A market analysis is the statistical study of certain numeric data followed by its qualitative exploration. Locating the weak points of the business in the market and mending them with relevant solutions is the main aim of this kind of analysis. The analysis directs the modelling of strategy and applies it in a scrutinised format to improve certain particular functions.
Sample Market analysis example
Market Analysis of Bruce’s Exclusive Golden Collections
Date of submission: 07/01/2012
Market Analysis commissioned by: Charles Laudish and Enid Alberts.
Purpose of the analysis: The analysis has been undertaken to check the viability of establishing a gold shop at the Hamberland Complex. This area being located at the prime destination is considered to be the best possible location for the establishment of this shop. The environment is suitable for professional dealings as the prevalence of the customers is random.
- Location: The Bruce’s Golden Collections is to be established at the Newland Plaza, Hamberland Street, Palm Avenue, USA.
- The location seems to be ideal as it is located at the most posh area of the Street. Ample number of customers has been noted to visit this plaza as it is one of the most popular ones in the area.
- Though presence of other similar contemporary stores endorses a tough competition for the store, the introduction of interesting schemes would be beneficial.
Overall Summary: The outlet can be safely established in the area. However, exclusive offers and gold schemes are to be provided at the initial stage to attract the customers.