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Market Study Checklist


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Market Study Checklist This Market Study Checklist will be helpful to corporate marketers who need to study the situation on the market. Using this checklist you will learn what items a Market Study includes and market areas you will need to study the most likely.

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1. The attributes of Market Study:

  • Customer and performer of the market study;
  • Objectives of the market study;
  • Business problems to be addressed with a help of results of the market study;
  • Types of recommendations and solutions to be delivered after the study;
  • The benefits to be obtained by learning results of the study;
  • Methods of data collection and methods of data interpretation;
  • Procedure for data analysis and decision-making;
  • A template or document to summarize and deliver results of the study;

2. Areas to be studied:

  • The Structure of the Market:
    • Market size and key market sectors;
    • Branding (market brand shares);
    • Seasonality of market;
    • Level of competition (a fair one or somehow regulated);
    • Presence of tariff barriers or other regulations;
    • Shares by channels of distribution;
  • Industry Profile:
    • Current size of industry and its growth potential;
    • Seasonal industry trends;
    • Economic trends and government policies;
    • Preferred distribution channels;
    • International relations;
    • Norms on profitability;
    • Taxation (stimulant or suppressing);
    • Level and share of innovative technologies;
  • Marketing Environment:
    • Balance of trade, imports, exports;
    • Number of present sellers;
    • Competitors;
    • Demographics;
    • Trends in pricing;
    • Governing;
    • Inflation;
    • Logistics;
    • Corruption;
    • GDP per capita;
    • GDP growth;
    • Saturation;
  • Customer Profile:
    • Shares by age and gender;
    • Income levels;
    • Motivational patterns;
    • Lifestyle, ambitions and life expectations;
    • Social problems;
    • Spending habits and patterns;
    • Housing and transport;
    • Education levels;
    • Marital status;
    • Bulk or seasonal buying;
    • Preferred source of obtaining new information;
    • Buying methods preferred (in person, by catalog, by phone, or on the Web);
  • Competitive Profile:
    • Main brands and suppliers;
    • Strengths and weaknesses;
    • Market niche;
    • Time in business;
    • Pricing;
    • Level of service;
    • Advertising and marketing approaches;
    • Annual sales;
    • Revenue history;
    • Strategies used;
    • Images of brands and products;
    • Consumer awareness;
    • Sources of materials, inventory and services;
  • Distribution:
    • Preferred payments types (cash/credit);
    • Preferred payments methods (bills, bank transfers, electronic methods, etc);
    • Distribution network (type, branching, spread, structure);
    • Distribution marketing;
    • Ordering and stocking;
    • Distribution levels;
  • Products and Services (their level of competitiveness):
    • Packaging standards;
    • Customer satisfaction;
    • Product life cycle;
    • Availability and accessibility ...

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