Market Analysis is simply when you start selling ,will people start buying ?we simply analyze to figure it out. The goal of market analysis is to determine the attractiveness of a market, both now and in the future. We can focus on few given points when we analyze market.
(A) Market Size(current and future)
Market size we can calculate through the market volume and market potential. We can different sources for calculation of market size.
(1)Government data.
(2)Customer survey.
(3)Trade association data
(4)Financial data from major players
(B) Market Trends
Market trends are the upward or downward movement of a market, during a period of time. The market size is more difficult to estimate if one is starting with something completely new. In this case, you will have to derive the figures from the number of potential customers, or customer segments. Here we use follow method to calculate market trends
(1)Customer analysis
(2)Choice modeling
(3)Competitor analysis
(4)Risk analysis
(5)Product research
(6)Advertising the research
(7)Marketing mix modeling
First published here: Market Analysis
