To get started, launch of new products, maintaining a stable demand, increased sales of enterprise needs information about the business environment, competitors and consumers.The purpose of market research - is to get the fullest possible information on the subjects and objects of the market, external factors and trends for decision-making in the production and sale of goods and services.
Which areas include market analysis
To decide on the possibility of entering the market of goods or services must be a detailed study of the market:
- definition of its type.
- study of the market structure.
- analysis of the situation.
- Selection of target segments.
- forecast sales volumes.
If market entry has already taken place, the company successfully works and makes a profit, regular market research is still necessary.It may be incomplete, and include only interest at the moment the information that will preserve and strengthen the position of, provide for possible changes in demand.
type definition of the market and its structure
At the beginning of the study of the market of goods or services necessary to determine the type of market:
- local, national or world;
- monopolistic, oligopolistic, with free competition;
- market of goods, services, raw materials, labor, capital, innovation, securities;
- wholesale or retail.
- market consumers or producers;In the first case, the position of the buyers more than sellers, the second - on the contrary;
- market consumers or businesses (buyers are firms);
- indoor or outdoor.
addition to determining the type of market, it is also necessary to describe it.The market may be developing or decaying, confined to legal regulations or economic conditions.
The next step is to identify the structure of the market, the division of consumers into segments, the study of the needs of individual groups.Market research at this stage aims to prepare the information to identify the most attractive segments for a particular product or service.
Market Analysis Market Research
goods (services) necessarily includes the study of conditions.This work is to identify and analyze:
- market indicators;
- occupied a market share of different companies;
- indicators of demand for the product or service;
- indicators offer production;
Evaluation situation is not limited to the study of the internal characteristics of the market.For marketing, it is important to determine how conditions will change.Therefore, market research includes the analysis of external factors: political, economic, cultural and social situation in the country, the global trends in similar markets, new technologies, the labor market, the legislative framework.
Assess the impact of external factors and their intensity is extremely difficult.For this purpose it is necessary to define a set of the most important indicators and to consider their impact on the market under study.
Identify target segments
After the segmentation of the market and exploring its environment comes time to select the target groups of consumers.In order to determine the attractiveness of a particular segment such criteria exist:
- intensity of competition;
- ease access to attract customers;
- possibility of exposure;
- segment size;
- similarity of this group of consumers;
- growth rate of the number of representatives of the segment.
target segments may be several.Each company aims to increase sales, but there are limits.To determine the optimal number of segments that can cater for the company, are two ways of development of the market:
- concentrated method involves phased development segments.
- particulate method is to try to master the whole market a product or service and the subsequent rejection of the dead-end segments.
Market research involves regular analysis of the developed segments of potential customers already interested in the product and undeveloped "areas."
market study to determine what competitive advantage is or may be in a given product or service.Positioning means the need to find their place in the market, which has already sold the same or similar in its properties to the products.
research, analysis and the most professional marketing does not help make the product more attractive in the eyes of the consumer, if it does not meet their needs.And they grow and change, so it is necessary to react to these changes, make sure that the competitiveness of the product on the market is not declining.
Positioning can go in one of two directions:
- filling a niche market whose needs are not being met competitors;
- to enter the market with the same or very close to one of the benefits of competition.
study commodity markets will be incomplete without defining the targets of market development and sales of a particular company.This forecast is a guide for decision-making.The needs and desires of consumers, the release of new products on the market, competitors' actions, external factors - everything is in constant motion and change the conditions in the market.
If time is not the prognosis and the corresponding decisions, the market research will become useless.In the long run, and in business planning drawn up once 3 forecast: optimistic, most likely, and pessimistic.For the full picture, you can study the influence of certain factors on the forecast figures.For example, if we strengthen the system of sales, how much it will take time and money and how it will help to increase sales and profits.
sales forecast is the final stage of market research and helps to organize the financial flows, production processes, marketing activities.