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Resources to Conduct a Market Analysis

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.

Through thorough data processing, market analysis can help determine a product’s buying pattern and the behaviour of customers towards buying a product. It is a crucial element in businesses and also contributes immensely to the decision making process of a company. Through innovative marketing analysis tools, you can determine the market’s size, uncover gaps in a market, identify your direct competition — through a market map — and discover buying patterns. 

Often, people have mistaken market analysis for market research. Market analysis aims to discover the modus operandi of a market through its customers, buying behaviour and competitors. At the same time, market research examines a more specific market and target audience – it is a way to get to know your customers better.

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 Your Own Market Map! 

Often, people have mistaken market analysis for market research. Market analysis aims to discover the modus operandi of a market through its customers, buying behaviour and competitors. At the same time, market research examines a more specific market and target audience – it is a way to get to know your customers better.

Conducting market analysis requires the use of excellent resources. Here’s a list of some of the best resources you can adopt: 

  • American Factfinder
  • Survey Monkey
  • Think with Google
  • Social Mention
  • Proved
  • Typeform
  • Fedstats
  • HubSpot Research
  • Ecomap

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