Market analysis is the term given to the process of collecting, studying and analysing data about the market a company is targeting. The goal is to determine whether there's a demand for your product or service so you can get a better understanding of how to promote your product. Market analysis helps you understand who your customers are, what they need and how much they're willing to pay for your product/services. This means that it allows you to assess the competition and identify potential opportunities for growth. In this article, we look at the different parts of a marketing analysis report...

Competitor information

Market analysis helps you understand how your competitors are performing in the market, which can give you insight into what they're doing right, what they're not doing well and what's keeping them from succeeding in their efforts. This information can help you make better decisions about what to do with your own business. This is important as you can use the information to identify new opportunities for your company, meaning that you can exploit gaps that competitors aren't. When done right, this can lead to increased sales.

Market trends

Market analysis allows companies to better understand the market they're operating in. This gives them insight into how their products/services fit into the broader economic landscape. It helps businesses anticipate trends and make strategic decisions about pricing and product development. Market analysis highlights market trends by looking at data from past years, as well as current data. This data can be gathered through surveys, focus groups, etc.

Consumer behaviour and preferences

Market analysts collect information on consumer behaviour through surveys, interviews, focus groups, etc. They analyse this data to gain insight into consumer preferences and habits, which are then used to create models that show how these preferences will affect future demand. The goal of market research is often to identify trends in consumer behaviour so businesses can make informed decisions about how to position their products/services. For more information on the different parts of a marketing report, feel free to contact our team at Mark 2 Creative today.