What’s the purpose of a market analysis and how is it done?
The analysis of the demand and of the offer are an integral part of a market analysis that, together with a marketing plan, represent a core instrument to delineate an effective3 strategy based on the complexity of the market and a check of the competition’s positioning
The development of a successful business idea must necessarily begin from a structured market analysis of the referred market. Many times the process of creation a new product begins without preventively asking ourselves which are the needs of the client, not reaching the right market segment, where there is the most interest in the product/service.
Jeme, active in this segment since 1988, is specialized in strategic consultancy and uses professional methods to conduct market analysis.
What’s the purpose of a market analysis
The market analysis allows to understand to whom call on on the market; it allows to answer the question: “Who are the final clients for the solutions I can offer?” The paradigm for which someone can offer the whole gamma of products to all potential clients results, in our times, antiquate. It is thus necessary to create a gamma of products or service ad hoc, which can answer to the specific needs of every market segment. Market analysis provide the answers to the questions “who” and “what”, the Marketing Plan (info piano di marketing) allows, instead, to understand how.
How is a market analysis done?
Market analysis is composed mainly of two phases: analysis of the demand and of the offer.
– Deman Analysis: Its main purpose is to understand who are the clients interested to the product/service offered and the characteristics of the market of interest. Generally there are two macro-categories of markets: the first one is the one which the client is another business or, generally, an industrial client (Business to Business or B2B), the second one is aimed at the customer or retail client (Business to Consumer or B2C). The strategies adopted vary a lot in realtion to the client chosen, so it is necessary to understand in which category the client falls. It is not rare that businesses operate both in B2B and B2C: in this case it is fundamental to differentiate the strategies adopted to avoid pointless expenses in the two markets (efficiency) and to try to obtain the best effect in terms of net sales in bot (effectiveness).
– Offer Analysis: This analysis is aimed at understanding if in the the market, or in similar ones,there’s already an offer of the same product/service. It is important to evaluate the competition’s positioning, since depending on the complexity of the market and the number of businesses partaking in it, there exist different strategy of entry and positioning. Being a tailored-made service it is not possible to determine the time lapse standard to build an analysis, since it is strongly related to the market in question.
Why market analysis
The analysis of demand and offer is, sometimes, made together with an STP analysis (Segmentation, Positioning, Targeting), which allows to delineate the characteristics of the business idea. It allows to understand who are the key clients and how they can be reached. Combined with an effective Marketing Plan, it allows to elaborate an effective strategy aswell. In strongly competitive markets like those of today, the wrong choice of clientele can make the difference between a successful and a failed business.
Starting from the idea or business model of the client, JEME offers market’s segment studies both nationally and internationally thanks to its cooperation with the European network of Junior Enterprises. Moreover, the business is helped in the positioning phase through an analysis and penetration esteems of the market, identifying its competitive advantages. JEME Bocconi student is able to offer highly personalized solutions, in spite of the competitive price compared to the traditional consulting firms.
JEME got particular recognition for a market analysis conducted in four major Italian cities, for a big multinational firm active in the private equity sector. The analysis comprehended the gathering of a great amount of data through primary sources and a big task of searching through secondary sources. JEME’s team was able to finish the project in a short time (following the client’s needs), presenting an extremely reliable and of quality output.
Trust JEME to redact a complete and detailed Market Analysis in order to best plan all marketing actions
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