MARKET

STUDY
Rendon
Leader:

Members: Calderon
Duarte
Gazo
Manriquez
Pevida
Sapero
Market Study
• a study that analyzes demand for a particular
product or service.

• a research done to review market conditions in

a specified area, as well as a study of the
economic forces of supply and demand, risks and
values.
Importance of Market Study / Research
1. Helps develop successful marketing strategy.

2. Provides essential information about your

competitors and existing products.

3. Helps reduce risk.

Market Size
• total size of the market that you can reach with your
distribution channel.
• the number of individuals in a certain market
segment who are potential buyers.

How to determine / calculate Market Size

1. Define your target market
to predict the size of your market, you need to know
the type of person that your product or best suited to.
2. Use Market Research to Asses Interest in your product
one way to do this is to focus on competitors who
target the group of buyers.

3. Calculate Potential Sales

develop a financial model of your business using the
data you have gathered.
Nature of Market Study
Nature of Market Study - Market studies should
include a (1) description of the industry, (2) current
market analysis, (3) competition, (4) anticipated future
market potential,, and (5)sales projections.

1. How to Write an Industry Description

Give a brief, one- to two-paragraph description of
the industry your business is in. Determining your
industry is essential for receiving government
contracts, attracting investors, and for receiving
grants if you form as a nonprofit.
2. Analyzing Your Current Market
This section describes the current market for your product or
service.
If you are offering something so unique that there are few
market statistics, you can either use related industry
information or conduct your own independent study.
Several ways to conduct your research for new ideas includes;

• Polling internet forums

• Sending out questionnaires addressed to targeted consumer
groups or the general population,
 • and customer surveys.

Any solid evidence you have that there is a demand (or

market) for your product or services will help you sell your
idea.

3. How to Research Competition in Business

Consider their locations, business hours, and how long
they have been in business. These things can help you
determine how hard it will be to establish a similar
business in the same geographic area. .
 You should also make a note of any similar businesses in your area
that has recently gone out of business. There may be a reason such
as poor location, high taxes, operating restrictions, or not enough
demand for the product or service in that area to sustain a
business. Researching local competitor information can tell you two
things: what works now and what has not worked for other
businesses.

4. Anticipated Future Market Potential

This section should include a narrative description, as well
as attached spreadsheets, graphs, or tables showing
trends, statistics, or projections.
 Ways to tell if an industry will have measurable growth in the
future;

• based on trends
• past growth
• and current markets.

5. Sales Projections
A sales projection is the amount of revenue a company
expects to earn at some point in the future.
Ex: You own a carwash. In April, you project you will
wash 800 cars. A car wash is $15. So 800 cars X $15
per car wash = $12,000 sales projection in April.
Growth of Total of Demand of the product
DEMAND
Refers to consumers desire to purchase goods
and services at given prices.
5 Ways to Measure Product Demand
1. Past Demand Analysis
By reviewing past sales records and adding up the total
sold units over a given time period, businesses can isolate
seasonal spikes or dips in sales.
2. Marketing Projections
When a company increases its marketing efforts, the
inventory will also need to be adjusted to meet the
influx of demand caused by the new incoming
customers.
3.Competitor data
Creating a competitive pricing strategy for similar products or
newly developed items by analyzing competitors' demand will
provide a stable starting point for demand forecasting.
4.Global Economic Trends
It is also important for businesses to pay close attention to
the state of both local and global economic trends. Periods
of local economic struggle or a global depression can affect
product demands to varying degrees.

5.Recent Performance Estimations

Estimating future purchases based on recent sales
performance can be helpful, especially for new product lines
without historical sales records.
Key Factors that Affect Product Demand
1.Price
The relationship between the product's price and the
demand for its quantity is generally inverse, with the
demand decreasing as prices increase
2. Income
The income of consumers greatly affects their
purchasing power, which can directly influence the
demand for a product.
3.Consumer Preference
The preferences of consumers can be connected to
factors such as habits, trends, standards of living,
demographics, lifestyles, and more

Related Goods Price

There are two types of related goods to consider-
• Substitutes
• Complementary Goods
4.Consumer Expectations
When consumers expect the price to change for a product
in the future, the short-term demand for that product
may be affected.

5.Advertisement
Marketing catches the attention of consumers to
inform them of products and promotions and
persuade them to make purchases.
6.Population Growth
This factor is relatively simple - with more people, the
capacity to consume also increases, which leads to
higher market demand and a larger target audience.

7.Government Policy
Governmental regulations, such as high tax rates on a
product may increase the price point of an item, which can
consequently lower the demand for that product.
8.Climatic Conditions and Seasons

Seasonality can also positively or negatively affect

the demand for products
DESCRIPTION OF THE PRODUCT
A product description is a form of marketing copy
used to describe and explain the benefits of your
product.

Describing A Product
• Indicate why your product or service is needed.
• Highlight the features of your product or service.
• Focus on benefits.
• Be clear and concise.
• Show off your expertise, experience, and
accolades.
• Be the expert, but talk in layman’s terms.
• Indicate anything extra special about what or
how you’ll provide your products or services.
• Write as if you’re talking to your customer.
PRICE OF PRODUCT TO BE SOLD

• Know the market.

• Deciding your pricing objectives.
• Work out your costs.
• Consider cost-plus pricing.
• Set a value-based price.
• Think about other factors.
• Stay on your toes.
Supply
-is the quantity of product or service a business has to
offer to its client at a particular point in time.

Supply management
- the ability to research, source and maintain the
resources necessary to run a business efficiently.

Supply and Demand

-is the theory behind how the market can allocate
resources according to the needs of the many in the
most efficient way.
 Supply Chain Management Click here to add subtitle
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-Supply Chain Management is hugely important to every company,
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especially if they manufacture or store their own stock.

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within and outside of the company.

Best Practices of Supply Chain Management
1. Implement Technology -the company needs to have
technologies and softwares.

2. Maintain Great Supplier Relationships - Suppliers are so

important to the success of a business that it is too costly to
have a bad relationship with them.

3.Total Cost Over Price - A great Supply Chain Management

department looks at the total cost over the cost of purchasing
from a supplier.
5.Review and Track - Data is an ever developing area in all
elements of a business and Supply Chain Management is
included in this.

6. Be Socially Responsible- Companies need to look at different

ways they can help their local communities and those in need
across the world.
NATURE OF COMPETITION
Competition in business- is the contest rivalvry among
the companies selling similar products and or targeting
the same target target audience to get more sales,
increase revenue and gain more market share as
compared to others.

The COMPETITION plays a significant role in in

market analysis. A competitive analysis help to size up
your competition by identifying their strength and
weaknesses in comparison to your own and to find a
gap in the market
Types of Competition
• Direct competition- a direct competitor offers the same
products and services aimed at the same target market and
customer base, with the same goal of profit and market
share growth.
• Indirect competition- an indirect competitor is
another company that offers the same products and
services.
• Potential or replacement competition- this are
vendors who have the ability to replace the business offering
altogether by providing a new solution.
 Importance Of Business Competition
• Makes the business realize its actual
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weaknesses.
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• Makes the business focus on more than just the

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offering; in marketing, branding, customer service, and
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customer retention.
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Benefits of business competition

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• Increase the demand

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• Boost innovation
• Helps business find its competitive advantage
• Make businesses serve customers better
• Makes employees more efficient
• Boost
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MARKETING PROGRAM
TARGET MARKET (Customer Profile)
A marketing program is all the people, processes,
technologies and activities involved in making
connections and building relationships to achieve
an end goal.

A marketing program is a coordinated, thoughtfully

designed set of activities that help you achieve
your marketing objectives.
Marketing objectives
Marketing objectives are goals set by a business
when promoting its products or services to potential
consumers that should be achieved within a given
time frame.

When setting objectives, it is very important to

ensure that they are specific, measurable, attainable,
realistic and time-specific. These are often called
SMART Goals.
SMART GOALS

or Attainable
Marketing Mix

The marketing mix refers to the set of actions, or

tactics, that a company uses to promote its brand or
product in the market.
The 4Ps of Marketing Mix
• Product

is what you sell, whether it’s a physical product or a

service

• Price
the quantity of payment or compensation given by
one party to another in return
•Placement

is where and when you present your product to

customers

• Promotion

the methods used by a business to make customers

aware of its product.