Why does your business need marketing analysis?
Modern entrepreneurs operate under instability and increased risk. Therefore, the critical issue is to obtain reliable, actual and relevant information. That is why modern entrepreneur works so hard on establishing the proper marketing analysis. Marketing analysis is a must for each business which is oriented towards long-term planning and achieving goals. The famous phrase “Who owns the information, owns the world has become true.
Every person wants to have reliable information, entrepreneurs included. Particularly marketing analysis order makes sense at the stage of creating a business, developing and implementing new projects. Possession of the necessary data enables minimizing risks and choose the optimal development strategy.
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Learn your strong and weak points, as well as chances for further development
For continuous development and growth, it is necessary to constantly monitor key vital business signs. These are not only financial indicators, but also indicators of marketing performance, quality of the sales procedure, product portfolio balance, personnel management efficiency, and others.
Important parameters of the marketing analysis are its complexity, consistency, and objectivity. In order to achieve maximum objectivity, it would be better to leave marketing analysis to external companies. The analysis is an integral part of the functioning of any business. The systematic analysis allows timely identification of problems and opportunities for the company, choosing or optimizing the development strategy, minimizing risks and strengthening the company’s position in the market. The marketing audit is a foundation for any reliable strategy, as it needs to be built on something checked and true.
Marketing analysis features
Consumer segmentation, selection of target market segments, construction of a consumer portrait based on the analysis of age and gender, social and other actual parameters, as well as the study of behavioral characteristics.
The subject of research is the motivation of consumer behavior in the market and its determining factors. We study the structure of consumption, consumer trends, the level of customer satisfaction in a particular product.
In addition, consumer analysis allows us to study how consumers are aware of your product, how they perceive it, and what the current and potential brand loyalty is.
Analysis of the company’s place in the market
To build an effective strategy for changing key business parameters and indicators, it is necessary to analyze the current position of the organization in the market environment. In addition to traditional methods of studying the company’s place in the market (production volumes, distribution channels and consumption in the market), there are a number of new solutions for understanding the effectiveness of the sales department.
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Competitor analysis service
The choice of ways and opportunities to achieve the most favorable position in the market relative to competitors is very important.
It analyzes the strengths and weaknesses of competitors, examines their market share in dynamics, assessing the competitive situation, as well as choosing the most optimal marketing policy to achieve maximum competitiveness compared to other companies (brand portfolio, product promotion strategy, advertising and marketing activity) consumers on competitors’ marketing tools (product development, price changes, market introduction of new brands, service development).
The product range is developed in accordance with the requirements of customers, increasing the competitiveness of products, etc. The analysis of the characteristics and quality of goods, compliance with the demands and requirements of consumers, the competitiveness of goods is held.
Key retail options monitoring
It means analysis of the range, prices, distribution channels, and advertising tools in retail outlets for the studied product group. Here belongs monitoring of prices, assortment, representation level in retail outlets in a changing market situation and taking into account the activities of competitors, development of recommendations for planning the pricing policy of the brand, product range.
Advertising and sales promotion systems analysis
It includes monitoring of the media, the study of the publications effectiveness in the press, commercials on television and radio in general, with the allocation of individual advertising media, the impact of advertising on consumer behavior.
Stimulating the promotion of goods involves the study of the effectiveness of stocks, discounts, PR-campaigns and other marketing communications. Information is analyzed based on a couple of categories: what is fashionable right now, what rivals do, which policies are applied in the economic field by a country in terms of business activity.
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Marketing analysis company KATASIS offers:
- Analytical market reviews
- Any studies by country and region
- Modern methods of collecting and systematizing information
- Current sources of information
- Individual industry reviews
We use effective marketing research methods:
- Competitive intelligence
- Desk research
- In-depth expert interviews (which is very important when studying narrow areas or innovations)
- Focus groups
- Telephone and polls
- Hall tests
Advantages of working with KATASIS:
- You reduce the marketing analysis cost and time: we have special tested methods of conducting a comprehensive analysis of the situation, the necessary resources;
- You receive objective information about the market: our specialists, who are external consultants in relation to your company, find it easier to obtain independent expert assessments and information about the competitive environment;
- You get specifics in the form of reports, figures, and evidence: we are known as professional financial advisors. The results of our research, first of all, are aimed at obtaining specific calculations for further marketing analysis for management decisions at all levels.