External business analysis during your development but also before your positioning to market, includes all external parameters.
Detailed market analysis isn’t what you need. It has a big cost with not many results. A detailed market description is enough to guide us in a high quality market analysis.
Market analysis that we use consists of four sections.
In this section we analyze market segmentation, motives and unfulfilled needs or desires of consumers in each company’s field.
2. Competition Analysis
Competitions analysis begins by finding the existing and potentials competitors.
After, we must investigate the competitors successful strategies. It is very interesting to observe the strong and weak sides of our competitors and to analyze them. In order to apply the right strategy we must have understood the following for our competitors:
- The Return: sales, turnover, profits and their changes presents how profitable they are,
- Image and Placement: How their/our clients accept them
- Targets: Are always indicative of their intentions
- Current and previous strategy that was applied
- Cost structure
- Strong and weak spots
- The differentiation of products/services with the rest
3. Market Analysis
Market analysis has two targets:
3.1 First target is to determine how attractive is the market and submarkets.
3.2 Second target is to understand market’s dynamic, in order to find out the opportunities and traps and take preventative measures by making the right strategy. Market analysis should have:
- Market size
- Growth prospects
- Market’s profitability
- Cost structure
- Distribution Channels
- Key success factors
4. Environmental Analysis
By using the term environment we mean all the sections that include market and industry of product. In this case we must isolate only the factors that influence market or sections of market that interests us.
The environmental analysis includes the following five (5) sections:
- Demographics status
Manager’s Office is a specialized marketing company that offers its services in this particular area, at all kinds of businesses since 1961. (trade, production, export and services)