YZ E T HE M A R K E T N E E D

AN A L
A. Market Analysis
 A. MARKET ANALYSIS
A market analysis is a quantitative and qualitative
evaluation of a market.

The goal is to look into the size of the market both in volume and in
value, the various customer segments and buying patterns, the
competition, and the economic environment in terms of barriers to entry
and regulation.
HOW TO DO A MARKET ANALYSIS?
The objectives of the market analysis are to make sure that everything
about the market is clear and that the business if feasible and it is large
enough to build a sustainable business.

These are the recommended items for market analysis:

 Demographics Segmentation
 Target Market
 Market Need
 Competition
1. DEMOGRAPHIC SEGMENTATION

•DEMOGRAPHIC SEGMENTATION PORTIONS THE

MARKET ON PARAMETERS LIKE AGE OF THE
CUSTOMER, GENDER, INCOME, FAMILY LIFE
CYCLE, EDUCATIONAL QUALIFICATION,
SOCIOECONOMIC STATUS, RELIGION, ETC.
2. TARGET MARKET
• A target market is a group of customers that a business
has decided to aim its marketing efforts towards.

• A target market consists of customers that share similar

characteristics, such as age, location, income and lifestyle.
• Target markets can be divided into primary and secondary target
markets. Primary target markets are those market segments to which
marketing efforts are primarily directed and secondary markets are less
important.
3. RECOGNIZING THE TARGET MARKET

To build a solid foundation for a business, the entrepreneur

must identify first the business’ target market. There is no such
thing as “one size fits all” when it comes to recognizing a market
niche. The clearer the business can identify its target customer,
the more effective it could become in tailor-fitting its strategies in
getting customers.
4. RESEARCH THE COMPETITION
• Competitors are like each companies enemies who always
want bigger portion of the market share.
• By knowing the competitor, an entrepreneur will be able to
compare themselves to see what things that are effective and
works for the other companies in the industry. This can be
done by researching on several internet platforms like Google
and Yahoo as well as social media sites like Facebook, Twitter
and YouTube.
 Y T HE M AR K E T N E E D S
B. IDENTIF
 B. IDENTIFY THE MARKET NEEDS

• In starting a business, one good question to have in mind is if

there is a consumer need for your product. Unless it does, you
may end up developing a plan, a product or solution that really
doesn't have a problem to solve, which also means there is no
market to buy your product.
• A problem or need is a condition when consumers have the requirement for a
solution that either does not exist, or the available solution have some limitations
or gaps that needs to be filled. Successful businesses identify these opportunities
to offer products or services and attempt to fill them with a solution.

Examples:

1. YouTube becoming the second largest search engine, next to its

own parent company Google. There is a need for consumers who
prefer video contents be played rather than reading.
2. Podcasting gives opportunity to people who spends hours in
driving and can now listen to different audio programs.

3. Uber passengers save time in waiting in the taxi line.

NEEDS

NEEDS – necessary or desired things. Needs encourage

us to act. Maslow defined a Human Needs Hierarchy
which stated that the lower needs must be met before an
individual can strive to meet the higher needs.