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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.
Market research is an organized effort to gather information about target markets and customers. It involves understanding who they are and what they need. [1] It is an important component of business strategy [2] and a major factor in maintaining competitiveness.
The marketing research process is a six-step process involving the definition of the problem being studied upon, determining what approach to take, formulation of research design, field work entailed, data preparation and analysis, and the generation of reports, how to present these reports, and overall, how the task can be accomplished.
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]
The IIAR provides this official definition: [1] An information and communications technology (ICT) industry analyst is a person, working individually or within a firm, whose business model incorporates creating and publishing research about, and advising on how, why and where ICT-related products and services can be procured, deployed and used.
Marketing research is the systematic gathering, recording, and analysis of qualitative and quantitative data about issues relating to marketing products and services. The goal is to identify and assess how changing elements of the marketing mix impacts customer behavior.
Reid and Bojanic(2010) claimed that, " The term market research informs relatively narrowly than Marketing Information System(MkIS) which is altered from the term management information systemization. Market research indicates that information is collected for a specific reason or project; the major objective is a one-time use. "[2]
Market share analysis is a part of market analysis and indicates how well a firm is doing in the marketplace compared to its competitors. Givon, Mahajan, and Muller have researched spreadsheet and word processing software firms to give a clearer image of how to determine market share in the software industry. They propose six factors to help ...