(THIS ONE) 2.02 S&E Marketing II: Market Analysis

Why do we analyze markets?

• To sell more products

• To understand consumer needs and trends

• To make commercials

• To hire more employees

What is the purpose of a market analysis?

• To decorate stores

• To understand customer behavior and preferences

• To create TV ads

• To set store hours

Which of the following is included in a market analysis?

• Floor plans

• Customer birthdays

• Market size and growth potential

• Business locations

What can you use market analysis for?

• Guessing what customers like

• Making informed business decisions

• Planning office parties

• Hiring friends

What is a challenge in market analysis?

• Too much free time

• Data overload

• Not enough stores

• Boring products

What does the term “competitive landscape” mean in market analysis?

• The view outside the office

• The number of trees in a location

• Understanding competitors in the market

• A place where companies compete in sports

How does market analysis help market planning?

• It creates fun ads

• It makes guesses easier

• It simplifies decisions and reduces risks

• It designs store layouts

What is the relationship between market analysis and market planning?

• Market analysis comes after planning

• They are not related

• Market analysis provides data that helps in planning

• Market planning replaces market analysis

Which of these is an actionable recommendation from a market analysis?

• Watch a movie

• Increase prices blindly

• Introduce new products

• Take a lunch break

Why is accuracy of data important in market analysis?

• To make the report look longer

• To ensure decisions are based on reliable info

• To impress your boss

• To copy other companies