Ecomap Blog

Best Practices to Create an Industry Analysis

An industry overview contains well-researched information about an industry, company or organisation. The document is also known as an industry analysis because it contains numerous aspects of an industry including growth, trends, and even competitors.

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An Example of an Industry Overview

Industry overviews are well-researched information about a specific industry, company or organisation. Here we have an example of an overview of the Telecommunications Industry.

There are Many Resources Available to the Researcher, but which are the Best?

A market analysis is an important segment of a business plan and focuses on industry trends, growth, demographics and customer investment. In doing so, it provides insight into the health of an industry and its future potential.

The Industries That Will Shake-Up the Ecosystem

The business ecosystem is constantly evolving and includes established sectors, but it's also important to keep an eye on emerging industries that are sure to make waves.

The Top Growth Industries

What is a market?

A market is a physical or digital place where two parties, usually buyers and sellers, meet to make an economic transaction. Physical markets include retail outlets, shops, malls, dealerships, and real estate locations.

What are markets based on?

Markets are based on a multitude of factors including but not limited to supply and demand, mutual trust, value, variety, and access.

in competition in cooperation

What is the most common type of market?

The most common market type is a monopolistic competition where companies are successful in creating their own sub-market by selling similar but differentiated products. The differentiation can be rooted in the quality of service, materials, manufacturing, ethical business practices, and more. Apparel brands are a great example of monopolistic competition such as GAP, Levis, and J.Crew.

Best practices to identify markets

Although there are different approaches to identify a market, there are common considerations that help businesses to figure out whether their product or service is viable. Markets can be identified by answering the following questions:

market mapping