Easy creating 1 detailed “Marketing Analysis”- Academic vs Business?
- 1. Change Management – MTC Ltd case study – Master assignment
- 2. Contemporary Strategic Management Concepts – VRIN + VRIO = SCA
At university, in both master and bachelor degree, you could face with the business assignments that has the same topic as the question above many times.
Or, in job your task will create marketing analysis report for your managers or customers with words and time limitations.
However, sometime you can not control your work load and satisfy the unit’s requirements on the assignment.
This is because the topic is too general and you do not know how to start writing to cover all requirements from the unit. Therefore, this topic will help you to solve the problem.
Besides, there is a list of related articles that can support you to understand the term of marketing clearly. There could be courses or practical cases study or general knowledge.
For easy to understand, you can start from general knowledge to training courses and cases study.
- General knowledge will help you to understand some definitions or questions that you can be confused from.
- Next, training courses will help you to understand how the general knowledge apply to the practical contexts.
- Then, case study will help you to analyse the practical issues in specific business environments.
What is “Marketing Analysis”?
A marketing analysis is a study of the dynamism of the market. It is the attractiveness of a special market in a specific industry.
Marketing analysis is basically a business plan that presents information regarding the market in which you are operating in. It deals with various factors and should not be confused with market analysis.
What is “Marketing Analysis” report?
In the report we should focus on Dimensions of marketing analysis. These key points below will support you to write your report enough ideas in details.
There are certain dimensions which help us to perform a marketing analysis. These things help us understand the market we operate in better. These dimensions include;
- Market Size
- Growth rate of the market
- Market trends
- Market profitability
- Key success factors
- Distribution channels
- Industry cost structure
Market Size – The size of the market is a key factor in a marketing analysis. The bigger the market the more competitors you are likely to have.
For a big market, you need to make sure your products and services stand out.
Otherwise, the customers can easily switch to a rival product. Not only that, a bigger market makes you rethink your pricing policy.
- Set your price too high then you are going to lose your customer base to other competitors.
- Set it too low and people will think that you are just providing cheaper poor quality goods.
If the market size is small then you can get away with charging a high price. All these facts are kept in the marketing analysis. Based on that you go ahead with your marketing plan.
Growth rate of the market – The market growth rate is a huge factor in any sort of marketing analysis.
This is because you get the idea of how long the said market will last.
Before you make an investment you need to analyze the market’s growth rate. If it is likely to grow over time then you can invest more in it.