Market analysis is like doing a thorough investigation of the market. The investigation is done to find out the quantitative and qualitative aspects of the market and planning a road map for a company to formally enter into the new market. While doing market research for your marketing assignment or for a Marketing Analysis Assignment Help, your major goal is to determine the attractiveness of a market and understand the existing opportunities and threats.
To study a market, you may take help from professional researchers who are experts of the given market and also understand the dynamics of market research. Also working professionals who are part of the market under study and may have a much deeper understanding can provide consulting which can be very beneficial. Sometimes even reading articles, interviews, white papers of these researchers and experienced professionals providing Marketing Analysis Assignment Help can be great resources to start with.
Some of the fundamental dimensions often studied in market analysis are listed below. Understanding these terms in detail can be very helpful if you are about to write a marketing research assignment or conduct market research:
1. Size of the market: To judge size of the market and future business potential, you can look at data from various resources. It could be articles, research reports, interviews of researches and industry experts. You can also look for data published by government, trade organizations, central banks and even customer surveys of the country under investigation.
2. Current trends: Understanding the market trend is very crucial for your market research. Market trends which can be industry specific or general can be a huge factor in determining your success in the given market. As the name suggests, industry specific trends affects only specific industries e.g.: trend such as reduction in cotton production or increase in import tax on cotton will effect cloth and garment related industries only whereas increasing interest rate trend can increase the cost of borrowing and can therefore effect every industry. As per our Marketing Analysis Assignment Help experts, some of the most used methods to find out the market trend include marketing mix model, risk analysis, choice modeling, product research and observations of consumer behavior, etc.
3. Growth rate analysis: One of the easiest methods to calculate and find out the market growth rate is by extrapolating the historical data. However extrapolation is very crude way of determining the future market growth rate as it cannot account for vagaries in growth drivers such as technology, demography, consumer behavior, changing lifestyles and income levels, etc.
4. Current opportunity and Industry cost structure: Market opportunity for a product or service is sometimes based on a technological advantage of a company. That particular technology advantage creates something that actually satisfies the requirements of a particular market. However, to determine the cost structure of a product/service, porter's five forces play a crucial role.
5. Scope of profitability: Different market conditions provide different scope for profitability. Michael Porter gave an exceptional framework to evaluate the profitability of a specified industry under the given market conditions. The framework explains 5 forces which basically explain the ways to measure a market situation. Porter five forces are:
6. Channels: Our Marketing Analysis Assignment Help experts think that understanding the current distribution channels can provide basic information about how products and services reach their target customers. One can work towards optimizing existing distribution channels which can lead to a fair amount of reduction in operational cost. By innovating new distribution channels a company can gain competitive advantage over competitors and can have great margins due to first mover advantage.
7. Success factor: In order to achieve its business objectives, there are a number of factors that can help an organization. Factors like patented technology, accessibility to unique talent, resources, and innovative channels of distribution can be great boosters and give specific advantage over competition.
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Digital marketing: It is one of the most searched for topics for assignments related to marketing. Students have a keen interest in the digital world which is being reflected in the type of topics chosen by them. Marketing on digital media is one of the safest and quickest medium of promoting ones goods and services. Digital media involves mobile devices, tablets, computers, televisions, etc. Internet or online marketing are some of the terms given to digital marketing. Selecting digital marketing for assignment writing is a good option but you need to understand how to club all the important points in the assignment and to ascertain that no important points are left behind. You can take help of Marketing Analysis Assignment Help experts to complete your marketing assignments.
Ethical marketing: Ethics is all about doing what is morally correct and good for all. When it comes to ethical marketing, it is all about promoting goods and services in an ethical manner. Ethical marketing is the need of the hour as consumers are too smart to point out any grave error committed by a product or services company. It also helps the company in giving a competitive edge in the market as consumers get attracted to their ethical standards. Total assignment help also adheres to all ethical standards while providing a Marketing Analysis Assignment Help.
Direct marketing: Direct marketing as the name suggests involves marketing being done directly with the end consumers. It is very different from the other forms of marketing including online and traditional ways of marketing. In this method the company uses tools like text messages and emails to directly reach the end consumers but this is not that easy as it looks. Consumers may get convinced to buy a product by having a look at the advertisement on a television but he may not be convinced to buy the same product if he reads about it on his email. So, total assignment help has tried to help students with their direct marketing assignments through its Marketing Analysis Assignment Help services.
Relationship marketing: In order to attract consumers towards its goods and services, a company has to initiate a relationship with them. Once the relationship has been established, the company should put in efforts to maintain the relationship for years to come. When there is a good relationship then attracting more consumers is comparatively easier. But an assignment related to relationship marketing does not restrict itself to maintaining and establishing a relationship, it is more than that which can be very tough to write on for students. But there is nothing to worry as they can avail our Marketing Analysis Assignment Help for all tough topics.
International marketing: When the marketing crosses the national boundaries then it is known as international marketing. It is among the most sought after assignments that we at total assignment help come across. The knowledge and information about different marketing techniques applied by different countries is tough to understand. A company who is considering doing an international marketing for its goods and services may have to study a number of factors affecting the international market before it proceeds with its decision. The factors affecting international markets are very different than the ones affecting home markets. Total assignment help has students from all over the world so they are well versed with different marketing techniques applied by different countries.
Social media marketing: Marketing through social media is the best option in today’s tech savvy environment. People of almost all ages are attracted towards different social media sites and companies can promote their goods and services on these platforms for free or by putting in some advertisements. The different form of social media marketing makes it tough for students to write assignments related to it. It is not necessary that all the students are well versed with different social media sites and their features so it’s better to take help from total assignment help for their social media marketing assignments. They can reach out to us and ask for our Marketing Analysis Assignment Help.
Business to business: This is a typical marketing technique where marketing is not done for consumers rather for another company. In other words this type of marketing involves two companies, one the seller and the other buyer. Such marketing technique involves promoting business environment of another company. The buyer makes a purchase basis price and profit instead of the popularity, status, etc. There are different business to business marketing techniques applied by different business houses and industries. We request all our students to reach out us for all their business to business assignments as it is really tough to understand the business environment of different companies.
Business to customers marketing: It is a strategy used by organizations to make the customers buy their products and services. Business to customers marketing is done in order to resolve the immediate needs of the customers where the latter make a purchase without doing a research. To become a successful marketer it is necessary that the company knows the buying behavior of the customer and the market trend. The product and service should be such that it can easily solve the needs of the customers. Business like restaurants, grocery stores, etc. is an example of this type of marketing channels. We have qualified set of experts delivering Marketing Analysis Assignment Help who can work on all your assignments.
There are different concepts used in marketing research assignments and students should be aware about them as they play a crucial role in determining the position of an organization in the market. Some of the concepts are as follows:
Porter’s five forces: The concept relates to five forces which determine the competitiveness and attractiveness of a market. With the application of the concept, an organization is able to ascertain its strength in the market and also look for opportunities of growth. During marketing process the concept of porter’s five forces can be applied in order to understand whether a product or service would be profitable or not. The five forces consists of threat to new entrants, bargaining power of buyers, threat of substitutes, bargaining power of suppliers and rivalry among competitors. If in case you are unable to write an assignment on this concept, reach out to our Marketing Analysis Assignment Help Service.
5 C’s of marketing: The concept helps in determining the strength and weakness of a particular product or service in the industry in which it operates. The concept includes company, competitors, customers, climate and collaborators. As per our Marketing Analysis Assignment Help experts, the concept of 5 C’s helps in making correct decision and forming an appropriate marketing plan. It is a process through which the environment in which a product or service is being launched can be analyzed.
7 P’s of marketing: Marketing mix is a concept used by business houses in order to promote its goods and services in the market. The marketing mix consists of 7 P’s which is place, price, promotion, product, process, people and physical evidence. All these P’s helps in making a successful plan when used and determined appropriately.
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