Characterization of the Market

Based on the information gathered from secondary sources and

through the market survey, the market for the product/service
may be described in terms of the following:

Effective demand in the past and present for Product / Service.

• Market Segments/ Breakdown ofdemand
Price
Methods Of distribution and sales promotion
Consumers
Supply and competition
Government policy
What is Market Survey ?
The secondary information need to be supplemented with
primary information for market and demand analysis.
The market survey may be census survey or sample survey.
In Census Survey, the entire population is covered. Heret the
word, population means the total units under consideration in
a specific study, In some study, the census survey is costly and
may not be feasible.
In such conditions, a sample of population is contacted and
relevant information is collected. On the basis of such
information, the conclusion about the population under study
can be drawn.
Meaning of Secondary Information
Secondary information is information that has been
gathered in some other context and is readily available.
Secondary information provides the base
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starting point for the market and demand a indicates
what is known and often provides leads and cues for
gathering primary information required for further
analysis.
The primary information on the other is the information
which is collected 1st time for a specific objectives.
Situation Analysis
Situation analysis refers to a collection of
method that managers use to analyze an
organization's internal and external environment
to understand the organization's capabilities,
customers, and business environment.
Scope of Situation Analysis
Internal Analysis
• The internal analysis is a thorough knowledge and
understanding of the strengths and weaknesses within an
organization.

D These factors are seen in company culture and image,

organizational structure, staff, operational efficiency and
capacity, brand awareness, financial resources, etc.
Strengths are positive attributes, which can be tangible or
intangible, and are within the control of the organization.
Weaknesses are factors that may hinder the achievement of
the desired goal
Areas of Internal Analysis
 Financial position
Product position
Marketing capabilities
Research and development capabilities
Organizational structure
Human resources
Facilities and equipment

Both can occur when things happen in the external

environment that may require a change within the business.
These external changes can be attributed but not limited to
market trends, suppliers, partners, customers, competitors,
new technology and economic environment.
Opportunities present themselves as attractive factors that
can propel or positively influence the organization in some
way,
Threats are external factors that could place the
organization's goal at risk.