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Market Analysis Submitted To, Dr. SUNITA CHOWDHURY • Presented By • Akash Dixit • Mayank Gupta • AakarshBhardwaj • Harsh • Varnikavarn
Market trends • Current and future trends that are shaping the market Market analysis is the study of market trends to understand customer behavior and make informed business decisions. Current trends include the rise of e-commerce,
Executive summary • Provide a high-level summary of your market analysis. It aims to provide a clear understanding of the market dynamics and opportunities, enabling stakeholders to make informed strategic decisions efficiently
Market overview The market overview reveals a growing market with promising opportunities. Market size, growth rate, and key trends indicate a positive trajectory. Emerging technologies, changing consumer behavior, and increasing demand provide a favorable landscape for businesses to thrive and capitalize on untapped potential.
MARKET SEGEMENT Market segmentation is the process of dividing a larger market into smaller, distinct groups or segments based on certain criteria. This strategic approach allows businesses to better understand their customers, tailor their marketing efforts, and address the unique needs and preferences of different groups.
There are several ways to segment a market: Demographic Segmentation 2) Geographic Segmentation Segmenting the market based on geographical factors such as location, region, climate, and urban/rural areas. This is particularly useful for products or services that have location-specific relevance. Dividing the market based on demographic factors such as age, gender, income, education, occupation, and family size. This helps target products or services to specific groups that share similar characteristics.
3) Psychographic Segmentation: 4) Behavioral Segmentation Segmenting based on consumer behaviors, including buying patterns, usage frequency, brand loyalty, and benefits sought. This approach is often used to understand how customers interact with products. Grouping consumers based on psychological and lifestyle traits, attitudes, values, interests, and behaviors. This delves into the motivations behind purchasing decisions.
5) Segmentation by Usage Occasion: 6) Segmentation by Benefits Identifying segments based on the primary benefits customers seek from a product or service. Different groups might prioritize different features or outcomes. Grouping consumers based on when and how they use a product or service. This could include regular usage, special occasions, or specific events.
Competitor analysis • Identify key competitors in the Market Competitor analysis is a process of studying and understanding other companies in the market. It helps businesses learn about their rivals' strengths, weaknesses, strategies, and products. By doing this, companies can make informed decisions, identify opportunities, and stay ahead of the competition.
Customers analysis • Customer analysis is the process of studying and understanding the needs, preferences, and behaviors of customers in a particular market. • It helps businesses make better decisions by identifying their target audience, evaluating their purchasing patterns, and developing strategies to attract and retain customers.
Who are your competitors? 1. Direct competitors The brands that first come to mind when you think about your competition. They’re in your sector or neighborhood, marketing products and services that do the same like-for-like job as yours. 2. Indirect competitors They address the same customer needs as your business does, but they do it differently. Your target audience will overlap with theirs but won’t be an exact match. 3. Substitute competitors These don’t sell the same products but compete for consumer spending, e.g. bars, cafés, restaurants, delis, and supermarkets all compete for lunchtime trade on a main street.
Swot analysis(Strengths, Weaknesses, Opportunities, Threats) • Strengths: We have identified our unique selling propositions, strong brand reputation, and robust distribution network. • Weaknesses: We have identified areas of improvement such as limited product range and higher production costs. • Opportunities: We have identified emerging market trends, untapped customer segments, and potential collaborations or partnerships. • Threats: We have identified competitive pressures, changing regulations, and economic uncertainties that may pose challenges to our business.
Market forecast Based on our market analysis, we forecast a positive market outlook with steady growth projected in the coming years. Factors such as increasing demand, emerging technologies, and evolving consumer preferences indicate favorable market conditions for businesses to capitalize on and achieve success.
Recommendations based on market analysis • Target Market Segments: Focus on the most lucrative market segments identified through the analysis to optimize marketing efforts and tailor products/services to meet their specific needs. • Competitive Differentiation: Identify and highlight unique selling propositions to differentiate from competitors and create a strong value proposition that resonates with the target market. • Innovation and Adaptability: Embrace emerging technologies and market trends to stay ahead of the competition. Continuously innovate products/services to meet evolving customer demands and preferences.
Recommendations based on market analysis • Customer Experience Enhancement: Prioritize customer satisfaction by providing personalized experiences, excellent customer service, and seamless interactions across all touchpoints to build long-term loyalty. • Market Expansion Opportunities: Explore new geographical markets or untapped customer segments identified in the analysis to expand market reach and diversify revenue streams. • Implementing these recommendations will help leverage market opportunities, enhance competitiveness, and drive business growth based on the insights derived from the market analysis.
Thank you • Presented By • Akash Dixit • Mayank Gupta • AakarshBhardwaj • Harsh • Varnikavarn
