market anlysis SOFTware.pptx

market

1. NEW BUSINESS VENTURE… 2

2. ANSWER TO HIS WORRIES…. 3

3. MARKET 4

4. MAR K ET • A m arket is defined as the su m total of all the buyers and sellers in the area or region under consideration. The area m ay be the Earth, or countries, regions, states, or cities. • The value, cost and price of items traded are as per forces o f supply and de m and in a m arket. The m arket m ay be a physical entity, or m ay be virtual. It m ay be local or global, perfect and imperfect. 5

5. MAR K ET ANALYSIS • A m arket analysis is the best way to get a third-party perspective of all of the best options for your m arketing ca m paign, and to ensure that your m arketing dollars are spent in the m ost ef f ective way possible. • The goal o f m arket analysis is to deter m ine the attractiveness of a m arket and to understand its evolving opportunities and threats as they relate to the strength and weakness of the fir m. 6

6. OBJECTIVES • Determine attractiveness of a market. • Find & 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 7

7. WHY MARKET ANALYSI S ? • Market infor m ation • Insight into existing custo m ers • Identifying potential custo m ers • Custo m er need • Custo m er behaviour pattern • Identify business opportunity 8

8. • Co m petitor Analysis • Econo m ic overview • Shift share analysis • Occupational changes • Strategic advantage • Resolving Business Proble ms 9

9. WH E N MAR K E T AN A LYSIS? • Determining the sales potential of your products and services. • Attracting customers to your business • Selling to customers and earning repeat business 10

10. How MARKET A N ALYSIS helps A market analysis answers these questions about your customers: • Who are they? • Where are they? • What do they need? • How do they make their buying decisions? • Where do they buy? • How do you reach them with your marketing and sales messages? 11

11. DIM E NSIONS OF MARKET ANALYSIS • Market size (current and future) • Market seg m ent • Market trends • Market growth rate • Market profitabili ty • Industry cost structure • Distribution channels • Key success factors 12

12. MAR K ET SIZE • Total annual sales in the market served. • Current market size and future size. HOW T O DE T ERMINE MARK E T SIZ E?  Govt. data.  Trade associations.  Financial data from major players.  Customer survey. 13

13. MARKET SEGMENTS MARK ET Geography and location Custo m er seg m ents a) m arket in which we a) who buy our sell product b) local m arket or b) profile of target internation a l m arket custo m er 14

14. MARKET TRENDS  Once the segments of the product's market are determined, the market trends of the product needs to be analysed from time to time.  Identify the trends in the market segments within which the product fits.  If the market segment is growing and is projected to continue to grow, then it is an upward trend.  If the trend is for new products then the company should replace older models, with new ones and that is called downward trend for the older products. 15

15. MARKET GROWTH RATE • Keep a track of the market condition. • Sales growth of complementary products. • Product life cycle phases can be understood. How to estimate the Market Growth R ate ??  H i storica l data  Demographic information 16

16. MARKET PROFITABI L ITY • Profit potential for a market can be used as a guideline to determine how difficu l t it is to make money in the market. • Porter`s 5 forces identifies the 5 factors that effect the market profitability. 17

17. Por t er`s 5 forces 18

18. INDUSTRY COST STRUCTURE • Identifying key factors for success. • Porter's value chain model is useful for determining where value is added and for isolating the costs. • The cost structure also is helpful for formulating strategies to develop a competitive advantage. 19

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20. DISTRIBUTION CHANNELS Th e pat h through whic h goods and service s trave l from th e vendo r to th e consu m e r . A distributio n channe l can be as short as a direc t transactio n fro m the vendor to the consu m er, or m ay include several interconnecte d inter m ediarie s along the way such a s wholesalers, distributers , agent s an d retailers. 21

21. AN A LYSING DISTRIBUTION CHANNEL • What are the alternative distribution channels • What are the trends, • what channels growing importance, • what new channels emerged or likely emerged 22

22. TYP E S OF DISTRIBUTION CHANNELS  Existing distribution channels  Trends and emerging channels  Channel power structure 23

23. KEY SUCCESS FACTOR • The key success factors are those elements that are necessary in order for the firm to achieve its marketing objectives. • Access to essential unique resources • Ability to achiev e economies of scale • Access to distribution channels • Technological progress 24

24. PERFORMING MARK E T A NALY S IS • Identify why a customer would buy your product. • Define your target market through segmentation. • Conduct market research. • Analyze the resu l ts of your research. • Incorporate your findings into strategic bus i ness decisions. 25

25. MARKET RESEARCH Market research can be of two types:-  Pri m ary Market research Pri m ary research is original infor m ation gathered through your own ef f orts to respond to a specific question or set of questions. This infor m ation is nor m ally gathered through surveys, observation , o r experi m entation. 26

26.  Secondary m arket research Secondary research exploits existing resourc e s like co m pany re c ords, surveys, rese a rch studies and books and applies the infor m ation to answer the question at hand. It is nor m ally less ti m e consu m ing than pri m ary rese a rch, and c an be less expensive as w ell. 27

27. CONCLUSION • Important to know your business inside and out. • Helps us to stick to the concept of describing the market and the i ndustry as they e x ist today, a sort of situation analysis. • If Market is ana l ysed well then the stage will be • set to present your plan and product to the world. • Helps in proper implementation of Marketing Plan and Strategy of the product. 28 Market Analys i s is