Market Analysis

The concept of marketing analysis of the market (MA) does not have a clear definition. Most experts do not distinguish between it and the concept of "marketing research", or consider it as an integral part of a comprehensive market research.

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The essence of MA is as follows - it is a quantitative and qualitative analysis of one or a combination of markets to obtain information about its potential, capacity, market conditions, consumer behavior, price dynamics.
The purpose of conducting a marketing analysis is to study a specific product market (service market) in order to promote the company's products on it and make targeted management decisions.

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Why does a company need market analysis?

Carrying out marketing research (analysis) is aimed at reducing the risks of entrepreneurial activity. Its results are intended for management to make management decisions, which are always accompanied by risk in the face of constant market changes and uncertainty in the behavior of both consumers and competitors (as well as the state!). To reduce them, you need to know:

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• demand for products;
• its competitiveness;
• markets for its sale, their capacity;
• potential buyers;
• existing competitors;
• enterprise capabilities;
• availability of raw materials and materials.

The final financial results of the work, the stability of the enterprise depend on this information. The results of marketing analysis help to reduce the risk of unclaimed products, adapt production to market conditions, and, therefore, ensure further development.