2.  The goal of a market analysis is to determine the attractiveness of a market and to understand its evolving opportunities and threats as they related to the strengths and weaknesses of the firm.

3.  Situational Analysis and Objectives Specification  Collection of data  Market Survey  Market description  Demand Forecasting  Market planning

4. Identify emerging and relevant values and attitudes shaping behavior in order to make optimal marketing decisions.

5.  Answers the why are we here?  It provides a background on the factors that influence the company’s functions and performance

6. THE SITUATIONAL ANALYSIS Macro environment Market Competition Product SWOT

7. THE SITUATIONAL ANALYSIS – Macro environmental Situation Define and analyze: Economy Technology Political/legal Social/cultural trends – education, lifestyle changes

8. THE SITUATIONAL ANALYSIS – Market How to appropriately identify your target market: Demographic descriptors –attributes of individual customers Geographic descriptors – define trade area Behavioral descriptors – benefits sought by the customer

9. THE SITUATIONAL ANALYSIS – Competition Develop a competitor profile: customer base, products or services, revenues, marketing strategies? Sources for information: marketing materials, employee and customer networks, news releases, prior knowledge Continually monitor competitive landscape on a periodic basis

10. THE SITUATIONAL ANALYSIS – Product Determine and prioritize customer needs Identify the benefits of your products/services in meeting customer needs Know where your products/services rank in the competitive landscape

11. SWOT ANALYSIS Conducting a SWOT analysis that identifies company’s internal strengths (S) and weaknesses (W) from the perspective of the products/services offered and examines external opportunities (O) and threats(T)

12.  What the company is concerned with  What it stands for  Usually this information is found in mission and vision statements

13.  Company’s mission  History  Sales and profits  Market share  Product offerings  Key personnel  Capital resources

14.  Primary data: information that is developed or gathered by the researcher specifically for the research project at hand  Secondary data: information that has previously been gathered by someone other than the researcher and/or for some other purpose than the research project at hand

15. Surveys Observations One on one interviews Consumers Employees Competitors

16.  Library  Databases

17.  Defining the target market  Selecting the sample  Developing the questionnaire  Training the surveyors  Recording the information  Interpreting the information

18.  Effective demand  Breakdown of demand  Price  Consumers Interest  Methods of distribution  Sales promotion  Supply and competition  Government policy

19.  An activity of determining qty. of goods to be purchased in Future  Necessity for forecasting Demand  Stock Effects  Market Response effects

20.  Qualitative Methods  Consumer’s opinion survey.  Sales force composite.  Experts opinion method.  Delphi technique

21.  Econometric method.  Barometric method.  Time series method.