A thorough market analysis is one of the basic building blocks for your business and marketing planning.

1. !
MARKET ANALYSIS
presented by Alex Reilly
vic president + principal
!
@alexreilly
alex@mbpiland.com

2. !
“A goal without a plan is useless.” —Antoine de Saint-Exupery!
© MB Piland Advertising + Marketing. All rights reserved.

3. 4 LEARNING
OBJECTIVES
1. what is market analysis
2. how to do a market analysis
3. applying it to your business strategy
4. tips
© MB Piland Advertising + Marketing. All rights reserved.

4. © MB Piland Advertising + Marketing. All rights reserved.
MARKET
ANALYSIS
WHAT IS IT?

5. competitioneconomy peoplegeography
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MARKET
ANALYSIS

6. MARKET
ANALYSIS
How do you fit in?
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7. MARKET
PROSPECTS
CURRENT
CUSTOMERS
COMPETITOR
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COMPETITOR
YOU

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geography

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economy

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people

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DEMOGRAPHICS
age!
gender!
ethnicity!
HHI!
education!
marital status!
occupation

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PSYCHOGRAPHICS
habits!
interests!
wants/needs!
attitudes!
barriers

13. “Keep your friends close and your enemies closer. “!
“My own business bores me to death; I prefer other
people’s.” —Oscar Wilde, Lady Windemere’s Fan!
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COMPETITION

14. © MB Piland Advertising + Marketing. All rights reserved.
competition

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HOW-TO
DO YOUR OWN
MARKET ANALYSIS

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quantitative vs. qualitative
INTELLIGENCE
GATHERING

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INTELLIGENCE
GATHERING

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20. © MB Piland Advertising + Marketing. All rights reserved.

21. © MB Piland Advertising + Marketing. All rights reserved.

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telephone directories
association/trade group databases
and research
catalogs
real estate reports
internet searches
surveys
Get creative!
INTELLIGENCE
GATHERING

23. “Designing your product for monetization first and people second will
probably leave you with neither.” —Tara Hunt!
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24. QUALITATIVE
LEARN TO
LISTEN

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interviews
intercepts
observation
focus groups
yelp, Angie’s list, etc.
social media mining
INTELLIGENCE
GATHERING

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CRAFTING
STRATEGYPRACTICAL
APPLICATIONS

27. !
“Drive thy business or it will drive thee.” —Benjamin Franklin!
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28. © MB Piland Advertising + Marketing. All rights reserved.
PUTTING IT
TOGETHER
PRICING
PEOPLE
TRENDS
THE SWEET SPOT!

29. © MB Piland Advertising + Marketing. All rights reserved.
PRICING:
what do prospects currently pay for
similar products/services?
what do key competitors charge?
what do you need to charge to break
even, to make a profit?
PUTTING IT
TOGETHER

30. © MB Piland Advertising + Marketing. All rights reserved.
BEST PROSPECTS:
where do they live?
where do they work?
where do they play?
which media do they consume?
where does media intersect in your
product/service buying cycle?
PUTTING IT
TOGETHER

34. !
“There’s no business like show business, but there are several
businesses like accounting.” —David Letterman!
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35. WATCH FOR
TRENDS
STOCK
MARKET/
ECONOMY
NATURAL
DISASTER
ENVIRONMENT
REGULATORY
GROWING
POPULATION
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NEW
COMPETITORS
NEW
TECHNOLOGY

36. © MB Piland Advertising + Marketing. All rights reserved.
DOs AND
DON’TsPRACTICAL TIPS
AND RESOURCES

37. !
“In the business world, the rearview mirror is always clearer than the
windshield.” —Warren Buffet!
© MB Piland Advertising + Marketing. All rights reserved.

38. © MB Piland Advertising + Marketing. All rights reserved.
DOs:
Review
Update/modify
Talk to customers/prospects
Listen to employees, suppliers, reps
Read
Network
!
The market is always changing; you’re
never done
TIPS

39. © MB Piland Advertising + Marketing. All rights reserved.
DON’T:
!
Rely on only one source !
Only listen to “the choir”!
Get too comfortable!
Rely solely on “facts” from wikipedia!
TIPS

40. BEWARE OF ROSY
TUNNEL VISION

41. Don’t just talk—listen, too
!
It’s not all about you—it’s a relationship:
conversation and building community
WEB+
SOCIAL
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42. !
“The big secret in life is that there is no big secret. Whatever your
goal, you can get there if you’re willing to work.” —Oprah Winfrey!
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43. QUESTIONS
THOUGHTS?
@alexreilly
alex@mbpiland.com
… hmmmmm

44. THANK YOU
@alexreilly
alex@mbpiland.com
© MB Piland Advertising + Marketing. All rights reserved.