Description
TOPIC 1: Market Analysis
What are the elements of a comprehensive market analysis? Read the article under Week 3 Learning Module.
This article begins with the important steps of segmenting and outlining the dimensions of a market and discusses eight required elements.
Do you think each step in segmenting is equally important? Why or why not?
TOPIC 2: Marketing Analysis
As a critical piece of the marketing plan, the market analysis needs to include a clear analysis of the market segment, target population, and forecast for success. Author Tim Berry discusses these factors.
http://www.mplans.com/articles/market-analysis-is-the-foundation-of-the-marketing-plan/
What did you take away from this article? How will it help you in your group project? ( Group Project description to help answer the question: You will research and prepare a marketing plan for a market follower with the objective of gaining significant market share over the next year. The subject of your marketing plan will be determined based on the results of the competitive analysis assignment. )
TOPIC 3: The Product Portfolio
The Boston Consulting Group presents a concise analysis of considerations related to the composition of a balanced product portfolio.
https://www.bcg.com/documents/file13255.pdf
Why is this important?
Explanation & Answer
Attached.
Running Head: MARKET ANALYSIS
1
Market Analysis
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Course
Institution
Date
MARKET ANALYSIS
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Market Analysis
Topic 1: Market Analysis
Market research is a crucial element of a business plan in which business owners'
document their business ideas in writing. A comprehensive market research creates the basis
for the marketing strategy growth along with measures for concrete promotion (Berry, 2009).
Several elements of in-depth market analysis would lead an organization into success. One of
the core elements of a market analysis is the strategic market segmentation, which involves
dividing the potential customers into segments, or groups based on several features. The
segmentation strategy aims at creating sub-segments of the target market, which are
considered pure to handle and manage. I feel that the process of market segmentation together
with steps involved in it are equally...