Lecturer’s Date: Market Analysis Introduction Market analysis is a procedure that aims at studying the dynamics and the attractiveness of a unique market in a unique industry. This is a process which is part of a company in which the strengths, weaknesses and threats of the company can be identified…
Information provided mainly helps a firm to make decisions on fields such as purchases, expansion or contraction of work force, inventory, promotional activities and expansion of facilities among other important fields that require decision making process in an organization. From this perspective, market analysis is useful to any organization because it acts as a guide through to how activities will be carried out in the firm. Without this process of analyzing the market, a company is not in a position to make decisions and know what products to distribute in the market. It is the demand in the market that guides firms on what to produce this means market analysis is of importance to every firm since the aim of a firm is to make sales and earn profits rather than experience loss. Marketing research is important in decision making as it plays some roles in the system of marketing. Marketing research is part of the intelligence feedback procedure of marketing. This research process helps to provide information used by decision makers to help them make necessary changes in regards to the situation of the market mix. Marketing research also acts as a means for carrying out exploration of new opportunities. In this case, new product research and segmentation research help to identify the most profitable opportunities in the market place (MacDaniel, 5). It is therefore; clear that market research is useful as managers of different companies undertake this process so that they can make decisions on how to run their daily activities. This is a process that provides information on the situation of the market making it possible for managers to know the changes of demand in the market for them to change their supply rates. This implies that companies that use market research technique as a guide are able to avoid surplus production meaning they always produce what is needed in the market and in the correct amounts to avoid wastage and loss. There are various dimensions that are usually included in the nature and content of analyzing a market. According to Aaker these dimensions are: Submarkets that are emerging The definite and prospective size of the market and submarket. The growth of markets and submarkets. Profitability of the markets. The structural cost. Nature of distributing systems. Changes in developments and trends, The major success factors. The major success details. These are the dimensions that are mostly used in the modern society market to identify opportunities, strategic uncertainties and threats that are there in the markets so as to control production for the betterment of the company (Aaker, 61). BIOTOP is an Austrian company offering Natural Swimming Pool services. These services were initiated in Austria and have with time been extended to other parts including nations outside Austria. There has been significant growth in this industry since it was initiated, as many companies offering the same type of services have been developed. With the development of these other companies it is clear that this BIOTOP Company faces competition. This essay will major on providing information on analysis of competitors of BIOTOP companies in the Unites States market. The two major competing companies that will be discussed in the essay are BioNova and Gartenart companies. One among the many companies that compete against BIOTOP ...
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(Marketing Analysis Essay Example | Topics and Well Written Essays - 1500 Words)
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