INTRODUCTION OF MARKETING CHAPTER 1-1
vi. ANALYZE THE D___
- organize all data into sections
(eg. industry, target market,
competition, etc)
# create a mindmap with all collected data
HOW TO CONDUCT ANALYSIS
10. 1. INTRODUCTION OF MARKETING CHAPTER 1-1
vii. S______ THE ANALYSIS
- convert the analysis into readable &
digestible format
- apply your analysis into the business
# create SWOT for your analysis result
HOW TO CONDUCT ANALYSIS
11. 1. INTRODUCTION OF MARKETING CHAPTER 1-1
- what you do well?
- what you good on?
- how can u do more?
- what help you grow?
- what is your potential
opportunity?
- what obstacles you face?
- your competitor strength
- what’s wrong in the
industry?
- what need to improve?
- what you lack of?
15. 1. INTRODUCTION OF MARKETING CHAPTER 1-1
Setup a product & relevant industry
#1 identify your main purpose on the process
#2 background research on your specific industry
#3 create a customer profile with specific factors
#4 rank a top 3 competitor’s list in your industry
#5 conduct a focus group / survey
#6 create a mindmap with all collected data
#7 create SWOT for your analysis result
ASSIGNMENT B1
16. 1. INTRODUCTION OF MARKETING CHAPTER 1-1
TIPS
#5 conduct a focus group / survey
- questions should include the following samples:
what customer need? (feature / function / quality)
how much customer willing to pay?
what is the market trend? (what consumer like / follow)
what is the best consumer group? (demographic)
what is the market / industry perception? (feeling)
17. 1. INTRODUCTION OF MARKETING CHAPTER 1-1
CHEAT SHEET
#1 identify your main purpose on the process (SMARTPHONE)
- to identify profitable way by entering the market
- to understand the attractiveness of the market
#2 background research on your specific industry (SMARTPHONE)
- smartphone industry start growing since 2007
- more than 1.38billion units sold on 2020
- estimated revenue of USD450 billion
- SEA & China is the major growing market
- estimated with 4% year-over-year growth
- resources : www.bankmycell.com
18. 1. INTRODUCTION OF MARKETING CHAPTER 1-1
CHEAT SHEET
#3 create a customer profile with specific factors (SMARTPHONE)
- Malaysia working adult, Male & Female, all races
- Age group : 19-29 yrs
- Income level : RM3000-5000
#4 rank a top 3 competitor’s list in your industry (SMARTPHONE)
- Apple (market share 21%)
- Samsung (market share 16%)
- Xiaomi (market share 11%)
19. 1. INTRODUCTION OF MARKETING CHAPTER 1-1
CHEAT SHEET
#5 conduct a focus group / survey (SMARTPHONE)
- total of contributors : 25persons
- 10 questions & answer*
example. how often you change your previous phone?
a. 1-12 months (20%)
b. 1-2 years (32%)
c. 2-3 years (24%)
d. above 3 years (20%)
e. not specific (4%)