Market observation
In market research, market observation is the observation of a relevant market by market participants or in the context of market regulation by regulatory authorities .
General
Market participants are the suppliers and buyers who observe a market , its market data and its market development . Not only companies , but also private households (when comparing offers ), economic research institutes or the state (via authorities ) observe the market. For companies, not only their sales market , but also the procurement market , the labor market or the capital goods market come into consideration as markets . According to Friedrich Henzel , market observation deals with the analysis of market developments and is combined with market analysis for market research. While the market analysis undertakes the one-time analysis of the market at a certain point in time, the market observation is the permanent, systematic addition to this one-time inventory. Market observation tries to predict future market developments from historical data , survey results and soft data .
species
In the primary market monitoring the evaluated data is collected by the entity (for example surveys, own company data ), the secondary observation evaluates data from secondary sources (such as from market research firm , operating statistics , operating to compare or economic statistics ) from. The Business Development can participate both types of data collection. Arbitrageurs , investors , traders ( securities dealers ), speculators or traders ( noise traders ) also conduct primary market observation in order to base their buying , holding or selling decisions on this.
tasks
The basis for market observation is first of all the determination of the market form ( monopoly , oligopoly or polypol ) and the market type ( mass market , class market or niche market ). Other framework conditions such as purchasing power , buying behavior , market shares , market power ( buyer's or seller's market ), market potential , market depth , market volume , market growth or target groups must also be determined or forecast. The panel is considered to be the most important method for systematic market observation .
Market adjustment, i.e. the adjustment of the market to changes in previous market conditions (changes in market prices , changes in interest rates , changes in taste or fashion , shifts in supply or demand ) is also examined by market observation.
Regulators
Regulatory authorities or supervisory authorities monitor the market in order to monitor compliance with the market organization . For example, the Federal Office for Goods Transport observes the development of the market in transport in accordance with Section 14 (1) GüKG. Its market monitoring shall include the rail , road and inland waterway transport , the aviation and logistics . Market observation is intended to identify developments on the transport and logistics market at an early stage. According to § 47a GWB, the Federal Network Agency continuously monitors the marketing and trading of electricity and natural gas at the wholesale level . The Federal Cartel Office monitors the trade in fuels in accordance with Section 47k GWB in order, among other things, to uncover possible price agreements . According to Section 35 (1) AWV , an import control report must be submitted by the importer under certain conditions for the purpose of market observation ; the responsible customs office forwards these control reports to the Federal Office of Economics and Export Control (BAFA) for the purpose of market observation .
The vigilance system covers all stages of market monitoring in traffic accommodated medical devices by the manufacturer or importer, monitoring and evaluation of all incidents, which reports to the authorities and the security such. B. Recalls .
literature
- Johannes Deltl: Strategic competition observation . Gabler Verlag, 2nd edition, 2011, ISBN 3485625736 .
Individual evidence
- ^ Friedrich Henzel, procurement, sales, market observation , 1949, p. 83
- ↑ Erich Schäfer , Fundamentals of Market Research , 1953, p. 12 ff.
- ↑ Andreas Kohne, Business Development , 2019, p. 88
- ↑ Andreas Kohne, Business Development , 2019, p. 88
- ↑ Ludwig G. Poth / Marcus Pradel / Gudrun S. Poth (eds.), Gabler Kompakt-Lexikon Marketing , 2003, p. 304
- ↑ Reinhold Sellien / Helmut Sellien (eds.), Gablers Wirtschafts-Lexikon , 1980, Sp. 221 f.
