MARKET ANALYSIS

What is a market analysis?

A market analysis is a thorough assessment of a market
within a specific industry. With this analysis, you will study
the dynamics of your market, such as volume and value,
potential customer segments, buying patterns, competition, and
other important factors.
Components of Market Analysis
 Customer Description
Customer description depicts
the people in the company’s
market, known as the
demographic or target market.

 Customer Perception
How the target demographic
perceives the business and the
product is also an important
aspect to market analysis.
 Components of Market Analysis

 Market Trends
Market trends bring
contextual relevance to the
business and the market by
describing current
tendencies and optional
progression of those
tendencies.
 Components of Market Analysis
 Market Projections
Market projections combine the
information from the customer
description, perception and market
trends and forecasts the future of
the target market, as well as the
business’ place in the future of the
market.
 Competition
Most market analyses also
include a portion that
describes the business’
competition with the same
examination that was applied
to the researching company.
 Market Analysis vs. Market Research

Market analysis is general in nature, amassing large

amounts of cold-hard facts and figures with multiple
impersonal (and oftentimes) automated retrieval
techniques.

Market research, on the other hand, is specific,

constrained by time, audience, emotions and opinions
and dependent on human interaction and interpretation.
 Types of Market Research
 Secondary Research
Publicly available and free information from
websites, magazines and publications, trade
associations, government, census data, and of
course search engine results.

 Primary Research
The information collected directly from the
source, often custom to the project and typically
includes surveys, interviews, and focus groups.
Surveys are more convenient than ever with the
ability to utilize online surveys.
 Types of Market Research
 Qualitative Research
Use open-ended responses typically with
interviews or focus groups.

 Quantitative Research
Employs statistically significant sampling and
closed-end questions typically with surveys.

 Syndicated Research
Conducted by a research firm and sold to
several users on a fee or subscription basis.
 MARKET RESEARCH IN THE CONSTRUCTION
INDUSTRY

Why is Market Research so important?

1. Market research is used to support planning and budgeting and
decision-making for new products, market-entry, marketing
communications, customer initiatives and more.

2. Marketing without research, customer or market insight is guesswork,

with high risk of failure.

3. With new product failure rates in excess of 90%, insights from market
research promises to reduce the risk of failure.

4. Niche markets within the construction industry likely do not have

available secondary research, thus requiring primary research.
 Construction Market Research Tips

 Getting Started
Give your market research some direction by determining what type of
information you need about your business and the construction market.
 Construction Market Research Tips

 Research what’s already been done

Review business information provide and gain insightful information
and new leads for information at the same time. Read or watch national
media to learn about the global construction market.
 Construction Market Research Tips
 Survey Construction Market Trends & More
After you’ve gathered relevant information from other sources, look for
gaps in the information you still need. Chances are this is the subjective
information, also known as qualitative data that comes from people’s
opinions. Decide on the best research methods for gathering this
information. Questionnaires and surveys are inexpensive ways to gather
information about the building construction market
 Construction Market Research Tips

 Analyze Construction Market Data

Once you have collected data, find a way to organize the results to
provide the information you need. Focus on consistency and
quantification.