Why do market analysis❓

Why do market analysis❓

Market Analysis is a collection of detailed information. To see if the product or service that will be released to the market can meet the needs of customers or not. In addition, a good market analysis gives us insights. to see the movement or changing trends in the economy, competitors, ongoing market trends, demographics and customer spending habits. Therefore, market analysis is one of the key components that provide businesses with the information they need and can make informed decisions that are relevant to their business.

What is Market Analysis or Marketing Analysis?

Market analysis or market analysis is market assessment. And analyze information in detail in many areas such as Target Customer, Behavior, buying behavior and competitors, etc., to be useful in business planning. risk assessment Evaluate the feedback in order to create a business development strategy in the future. Can do both for those who are about to start a business. and ongoing business

📍 Market Analysis What should it consist of?

- the nature of the industry Contains industry overview, industry statistics, growth rates. and industry trends

- Target market or target market Who is the customer or who is the target group? This includes demographic information that can be targeted. This includes age, gender, income level, and lifestyle, as well as target market size, purchase potential. and the motivation to call the audience

- Collect market-related research by studying the preliminary content including research processes, statistics to support market analysis

- Competitive Analysis, in addition to analyzing the target group It is important to analyze the competitors. Who are your competitors, what are your competitive strengths and weaknesses?

📍Why do Market Analysis?

1. know he knows us

Market Analysis is an important weapon in evaluating competitors. Whether it's an old competitor or a new competitor It also helps measure the reaction of competitors. When we release new products or services, our competitors' strategies, weaknesses, and strengths are one of the most important things to our business.

- Customer Analysis: Who are the main customers and what products are used that are close to ours? What brand do you use? What is the factor that drives this group of customers to make a purchase? At this point, many businesses that are just starting out will die from asking the question, “Our customers are everyone. Because our products will be suitable for every group.” .. This is not recommended!

- Competitor analysis: Competitor analysis in marketing requires looking at both direct competitors. And indirect competitors, who are they, what they offer, and what price, what market does each brand focus on? What customer groups are you focusing on? If we are going to fight and pull the Market Share, what do we have to offer? or develop products in any way to beat these brands

2. Investment is risky.

This word is always true. No matter what type of investment it is, of course, there is risk in doing business as well. Market Analysis will help reduce the risk. and increase your confidence

But don't be so afraid that you don't dare to do anything. or wait until there is no risk Because anyway, you have to understand that the business world has risks on every side. The duty of the business owner is not to eliminate risks. but to reduce the risk which will reduce how much It's up to you to study. and how to analyze the market

3. Seeing new opportunities

Market Analysis is a multifaceted analysis. Both customers, products and competitors, so you may find new market trends. New customer groups, new pain points can be

📍Market Analysis Indicators

Continuity and brand reputation Brand continuity and reputation are important and therefore must be communicated continuously. to build trust with customers And during the marketing audit, keep in mind the following factors such as tone of the message, personality, logo and graphics, images and colors, customer experience, etc., all of which can be used as indicators of brand continuity and reputation. as well

Market potential and quality Even though the indicators say Various marketing campaigns have been extremely successful. But that doesn't mean you have to sit back and enjoy that success without doing anything to build on it. If you want to be number one Further development is always required. Marketers must know where they want to build on. or improved

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Details of online marketing services

>> https://www.chatstickmarket.com/langran

Examples of various brands that we take care of online marketing

>>https://www.chatstickmarket.com/portfolio

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