Sales & Marketing Management

Uses for the market analysis

You make use of the market analysis when you are:

Carrying out a market analysis

The marketplace is constantly changing and a business must be constantly
adapting to the changes or it will not remain in business for long. Researching
the marketplace is important because it will indicate how developing or future
changes in the market may affect any market segments within your business, or
your business as a whole.

We use three heading for carrying out market analysis:

A. Research

B. Analysis

C. Draw conclusions

A. Research

Determining or reassessing your business’s offerings

Preparing a business plan

Designing a marketing plan

Writing a financial plan—forecasting, planning, and budgeting the future

course of the business

Writing the short-term goals and outcomes of the business for the next 12–

18 months

Research is divided into three parts:

1. Setting the perspective for your research


2. Locating the information for your research


3. Research questions