How to conduct a marketing analysis

Before planning production capacities and the volume of output, the enterprise management needs to know how, where and how many products will be sold. To obtain this data, a marketing analysis is carried out.

Instruction manual

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In the process of conducting marketing analysis, two main factors are studied: the state of the external environment of the enterprise and the life cycle of the product.

The study of the external environment is an analysis of factors, the most significant of which is economic. This is a set of inflation rates, employment levels, and other indicators with which you can identify new opportunities for production. Another significant factor is the market one, when analyzing it, the income level of the population is taken into account, competitors in the industry and the possibility of easy penetration of the product into the market are evaluated.

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Environmental factors are also considered environmental factors - the enterprise management should analyze possible changes in technologies, the use of computer-aided design and delivery of goods or services. The study of competitors is carried out especially carefully. Their strategy is evaluated, their strengths and weaknesses are studied, and their future goals are predicted. All this together gives an estimate of the potential market share for new products.

The study and analysis of environmental factors give managers a complete picture of the risks and opportunities that they will have to face in the production and sale of new products.

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An analysis of the life cycle of a product is a forecast of its lifetime on the market. Any of the goods is in demand until a product that is more advanced or with the same characteristics, but cheaper, enters the market.

There are several periods in the life cycle of most products: introduction, growth in production and sales, maturity - “plateau”, saturation and decline. Marketing analysis and the development of appropriate strategies depends on what period the product is in at the time of analysis.

The use of marketing analysis allows the organization to increase its competitiveness, occupy a more significant market share and increase its profitability.