A market data analysis is an exercise which surveys the trends in the market of a certain company, or of a certain product. There are many aspects to a market data analysis like consumer feedback, analysis of current market reports, and analysis of feedback from business circles and so on. It is quite a comprehensive analysis which must be conducted by professionals who are well versed in the technical aspects of a market analysis. The report of the market analysis must be tabulated properly.
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Sample Market Data Analysis:
Market data analysis conducted by: Market Tools Pvt. Ltd.
Product to be analyzed: Life Insurance Scheme 23
Market data analysis commissioned by: Insurance Company Pvt. Ltd.
Date of conduction of market data analysis: 23rd June 2011 to 23rd August 2011
Date of submission of report of market data analysis: 5th September 2011
Purpose of market data analysis:
- This market data analysis will be an indicator of the market conditions before the launching of the product mentioned above.
- The market data analysis will culminate in a series of reports and suggestions that will determine the time, manner and period of launch of the product as well as the way in which it should be marketed.
- The market analysis report shall be kept confidential within the commissioning company. A non-disclosure agreement has been effected between the participating agencies to ensure the same.
Points to be noted in the market data analysis:
- The presence and progress of competing life insurance schemes and their reception by the market and the consumers.
- The efficacy of the product mentioned above, the standing of the company and the current trends in the market regarding private insurance schemes.