About marketing

1. MARKET
IDENTIFICATION AND
ANALYSIS

2. WHAT IS MARKET?
IT IS DEFINED AS THE SUM OF ALL THE
BUYERS AND SELLERS IN THE AREA OR
REGION UNDER CONSIDERATION.
Environmental Scanning
The monitoring, evaluating, and disseminating of
information from the external and internal
environments

3. WHAT IS MARKET
ANALYSIS?
It is a tool to identify and assess
the attractiveness of business
opportunity.
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OBJECTIVES OF MARKET ANALYSIS
•Determine the attractiveness of market
•Find and identify new business opportunities
•Targeting and dividing the market into niche
•Positioning the products or brands in the mind of
customers
•Understand the dynamics of the market

4. Dimensions of market analysis
•Market Size- the total number of potential buyers for a product or service and the potential revenue
reach based on that population size.
•Market Segment- people who are grouped together for marketing purposes.
•Market Trends- the direction of the asset's price over time.
•Market Growth Rate- the change in a market's size over a given period, typically expressed as a
positive or negative percentage.
•Market Profitability-takes account of the financial factors that affect your ability to make profits.
•Industry Cost Failure- those incurred by a manufacturer when it produces defective goods
•Distribution Channel- the path used to get a product from the manufacturer or creator to the end
user.
•Key Success factor- success factors are strategic focus, people, operations, marketing, and
finances.

5. Performing Market Analysis
•Identify why a customer will buy your product
•Define your target market through segmentation
•Conduct Market research:
1. Surveys
2. Interviews
3. Focus groups
4. Fustomer observation.
•Incorporate findings into strategic business decisions.
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6. •Target market identification
Method used to sort potential clients for sales
and marketing campaigns, advertising and
promotions using income, demographic, and
lifestyle characteristics of a market and census
information.
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7. Steps in identifying target markets
•Defining source where products and/or services are most likely
needed.
•Researching the volume of products and services sold and
used over a broad demographic area.
•Studying sources of raw materials that are required to produce
products or services.
•Identifying major competitors to determine the location of
target markets
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8. MARKET
SEGMENTATION
This divides a market into well-defined slices.
Segmentation:
• Demographic Characteristics - describe the outward
characteristics of the audience.
• Psychological Characteristics - the specific characteristics of
a person that influence their behavior and thoughts
• Behavioral Characteristics- based on behavior of the person.
• Geographic Characteristics - Assessment of the quantity,
spatial distribution, and ecological characteristics of land
cover types,
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9. thank you