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.

CUSTOMER PROFILING

Describing consumers

demographic socioeconomic personality psychographics and values

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