Market analysis

Market analysis ( English market analysis , market research ) is in the market research , the systematic analysis of existing market data of a particular market at a specific time .

General

If the point-in-time (static) analysis is in the foreground in the context of market research, then according to Erich Schäfer it is a matter of market analysis; According to Schäfer, on the other hand, market observation is the ongoing, systematic addition to this unique inventory. However, the more recent specialist literature turned away from this and, since Gerhard Merk, now sees market analysis as the individual implementation of market research. Since the market analysis only reflects a past or present picture of a market, but decisions are future-oriented, the market analysis must be supplemented by a market forecast of future market developments . In practice, market research can hardly be separated from market analysis, because market observation represents a chain of market analyzes. The analysis and documentation of the position of individual companies in the market is methodically based on statistics and opinion research and, in addition to market transparency, serves as a foundation for a company's business policy.

Market analysis as a basis for decision-making

Conducts market analysis who plans to act as a market participant in a relevant market . Economic entities who, as providers ( companies , authorities , private households), want to sell a certain product or service or who want to acquire it as buyers (companies, authorities, private households) come into consideration as market participants . In order to be able to make sales or purchase decisions, market participants have to evaluate information from market analyzes. For example, a consumer must know and evaluate the number of suppliers and their price , quality ( Stiftung Warentest ) and delivery times for their purchase decision in order to obtain the necessary market transparency for their decision . In addition, the financing of the purchase price also plays a role. In contrast, an impulse purchase is usually not preceded by any or only a minor market analysis.

In modern companies, market analyzes are increasingly carried out using ERP software. The main challenge is to be able to react to the changes that occur quickly in the market today in order to remain competitive through strategic decisions . For this reason, the focus is increasingly being placed on mobile solutions in order to have the greatest possible flexibility.

species

The operational function enables the market analysis to be broken down into:

Procurement market : for raw materials , consumables and supplies , tools , prefabricated products or energy .
Production : The product is subjected to an analysis with regard to its quality, performance, cost and price structure , market readiness , product life cycle analysis , potential substitute products and a buyer-friendly design ( product design ) as well as the packaging .
Financial market : The functionality and the interest rate level or price level on the capital , money and foreign exchange markets are examined .

Human resources : The personnel capacity of a provider is largely determined by the labor market .

Sales : The sales markets for the main , by- products and waste products are examined . In particular, the competition ( competition analysis ), the purchasing power of consumers and their possible preferences must be examined .

The market analysis is often associated with the analysis of the sales markets, but this partial analysis is preceded by the examination of the other markets relevant for operational functions.

aims

With the methods of market analysis, all markets can be examined, in particular the not yet mentioned goods market and its submarket for commodities , the financial market and its subsectors stock exchange or its stock exchange segment stock market . The market analysis provides the supplying company with information on market volume and market potential , previous and expected market growth , market shares , customer structure and data parameters such as the economic situation , legal framework or fashion trends . As a result, like other market participants, it achieves market transparency with which market-relevant decisions can only be made.

Individual evidence

↑ Erich Schäfer, Fundamentals of Market Research , 1940, p. 9 ff.
↑ Gerhard Merk, Scientific Market Research , 1962, p. 11 ff.
↑ Wolfgang Lück (Ed.), Lexikon der Betriebswirtschaft , 1983, pp. 746f.
^ Springer Gabler Verlag (ed.). Gabler Wirtschaftslexikon: Market Analysis. HTML: http://wirtschaftslexikon.gabler.de/Archiv/378/marktanalyse-v8.html
↑ Requirements for today's market analysis. Retrieved February 26, 2018 .
↑ Springer Fachmedien Wiesbaden (ed.), Compact Lexicon Economy , 2014, p. 368

[1] Erich Schäfer, Fundamentals of Market Research , 1940, p. 9 ff.

[2] Gerhard Merk, Scientific Market Research , 1962, p. 11 ff.

[3] Wolfgang Lück (Ed.), Lexikon der Betriebswirtschaft , 1983, pp. 746f.

[4] Springer Gabler Verlag (ed.). Gabler Wirtschaftslexikon: Market Analysis. HTML: http://wirtschaftslexikon.gabler.de/Archiv/378/marktanalyse-v8.html

[5] Requirements for today's market analysis. Retrieved February 26, 2018 .

[6] Springer Fachmedien Wiesbaden (ed.), Compact Lexicon Economy , 2014, p. 368