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Chapter 6: Market Analysis and Market Research

This document discusses market analysis and research. It defines market analysis and research as organized efforts to gather information about markets or customers. This is an important part of business strategy. Market research focuses specifically on marketing processes, while market research focuses on markets. The document outlines sources to obtain market information, such as the internet, industry reports, government agencies, and publications. It also discusses market segmentation, which is dividing the market into subgroups with similar motivations, including based on geography, demographics, and product use.

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Emerson Cruz
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88 views8 pages

Chapter 6: Market Analysis and Market Research

This document discusses market analysis and research. It defines market analysis and research as organized efforts to gather information about markets or customers. This is an important part of business strategy. Market research focuses specifically on marketing processes, while market research focuses on markets. The document outlines sources to obtain market information, such as the internet, industry reports, government agencies, and publications. It also discusses market segmentation, which is dividing the market into subgroups with similar motivations, including based on geography, demographics, and product use.

Uploaded by

Emerson Cruz
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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CHAPTER 6 : MARKET ANALYSIS

AND MARKET RESEARCH


MARKET ANALYSIS AND MARKET RESEARCH
• Is any organized effort to gather information about markets or
customers.
• Is a very important component of business strategy. The term is
commonly interchanged with marketing research; however, expert
practitioners may wish to draw a distinction,
• In that marketing research is concerned specifically about
marketing processes, while market research is concerned
specifically with markets.
ELEMENTS OF MARKET RESEARCH
Market Information
Through market information one can know the prices
of the different commodities in the market, as well as
the supply and demand situation. Information about
the markets can be obtained from different sources,
varieties and formats, as well as the sources and
varieties that have to be obtained to make the
business work.
Market Information
• Where to get information?
 Internet – offers information on the business trends, practices and market sizes
 Syndicate reports – provide an overview of how certain industries are performing
 Industry reports – An insider information developments and current practices of
big players
• In certain industries such as (banking, real estate, tourism) through regular
updates and reports released by various industry associations.
 Government agencies – background research on particular businesses (DTI, and
other government agency’s website)
 Academic papers – feasibility studies and business plans conducted by
undergraduates and graduate students of the universities and colleges
 Publications – books, newspapers, magazines normally articles on how the
industries and businesses are performing.
Market segmentation

• is the division of the market or population into


subgroups with similar motivations. It is
widely used for segmenting on geographic
differences, personality differences,
demographic differences, technographic
 differences, use of product differences,
psychographic differences and gender
differences
Chapter 7: Forms of Small
Business Ownership, Registering
and Organizing
5 Main Forms of Business Ownership

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