Market Analysis is the process of understanding the market environment, including customer behaviour, competition, industry trends, and potential opportunities or threats. It involves:
Assessing industry and market trends.
Identifying target markets and consumer preferences.
Analyzing competitors and their positioning.
Conducting a SWOT analysis.
Estimating market size and growth potential.
Market Strategy is the plan developed based on market analysis to effectively reach and engage the target audience. It includes:
Segmentation: Dividing the market into customer groups.
Targeting: Choosing which segments to focus on.
Positioning: Differentiating the brand or product.
Marketing Mix (4Ps): Product, Price, Place, and Promotion strategies.
Sales & Distribution Channels: Identifying how to deliver the product to the market.
