Market Situation

This subtopic of the situation analysis section provides information on the size, growth, and trends of the overall market and any relevant segments of the total market or category.

For example, local business could include local industry sales or volume for the last five years and estimated total market for this year and the following year, with company sales and share of the market.

Market Growth: This topic would tackle the questions of is the market growing? Is it static or is it shrinking? After gathering the necessary data, analysis can be drawn out to forecast total market growth for the next five years.

With the forecast made available a more detailed marketing strategy can be drawn, if the market is static what should you do to increase your sales?

Market Segmentation: Effective marketing and sales initiatives require a thorough understanding of your target markets and channels. We can help you concentrate your resources where they are most effective using thorough research and analysis. We'll help you get a better understanding of factors critical for marketing and sales success

Market Trends : Understanding the market patterns or trends may enable you to "get ahead" of your market and allow you to know where it is going before it gets there. Seizing a potential window of opportunity can be critical to establishing a competitive advantage. Timing is critical to any marketing strategy. One good example is the iPod from Apple Computer Inc. The iPod accounts for 75 percent of all MP3 players sold in the United States, according to the NPD Group Inc. Apple has shipped 21.8 million iPods since Jobs introduced the player in October 2001, with 18.1 million units sold in the last four quarters alone.¹ When Apple first introduced the iPod in the early 2001, many people doomed its future but Apple Computer Inc persisted because they are able to foresee the market trends which led them to today’s 75% mp3 market dominance.

¹ http://www.financialexpress.com/fe_full_story.php?content_id=99345