Posts Tagged ‘2006’

How To Do A Market Analysis

We have decided to start a business, or expand the line with a new product, anyone who is our big idea to develop, we must evaluate the environment and define our goals. The analysis will always be useful. And one of these is the market analysis. To begin with, what we mean with that will analyze a market. In the sense of a business, market definition is the following: market: is the place where they sell the product or service; i.e. the market defines the opportunity and customers. When the necessity of the client binds with the product or service, defines a business opportunity.

This means that we must have a good knowledge of our product and our market. You need to take into account that this is only a part focused on customers. If we wish to have an approach more general analysis of business opportunity there is Business Plan: steps to do a market analysis are as follows: define your market: the description of the market with features detailed demographic data, geographical, social, economic etc; they will give us a more complete profile to be able to locate them. The segmentation is also very useful since you can categorize their consumers and develop more targeted strategies. Evaluate the size and projection of the market.

This is important since one of the basic objectives of the market analysis is knowing if an opportunity exists and if it is possible that this will capitalize on. For example, if the number of internet users grows and these are still appreciating the purchase online, companies will find greater opportunities to sell their products for this medium. Identify your value proposition. You will be giving a use value to its clients when it comes to offering your product or service. This value must be greater than the purchase price that they are paying. I.e. the client perceived benefits in your buying decision. This will get it if you clearly identify solutions that delivers its product to customers problems. At this point there are useful strategies such as: identifying the advantage Competitive, or the key factors of success. For a market analysis, there is a complete tool that will help you solve it, this is the market research.