What is focus group market analysis?
Market analysis in China is conducted for the purpose of understanding
the opportunities and risks presented by an existing market in different
regions. Each analysis involves a comprehensive set of research methods, both
quantitative and qualitative. Marketanalysishelpsyourcompany
to identify:
- Size of the
market
- Rules and regulations imposed in the regional
market
- Trade rules and
regulations
- Socio-economic development surrounding the market
- Production areas and points of sale
- Market
segmentation
- Existing key players and potential competitors in
the market
- Performance of existing players or the requesting
clients themselves
- Cost and
profitability
- Global market
trends
- Viable
marketstrategies
For example, if an owner seeks to open a
wine shop in Hong Kong, he/she has to make use of market analyses to grasp the
necessary information on his/her competitors within the region, their
locations, sizes, targeted clients, wine-drinking culture of the region, income
level of the people as well as the advertising, need for promotion, etc. All
thesecannotbedonewithoutmarketanalysis.
Depending on the purpose and the
objectives of the market analysis, the scope of the study varies significantly
and directly determines the research methods that are adopted.
Methodologies of a market analysis
Included below are some of the most
common research methods.
- Secondary research: collection of information
through libraries, bookshops, the internet, university's resources
- Primary research: any analysis requests a primary
research which can be done through interviews, visits or data-mining
- Survey: a survey aims at asking questions to a screened sample of people through closed and open questions
Delivery of a market analysis by Daxue Consulting
There are multiple ways of delivering
for a market analysis including:
- Analysis of the existing market with the existing
rules and regulations
- Analysis of the main volumes, main figures, main
directions of the market without going too deep in the numbers
- Analysis of the competitors and screening
of them through their results, marketing (qualitative and
quantitative screening)
- Executivesummary
or summarysheets
- Analysis of the duplicable market strategies
- Benchmark of companies' metrics and go-to-market
strategies
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