The marketing industry analysis is an important step that business institutions take up in order to remain informed and updated about the different market trends and the possibility of attracting further consumers. Such an analysis is done periodically in order to ascertain the profitable introduction of a new product or simply to study specific market trends for the company’s benefit. This takes into account the particulars like market segmentation, size, existing purchase and supply, demographics etc. This method helps in linking the consumers with the particular company. The marketing industry analysis also helps in preparing for possible risk factors that might be detrimental to the business. It is important to hire experts for conducting such a research.
Sample Marketing Industry Analysis:
The following marketing industry analysis has been conducted by GRWQ Assessors Ltd.
Name of Company: LTY & Sons Ltd.
Product name/ code: XY Drilling Tool
Date of Analysis: 12.3.2011
Purpose: To assess and understand the possible revenue to be earned with the launch of the XY product. The analysis will take into account the favorability or hostility of the target market with response to this product.
- Target Market: Domestic Drilling Services
- Existing Market Share: 15 %
- Potential increase of the market share with the launch: 0.09%
- Total Cost of Implementation: $30,000-$ 45,0000
- Possible Profit Percentile: 0.7%
- Positive Feedback: 0.11%
Marketing Industry Analysis:
The launch of the product will ensure revenue collection but there might be certain loss faced towards the beginning which will stabilize eventually.