A market analysis in my own word can be seen as the assessment which gives you permission to chose a prefered or how suitable a particular place where people buy and sell is for your industry, so before anyone or anybody own or build an industry you must fist of all know a suitable market for that, and the risk associated with it and also the benefits or the gain a person would get at a particular place to buy and sell for the purpose of trading. So before you do all that you need to make or write analysis on what you want to do or the business you want to invest in. For example if i own a barbing salon in my home town and in just some few months i open another three barbing salon in different locations or in some places around me, what is the possibility that that i am going to continue establishing or opening more, but for me to make a wish or suitable decision, i need to consult or conduct a marketing analysis, in order for me to be successful. And also a person that analyse on how to set up where people go to purchase or give out good or where goods are being sold, the person or those groups of people can also make it attractive. So a marketing analyse can also make a business attractive, thank you.
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A market analysis is an important stage of the marketing Manager. Qualitative analysis of the market allows you to quickly find a free market niche, to choose the most attractive target market to better understand consumer goods company. Market research for business planning Market research must give answers to the questions that consumers want, what they need, what trust. Research may include the study of the actions of consumers, the behavior at different stages of the buying process, etc. When starting a new business, especially important: Market information Primary market information is the price of suppliers of this market, the situation of supply and demand. Such information should be obtained from independent sources, in different formats. Market segmentation Market segmentation - a separation into subgroups market combined in one or more essential characteristics. The following segmentation is often used: geographic, gender, demographic, etc.Market trends It is necessary to consider trends in the rise or fall of the investigated market in a certain period of time. It is difficult to estimate the size of the market with the launch of a new business, as the necessary historical statistical data and expert data insiders. In this case, you can try to derive numbers from the number of potential consumers, dividing them into segments.
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