This course reviews the external environmental factors and
internal organizational capabilities that impact how a company operates to
create a successful product or brand. Since companies operate in dynamic
environments, understanding the changing landscape and current trends that are
impacting the business helps to develop a sound Marketing Strategy. This course
includes three process namely - Determine Strengths and Weaknesses, Determine
Opportunities and Threats and Define Market and Identify Market Segments. The
course is useful to students and professionals who wish to gain an in depth
understanding of the topic analyzing market opportunity. The many authors,
advisers, and reviewers of the course have worked in numerous Sales and
Marketing areas and geographic regions across a variety of industries. Thus,
insights provided by them make this course industry independent. The course
defines the topic in terms of processes that comprise a series of actions that
leads to a particular result. Each process requires specific inputs and then
uses tools to create specific outputs.
Market analysis involves analyzing market data to identify patterns and predict future events. The purpose of performing a market analysis is to understand the attractiveness of a market.
When existing industry reports, internal company reports, or generic reports are insufficient for understanding the external factors that can impact a company, the company may choose to conduct primary marketing research in order to improve knowledge of the marketplace, reduce risk, and improve marketing decisions.
This tool is analogous to the demographic segmentation for consumer markets. Here, the business market can be segmented on the basis of various company characteristics including, but not limited to, the following:
SMstudy has been created by VMEdu, Inc., a global certification course provider that has educated over 400,000 students world-wide in more than 3,500 companies. SMstudy's certification training is provided through its 500+ Authorized Training Partners (A.T.P.s) across the globe. The SMstudy courses explain Sales and Marketing concepts through a practical, process-oriented approach. This helps Sales and Marketing professionals understand the specific processes they should follow to be effective in their Sales and Marketing roles.