Market analysis is the study of interaction indicators between producers of goods/services and their consumers based on the collection, processing, and application of information about customers' needs and the competitors' supply in the company’s activities.
Market analysis helps determine your brand's place in the market, study the competitive environment, and better understand your target consumer.
Why a company needs market analysis
Business environment research
You cannot develop a successful development strategy without analyzing the external business environment and the market in which you operate. The analysis will provide essential insights and design effective development programs based on identified features.
Distance from competitors
Competition in the modern market is relatively high in every niche. That is why it is crucial to correctly identify your advantages and unique features valuable for your customers. It is your uniqueness that motivates them to buy from you.
Who your target audience is
The research results will be the basis of an effective marketing strategy, as they will promote your products and services as efficiently as possible, excelling among competitors and influencing the actual needs of customers.
Confirming a business idea
Market analysis can also be a strong argument in your favor in negotiations with external investors or lenders - the study will demonstrate the prospects of your business and the profitability of the attracted investments. Market research proves that your business idea is viable and implementable.
What do we offer?
We provide comprehensive market analysis and expert advice on achieving your company’s business goals.
Study of the niche and its prospects - we conduct a detailed marketing analysis of the industry, considering the regional localization and features, and explore development opportunities to understand market prospects. The analysis takes into account market value, demand, and need. It is vital to make sure that people care about what you offer.
An essential aspect of the work is the study of problems and difficulties affecting business development, such as lack of infrastructure, poor logistics, and other obstacles.
Customer analysis - we study consumers of manufactured goods/services on socio-psychological (lifestyle, interests, motivation, status in society), demographic (gender, age, education, income), and geographical factors (region of residence and its characteristics, local regulations, and legislation).
For analysis, we use effective methods of data collection - interviews, observations, focus groups, and personal and digital surveys. Such a detailed study allows for forming a complex portrait of the target consumer and, in the future, producing a segmentation of the audience and division of the market by sites.
Analysis of the competitive environment - we study the market from the point of view of sales of goods and competitors, and we collect structure and process data. Armed with such data, you will be able to minimize the risks of failure in the market and select the most relevant niche in your capabilities, as well as highlight your unique offer and values important to your customers.
When analyzing the competitors' market, we take into account the price level, product range and quality, suppliers and partners, marketing channels, and promotion strategy. We also analyze personnel structure.
Market analysis from the point of view of opportunities and risks - we use effective methods of risk analysis: SWOT analysis, PEST analysis, and method "Porter's five forces" to assess potential threats, political, economic, social, and technological factors that affect the company, as well as the degree of influence of suppliers, customers, competitors and the hypothetical threat of a product/service substitute for your offer. The study of these factors helps to determine the effective tactics and strategy of the company in the market.
Sales analysis - at the request of the company, we conduct research on the profitability of sales and conversion to assess the effectiveness of the business, identify problems in the chain of interaction with consumers, determine the direction of the company’s further movement, and revise (if necessary) the pricing policy.
Deep and extensive analysis of sales is possible with complete data of business and digital analytics: average check, shopping basket, net profit and revenue indicators, website conversion, number of returns, attendance, etc.