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Market and Demand Analysis

Market and Demand Analysis

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Published by Nidhi Bansal

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Published by: Nidhi Bansal on Nov 28, 2010
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05/12/2014

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Market and Demand Analysis

ƒ Study market potential for a given project idea by testing market environment through:  Conducting market surveys  Collecting primary and secondary data  Studying characteristics of the market .

ƒ ƒ ƒ ƒ ƒ Study of consumption patterns Income and price elasticities of demand Nature of competition Availability and prices of substitutes Availability and prices of complementary goods .

ƒ Activities in conducting market and demand analysis: Situational analysis and objectives specification Collection of secondary data Market survey Market description Demand forecasting Market planning .

channel members.ƒ ƒ Process by which project manager studies customer preference and their purchasing capacities Strategies of competing firms and intermediaries Project manager interacts with project stakeholders such as clients. employees and competitors of the firm to better understand market requirements. .

ƒ ƒ ƒ A project manager need not go in for a formal study If there is need then objectives have to be defined Questions in the survey must be such so as to provide required response .

ƒ If a firm has developed an inverter following questions are asked to check whether objectives of the firm are with market interests:  Who are the customers of inverters  What is the existing demand for inverters  Pattern of demand over the year  Which of the areas have a higher demand for power  What are the prices and features of inverters being offered by the competitors .

 How sensitive are customers to the price of an     inverter How many types of distribution channels are available for inverters in the market What are the constraints faced by intermediaries to capture the market How can existing customers be convinced to use the newly developed product What price and warranty will ensure the product s acceptance in the market .

ƒ Data is of 2 types:  Primary  Secondary ƒ Secondary data is considered to be more useful in market analysis as it is easy to obtain and is also economical .

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