The Complete Guide to Market Analysis

Scouting

What is market analysis?

  • Industry cost structure — What’s the fixed and variable costs of your offering? Can you break these costs down to the product or regional level?
  • Market size and competitive analysis — How big and competitive is the market? And who are you are your competitors?
  • Demographics and segmentation — Who are you currently and will be selling to? What are the sub-categories within your market? Are you able to develop more product lines or service offerings?
  • The growth of the market — What are the past and current industry growth indicators? Will this growth continue?
  • Market trends — Is the market changing? And what’s needed to be done to keep moving forward?
  • Market profitability — What are the aspects of your market sector that affects potential profitability? How attractive is your market and what’s the expected margins?
  • Distribution channels — Looking at your current and possible future distribution channels. How will these distribution models affect your business?

Why conduct market analysis?

Market Analysis data sources

Secondary research

Primary research

Surveys

Sales data

Employees

Focus groups

Social

Finally

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