IV.

MARKET
IDENTIFICATION
AND ANALYSIS
JEHNLYN BEATRIZ RAMOS
RALYN MENZI
MARKET
• group of consumers or organization that is
interested in the product, has the resources to
purchase the product, and is permitted by law and
other regulations to acquire the product.
• Simply any group of actual or potential buyers of a
product.
THREE MAJOR TYPES OF
MARKET
1. CONSUMER MARKET

Individuals and households who buy goods

for their own use or benefit are part of consumer
market. Drug and grocery are the most common types
of consumer products.
2. INDUSTRIAL MARKET

Individuals, groups or organizations that

purchase your product or service for direct use in
producing other products or for use in their day-to-day
operations.
3. RESELLER MARKET

Middlemen or intermediaries, such as

wholesalers and retailers, who buy finished goods and
resell them for a profit.
 WHERE PRODUCTS ARE NEEDED
AND USED MOST
The key to identifying a target market lies with
defining specific sources where products and
services are most needed and also most used.
UNDERSTANDING HOW VOLUMES
AND QUANTITIES IDENTIFY
TARGET MARKETS
To properly identify target markets, it is
necessary to perform thorough market research
on the volume of products and services sold and
used over a broad demographic area.
STUDY SOURCES OF RAW MATERIALS AND
IDENTIFY COMPETITORS

When a product-oriented business knows the source of

raw materials, they also identify the users of these raw
materials. It is also a way of identifying competitors for
market share and those that may represent their
greatest competitor for the target markets.
STEPS TO IDENTIFY TARGET
MARKETS
1. Defining sources where products and/or services are
most likely needed.
2. Researching the volume of products and services sold
and used over a broad demographic area.
3. Studying sources of raw materials that are required
to produce products or services.
4. Identifying major competitors to determine the
location of target markets.
 MARKET ANALYSIS
• A market analysis is the process of gathering
information about a market within an industry. Your
analysis studies the dynamics of a market and what
makes potential customers tick.
• A market analysis may seem complex, but it’s
necessary if you want to lead your business in the
direction of success.
• Your market analysis can make or break your startup.
Analyzing markets helps you reduce risks because you can
better understand your customers and market conditions.
• Your analysis also helps you clarify what makes you different
from the competition. That way, you know what makes you
stand out. Or, you know what you need to do to set yourself
apart.
• Whether you’re starting a venture, introducing a new product,
or growing your small business, market research can help take
you to the next level.
 HOW TO CONDUCT A MARKET ANALYSIS

1. Determine the purpose of your study.

2. Look at your industry’s outlook.
3. Pinpoint target costumer.
4. Compare your competition
5. Gather additional data
6. Analyze your findings
7. Put your analysis into action