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Diana Moldozhanova 2500432026
Kristina Zheliba 2014432106
İlayda Vardar 2500432017
Ayaz Akyüz 2500432004
What is Market Analysis?
❖A market analysis is an assessment, which allows you to determine how suitable a particular market is for your industry. You can use market analysis to evaluate your current market, or look at new markets.
Industry analysisan examination of the economic, political, market, etc. conditions that influence a particular industry at a particular time
❖The analysis should be conducted for the industry as a whole and for important product-markets within the industry.
❖ An industry analysis is often conducted along the 6 dimensions.
6 dimensions ofINDUSTRY ANALYSIS
Actual and potential industry size
Industry structure
Cost structure
Distribution channels
Industry trends and developments
Growth and the product life cycle
Uses of Industry Analysis
Understanding a company’s business and business environment
Identifying active equity investment opportunities
Portfolio performance attribution
Actual and potential industry size
❖The potential market includes the usage gap, which can be penetrated by creating increased use frequency, more variety of uses, new users, and uses.
Industry structure
❖The competitive intensity of an industry will depend on its structure, the number and nature of existing competitors, the power of suppliers and customers, and the threat of substitute products and potential entrants.
❖Barriers to entry include capital investment , economies of scale, access to distribution channels, and product differentiation.
Cost structure
❖One way to detect key success factors is to analyze the value added by production stage and observe how it is changing.
❖ Another consideration is whether the industry setting makes an experience curve strategy appropriate or even feasible.
Distribution channels.
❖Directness of channel.
❖The firms that are the closest to the end user will have the greatest control.
❖includes wholesalers, e-commerce websites, catalog sales, consultants, a direct sales force who sell over the phone, in person or both, dealers, home shopping networks and retailers.
Industry trends.
❖ All of the marketing efforts should be performed accordingly to trends and innovation in the industry.
❖If company tries to compete in an industry with rapidly changing trends without being aware of these trends, this can be disastrous.
Growth and the product life cycle
❖The product life cycle can be applied at the level of the product class, a product type, an application, or a brand.
❖Life cycle has 4 stages, they are: introduction, growth, maturity and decline.
❖Detecting when life cycle entering new stage is crucial for developing the strategy, it can be identified by sales and profits.
Competitive Analysis
❖The term competition can be understood differently bythe view of competition held by different groups varies. Most accurate way to define competition is to analysein different titles.
Definition of Competition
Types of Competition
Natural Competition
▪ According to the naturalcompetition, the strongest in the current environmentremains. The ability of businesses to sustain theirassets depends on how theywill provide differentadvantages over otherbusinesses.
▪Natural competition is evolutionary.
Strategic Competition
▪ Strategic competitionpursues major changes thatwill change the competitiverelationships required by itsstructure. For this reason, nothing in strategiccompetition is left to chance.
▪ Strategic competition is revolutionary.
Classifying Competitors
❖Different industries aims to meet different customer needs anddemands;
❖Existing
❖Latent
❖And incipient.
❖Product lines can be grouped into three categories;
❖ a me-too product,
❖ an improved product,
❖ or a breakthrough product.
Seeking Competitive AdvantagePorter’s Five Forces
❖Porter's Five Forces is a simple but powerful tool for understanding the competitiveness of your business environment, and for identifying your strategy's potential profitability.
How collect customer data?
❖Order forms
❖Surveys
❖Complaints
❖Customer satisfaction surveys
❖Feedback cards
❖Your Website
SURVEY
❖Surveys is good business practice to record the details of any customer surveys so you can follow them up. It is one of the known methods can be given various awards to encourage the customers.
COMPLAINTS
❖Recording complaints customer complaints as a way to collect customer information because evaluating the complaints will show you what you lack and you will find the contribution to your development and help you to solve problems.
CUSTOMER SATISFACTION SURVEYS
▪Customer satisfaction surveys collect information on customer satisfaction, you could use survey cards where customers rate, for example, aspects of your service out of 5 also back of this survey can be used for customers' personal information.
FEEDBACK CARDS
▪Feedback cards can also be used to collect information like customer satisfaction surveys you can ask for feedback on specific aspects of your business or leave it open-ended, like a suggestion box. Again, the back of the card can request personal details.
WEBSITE
▪Your website you can use a business website to collect customer information through a 'contact us' form for general enquiries, or by allowing customers to sign up to a mailing list.
4 types of customer1. The Analytic
Facts and figures
Advanced research
Deep knowledge
Brand features
Logical
2.The Amiable
Respectful
Trustworthy
Trust to professionals
Service quality
Emotional
3. The Expressive
Expressive person
Share own perspective
Trust their own opinion
Importance of relationships
Fast decision
4. The Driver
Self-centered
Opinionated
Manipulators
Quick information
Goal-oriented
Fast decision
▪1. usually when you go to shopping or decide about purchasing a product what do you do to obtain opinion?
▪ ask professionals
▪ do deep research
▪ trust your own opinion
▪ look for quick information
2. What you appreciate most in your product or service in your shopping ?
▪ product quality
▪ service quality
▪ quickness
▪ brand
▪When you decide about purchasing a product or service you think about:
how useful the product is
how do you like it
what others will say about your new purchase
what is the duration of your decision of purchasing the product?
it takes not much time
it takes long time