What is a market analysis?

A market analysis is a detailed assessment of a market within a specific industry. With this analysis, you will study the dynamics of your market, such as volume and value, potential customer segments, purchasing patterns, competition, and other important factors. A comprehensive marketing analysis should answer the following questions:

What are the benefits of conducting a marketing analysis?

A marketing analysis can reduce risk, identify emerging trends, and help project revenues. You can use a marketing analysis at various stages of your business and it can also be useful to conduct one every year to keep you updated on any significant changes in the market.

A detailed market analysis will usually be part of your business plan, as it gives you a deeper understanding of your audience and competition, helping you build a more targeted marketing strategy.

These are some other key benefits of conducting a market analysis:

What we analyze:

Market and target customer analysis

It is necessary to conduct analyses on specific markets and customers. This group of customers will become the target of your ads and promotional messages.

Sales analysis

For existing products, sales analysis is what will help you discover valuable data about your prices by adjusting them or offering discounts. This analysis could also lead to a complete discard of products that do not generate revenue.

Product and price analysis

This aspect concerns the feasibility of the product in a new market or the improvement of products in an existing market.

Promotion Analysis

Promotion analysis is a technique used to evaluate the performance of promotional offers. We analyze past promotions, which can be used to improve future promotions.

Advertising Analysis

We study the best way to create awareness of your business, products, or services through advertising. Advertising can be displayed online or offline. We determine the yield of your ad in terms of clicks if online and the number of people’s responses if offline.

Distribution Channel

One of the most effective marketing strategies is planning how to identify and connect with customers. As part of the analysis, determine which channels will be used to distribute your products or services to your potential customers.