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Marketing analysis is applied in 7 steps. This is a long process. Let's examine these stages now.

Set Your Purpose

 Marketing analysis is done for two reasons. The first is to find a new market, and the second is to measure your level of competition in the market you are in. Whatever your corporate identity purpose is, you need to draw a path accordingly. You need to draw a path at a level that can take precautions against the negativities that may occur in the future. You may need to look at your competitors and learn from their past mistakes.

Research the Situation of the Industry

Determine your place in your industry. Identify factors such as the size of the industry, potential new advantages and growth potential. Determine how competitive the industry can be and your future demand intensity.

 


Online Tools for Market Analysis (Research)
How to Make a Market Analysis?



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Identify Your Target Audience

When starting work, you first think about your environment. You identify your acquaintances with a mathematical number and say that if these people buy goods from you, that's enough. But that is no longer the case. Not everyone can be your customer. Even people you never expected can buy products from you and you can be very surprised. But dealing with them is a waste of time. If you act by determining who will want to procure your product the most and focus on this aspect, you will reach the result faster. Review the goal setting options below.

  1. Age
  2. Gender
  3. Location
  4. Profession
  5. education
  6. needs
  7. Areas of interest

 

Know and Understand Your Competitors

When establishing a business, you should know your competitors in the market very well. You need to know very well the capital strength of your competitors, the variety of goods in the market, in which regions they operate, and if they are more advantageous than you, what they do differently than you. You can find the weaknesses of your competitors and take advantage of them. You should enter the market with a different working system than them.

 

Collect as much data as you can find

Market research is a very difficult and limited task. For this reason, the data you find should consist of realistic, accurate and up-to-date information. You can get realistic information about market research by using the following methods.

 

  1. General Directorate of Population and Citizenship Affairs
  2. National and Local Trade Sites
  3. Trade Magazines – Chambers – Associations
  4. Your SWOT Analysis
  5. Market Research or Surveys

 

Analyze Your Found Data

Once you've gathered all the information you can find and confirm its accuracy, it's time to analyze the data to make it useful to you. Divide your research into sections that make sense to you, but try to include ones for your purpose, target market, and competition.

• An overview of the size and growth rate of your industry

• Estimated percentage of market share of your business

• Customer buying trends

• Projected growth

• How much customers are willing to pay for your product or service

You can filter around this title.

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Online Tools for Market Analysis (Research)

Many tools are available for market analysis. In addition, these tools provide a lot of data not only in market analysis, but also in finding keywords from social media, audience behavior.

  • Google Trends

It is a tool that gives information about the things people look for a lot on a daily basis. Which word is searched the most and gives similar results to the searched words.

  • Ahrefs

It is one of the most used tools by SEO companies. Besides being useful for finding keywords, it also has the ability to have a lot of data. The only downside is that it is paid.

  • similar network

It has the feature of giving information about what competitor sites are doing.

  • Google Keywords

It is a free tool provided to users by Google. Keyword finding is based on facts. It shows how expensive the keywords are. Advertisers carry out their advertising marketing by taking these into account.

  • moz

Useful when you want to evaluate your website for SEO.

And other tools are as follows:

CrazyEgg, Social Mention, BuiltWith, Hotjar, Think With Google, Octoparse, Consumer Barometer, BuzzSumo, R Studio, Survey Monkey, Simply Measured, Aytm, Wappalyzer, Trade Map, Market Access Map, Click Funnels, Product Map, Proven, User Summary , Followerwonk, Typeform.

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