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Market research is an industry that overlaps with and is often referred to as the "insights" industry. [35] However, the distinctive methods and techniques of market research not always correspond to the digital-first approach of insights vendors.
A market analysis studies the attractiveness and the dynamics of a special market within a special industry. It is part of the industry analysis and thus in turn of the global environmental analysis. Through all of these analyses the strengths, weaknesses, opportunities and threats (SWOT) of a company can be identified.
An industry analyst performs primary and secondary market research within an industry such as information technology, consulting or insurance.Analysts assess sector trends, create segment taxonomies, size markets, prepare forecasts, and develop industry models.
This meant the Marketing Research Industry, again, needed to adapt to the rapidly changing needs of the marketplace, and to the demands of companies looking for a competitive edge. [citation needed] Today, marketing research has adapted to innovations in technology and the corresponding ease with which information is available.
Magic Quadrant (MQ) is a series of market research reports published by IT consulting firm Gartner that rely on proprietary qualitative data analysis methods to demonstrate market trends, such as direction, maturity and participants. [1]
Market intelligence (MI) is gathering and analyzing information relevant to a company's market - trends, competitor and customer (existing, lost and targeted) monitoring. [1] It is a subtype of competitive intelligence (CI), which is data and information gathered by companies that provide continuous insight into market trends such as ...
A market trend is a perceived tendency of the financial markets to move in a particular direction over time. [1] Analysts classify these trends as secular for long time-frames, primary for medium time-frames, and secondary for short time-frames. [2]
Market segmentation is the process of dividing mass markets into groups with similar needs and wants. [2] The rationale for market segmentation is that in order to achieve competitive advantage and superior performance, firms should: "(1) identify segments of industry demand, (2) target specific segments of demand, and (3) develop specific 'marketing mixes' for each targeted market segment ...
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