Topnewspro.com The “Market Analysis” report has been added by Logic Research and Solutions.
Brand image or popularity and Stardom does not get in a single day or in a single moment. You have some special thing within you by which you can create a brand and the rest of the other important things.
A basic need of all companies behind analyzing market is to find what value they have in the market and in the minds of their customers.
So in simple words market analysis means analyzing actual need, purpose, and necessity of the company and the company can any like a service sector or a commodity sector. Both are using different methods but the motive behind that can be different.
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- To find the actual need for analyzing the market.
- How the company can serve more than its competitor
- How the product can be positioned or placed
- How a company can create an image in the minds of customers.
- What kind of strategies can be used to become the best brand?
Customer group identification:
According to the category of your product group of the customer can be identified. According to customers requirement product can be made or offered. For finding the market king i.e. customer one should have some criteria or target behind making group of customer. Because, “Product can be made but Customers…. you have to create”. Now a day’s people became like to be on social networking rather than on mail and another traditional medium. If you are an online marketing company they should possess some extraordinary qualities to attract customers towards you.
Identify their needs:
After identifying a group of customer whom will be your target firstly you have to find their needs.
For a gaming company what will be the need of customer that the best quality, speed, technology and something very unique game should be their;
By which customer can do their fun and also enjoying the game? Again the need for buying games will be different totally from drinking coffee or eating some food. While targeting customers and their needs, wants and desire some criteria should be their like age, gender, disposable income, like, dislikes, preferences, lifestyle, psychology, perceptions, attitude etc.
Who is our competitor?
In a given article some best examples are given like best coffee sellers in the USA and according to their brand popularity, they have done some comparison. So firstly the company should find their competitors, their strategies, policies, customers group, Products etc.
Today also Indian people see first the price of the product and according take purchase decision. It is a psychology of their perception about the product. Now the different trend is coming, new lifestyle people are accepting or enjoying and according to that changing attitude of customers, the company has to design their plans, policies, and strategies and keeping the price of the product or service.
Trendy, attractive and eye-catching things are taken or accepted nowadays. So companies have to create some catchy tagline which can be remembered for a long time.