Dimensions of Market Analysis
David A. Aaker outlined the following dimensions of a market analysis:
- Market size (current and future)
- Market Trend
- Market growth rate
- Market profitability
- Industry cost structure
- Distribution channels
- Key success factors
- Key success Details
The goal of a market analysis is to determine the attractiveness of a market, both now and in the future. Organizations evaluate the future attractiveness of a market by gaining an understanding of evolving opportunities and threats as they relate to that organization's own strengths and weaknesses.
Organizations use the finding to guide the investment decisions they make to advance their success. The findings of a market analysis may motivate an organization to change various aspects of its investment strategy. Affected areas may include inventory levels, a work force expansion/contraction, facility expansion, purchases of capital equipment, and promotional activities.
Read more about this topic: Market Analysis
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