The Difference Between Marketing Analysis and Market Research

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santo5
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Joined: Thu Jan 19, 2023 4:14 am

The Difference Between Marketing Analysis and Market Research

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Marketing analysis and market research , at first glance, are both research and analysis activities. However, what is the actual difference? Don't be confused, you just have to look at the scope. Basically, marketing analysis has a broad scope, and more than that, market research or market research is part of marketing analysis . For marketing analysis , you have to analyze competitors, business context and customers. Meanwhile, the scope of analysis in market research is more focused on certain target markets and customers. To find out more about the differences between the two, let's dissect them one by one. Also read: know the difference between b2b and b2c email marketing marketing analysis marketing analysis “ market analysis is the evolution of trying to maximize the company's earnings for each transaction, to maximize the earnings of each relationship in the long term, ” – Philip Kotler, father of world marketing .

In line with that, launching super heuristics , marketing analysis is the process of collecting historical data across all parameters to compile a picture of the market and predict what could happen in the future. The implicit goal is to understand or model how Thailand Phone Number List the market works in order to obtain data on market potential, competitors, customers and other stakeholders. Meanwhile, launching businessnewsdaily , marketing analysis is a thorough assessment of the market in a specific industry. Through this analysis, we can study market dynamics, such as volume and value, potential customer segments, competition and various other important factors. Also read: email marketing vs social media marketing , which is more effective? 7 elements in marketing analysis marketing analysis is useful for formulating strategies and plans for running a business.

Through all these analyses, the company's strengths , weaknesses , opportunities and threats can be identified. And then, launching edit, the four swat factors will later be useful for measuring the 7 elements in marketing analysis, namely: market size ( market size ). Market growth over time and future projections. A very useful market for determining the type of product you will sell next, as well as the marketing strategy. Market profitability which is useful as an illustration to determine potential profits or losses. Factors that influence marketing success, such as technological advances, economies of scale, and efficient resources. The distribution channel that determines your product reaches the hands of consumers. The industrial cost structure will be very useful for the efficiency of various components so that you can get bigger profits without the need to increase product selling prices.
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