Market Analysis studies the attractiveness and the dynamics of a special market within a special industry. It is part of the industry analysis and thus in turn of the global environmental analysis. Through all of these analyses, the strengths, weaknesses, opportunities and threats (SWOT) of a company can be identified. Finally, with the help of a SWOT analysis, adequate business strategies of a company will be defined.
The Market Analysis is also known as a documented investigation of a market that is used to inform a firm’s planning activities, particularly around decisions of inventory, purchase, work force expansion/contraction, facility expansion, purchases of capital equipment, promotional activities, and many other aspects of a company.
Marketing analysts collect and interpret information about market conditions and consumer behaviour to help businesses make less risky decisions when launching new products, pricing products and services, and entering new markets. Gather information on competitors, and conduct analysis on their sales, prices and methods of distribution and marketing to thoroughly learn about the competition
Market analyst is responsible for studying market conditions to assess the potential sales of products and services. The successful market analyst will be able to analyze qualitative data, trends, strategies, and competition aiming at increasing competitiveness. The majority of market analysts are employed by marketing agencies varying in size within different companies and industries.