A good business idea is half the battle. The second half is the study of the environment where the idea will be implemented, and the answer to the question of how to conduct a market analysis. Without this information, it is impractical to implement the idea. It is better to study the market picture before money is invested in a new business - this will save the business owner effort and money.
The market is a continuous economic interaction between producers of goods and consumers. Market analysis is the study of the indicators of this interaction. Analysts examine customer needs and competitors' offerings. Market analysis is based on the collection, processing and application of this information in the work of the company.
The speaker was Yulia Kalashnikova, Head of the Business School for Children and Teenagers "ChadWork", Chairman of the Committee for the Development of Youth Entrepreneurship at the Regional Union of Industrialists and Entrepreneurs.
The master class was devoted to the analysis of segments and trends of the potential market, analysis of analogues and competitors, methods of researching segments of the potential market.
“Understanding market trends is essential for successful business development. Consumer demand is influenced by the price level, inflation, availability of goods/services and other factors. A detailed market analysis helps to choose promising areas of business activity, evaluate competitors and know in what way the preferences of buyers will change in the long term,” the speaker noted.
Market analysis is an in-depth study of one or a combination of industries to obtain information about the potential, capacity, conjuncture, saturation, consumer behavior and price dynamics. In simple words, this is the study of all the properties and characteristics of a particular market. The analysis gives measurable quantitative and qualitative results. The information obtained is important for developing business plans, launching a new product, and scaling the company's activities.
Дата новости для фото:
23.11.2022
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