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Market Study

Market Study

Before the start of any small or large project, most companies and organizations use experts in the field of marketing to provide a vision about the future conditions of the field of activity that the company carries out, and based on these studies and plans, some methods are adopted to deal with the expected conditions in the future.

There is no doubt that these studies require a lot of effort and study in order to arrive at a correct prediction, and although these studies rely on intangible things and conclusions to a large extent, the effects of these studies have many results affecting companies' profits.

These studies are submitted to the internal departments of the different type of company in order to help the decision-makers within those companies to reach the closest way to the correct decision and determine the company's path during future periods.

we will get acquainted with me on the best scientific methods used to conduct a study of the situation of the local and international markets with the addition of some experiences that have been personally tried and refer to the scientific methods in this regard.

There are a number of things that must be taken into account while doing this study, and then starting to implement the following steps.

First: - Determining the strengths

One of the most important strengths that affects the marketing power of companies

The trademark: The trademark is one of the most important means that companies acquire through hard and continuous work over successive years, and most companies seek through their trademarks to gain good fame acceptable to the public of consumers.



Customer loyalty: It is the facility's ability to have a customer base that monitors and anticipates changes to products and marketing decisions taken by the company.



High quality: - It usually appears in the industrial establishment and is represented in the ability to provide a high quality product free from manufacturing defects.



Acceptable prices: They are determined by the pricing department that follows scientific principles for pricing products and after observing the market situation by examining and studying.

Second: - Identifying weaknesses

Some factors may cause weaknesses in companies to appear, which may be points related to quality or other things such as poor electronic publishing or the rigidity of the company's internal policies and the lack of acceptance of the changes that occur in the markets.



Third: - Determine the current threats

It may be considered one of the most prominent threats facing companies is the emergence of new products or services on the market scale that have the most appropriate mix for marketing of the company's services and products, such as higher quality and lower prices, or better post-purchase services at a lower price.



Fourth: - The available opportunities at the current time

The opportunities available may be in the form of owning higher-tech equipment than those of competitors, or the high demand for some of the services and products provided by the company, or the exploitation of the time factor if the company offers some products that depend on the seasonal timetable for the marketing process and productivity, such as the paper and clothing industry.



Fifth: - Submitting proposals

The help of some of those who have the ability to analyze the study and rely on the few clear data to reach a correct decision for the future stages of the company.

finally

The most important of these stages is to make the right decision and monitor its impact on the market for the next period, and the most important thing is to rely on the two most important factors in the study, namely:



1- Strengths



2- The current available opportunities



The former two must be combined to have an effective plan.



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