Market strategies are the result of a meticulous market analysis. A market analysis forces the entrepreneur to become familiar with all aspects of the market so that the target market can be defined and the company can be positioned in order to garner its share of sales. A market analysis also enables the entrepreneur to establish pricing, distribution, and promotional strategies that will allow the company to become profitable within a competitive environment. In addition, it provides an indication of the growth potential within the industry, and this will allow you to develop your own estimates for the future of your business.
Begin your market analysis by defining the market in terms of size, structure, growth prospects, trends, and sales potential.
The total aggregate sales of your competitors will provide you with a fairly accurate estimate of the total potential market. For instance, within the beer brewing industry, the total market potential would be the total sales of malt beverages in the United States, which is $15.2 billion.
Once the size of the market has been determined, the next step is to define the target market. The target market narrows down the total market by concentrating on segmentation factors that will determine the total addressable market -- the total number of users within the sphere of the business's influence. The segmentation factors can be geographic, customer attributes, or product-oriented.
For instance, if the distribution of your product is confined to a specific geographic area, then you would want to further define the target market to reflect the number of users or sales of that product within that geographic segment.
Once the target market has been detailed, it needs to be further defined to determine the total feasible market. This can be done in several ways, but most professional planners will delineate the feasible market by concentrating on product segmentation factors that may produce gaps within the market. In the case of a microbrewery that plans to brew a premium lager beer, the total feasible market could be defined by determining how many drinkers of premium pilsner beers there are in the target market.
It is important to understand that the total feasible market is the portion of the market that can be captured provided every condition within the environment is perfect and there is very little competition. In most industries this is simply not the case. There are other factors that will affect the share of the feasible market a business can reasonably obtain. These factors are usually tied to the structure of the industry, the impact of competition, strategies for market penetration and continued growth, and the amount of capital the business is willing to spend in order to increase its market share.
Number of Pages of Project Report: 114
Package Includes: Project Report
Project Format: Document (.doc)
Table of Contents of Project Report:
CHAPTER 1: INTRODUCTION
CHAPTER 2: THEORETICAL BACKGORUND
PROJECTING MARKET SHARE
PRICING THE PRODUCT
THE CASE OF BARCO
MARKETING RESEARCH FOR STRATEGIC DECISION MAKING
MULTI-PRODUCT RESOURCE ALLOCATION
NEW PRODUCT DIFFUSION CURVE
DYNAMIC PRODUCT MANAGEMENT STRATEGIES
DEVELOPING A MARKETING STRATEGY
TYPES OF STRATEGIES
SAMSUNG GALAXY S SUCCESS
MARKETING GENIUS OF SAMSUNG
SAMSUNG MOBILES: SMARTPHONE STRATEGY FOR THE INDIAN MARKET
MANUFACTURING AND R&D
THE ROAD AHEAD
4 GREAT MARKETING STRATEGIES
GOALS ARE GOOD
KNOW YOUR CUSTOMERS
ORIGIN OF THE TERM
THE SAMSUNG MOBILE BUSINESS
SAMSUNG’S MOBILE PHONE BUSINESS
SAMSUNG’S GLOBAL MANAGEMENT: GLOBAL R&D (RESEARCH & DEVELOPMENT)
INNOVATIVE DESIGNS AND PRODUCTS
INDUSTRY OUTLOOK AND KEY CHALLENGES
SAMSUNG’S KEY ISSUES
CHAPTER 3: LITERATURE REVIEW
CHAPTER 4: THE ORGANIZATION: SAMSUNG
THE SAMSUNG PHILOSOPHY
SAMSUNG PROFILE 2011
2011 FINANCIAL OVERVIEW (WON/DOLLARS/EUROS)
2000-PRESENT PIONEERING THE DIGITAL AGE
HOW SAMSUNG SMARTPHONES TOOK ON APPLE
SAMSUNG’S GLOBAL NETWORK
DEVELOPMENT OF MOBILE COMMUNICATION TECHNOLOGY
COMPARIOSN OF R&D AND MARKETING EXPENSES
CHAPTER 5: RESEARCH METHODOLOGY
THE OBJECTIVES OF THE STUDY
THE RESEARCH DESIGN
CHAPTER 6: DATA ANALYSIS
GRAPHICAL PRESENTATION OF QUESTIONNAIRE RESPONSES