A Framework for Market Analysis Markets are complex whether it’s consumer or idustrial. A wide range of factors might need to be taken into account while examining specific markets. Therefore, having a framework can be helpful in bringing some order to this complexity.
Four basic dimensions for discussing markets: Market geography
Market geography relates to the physical location and geographical boundaries of a market. It involves identifying where the market is situated, which regions it covers, and any geographic factors that may influence the market dynamics.
Market size represents the total demand for a specific product or service within a given market. It quantifies the potential sales and revenue that can be generated.
Market density measures the concentration of potential customers or target audience within a specific geographic area or market segment.
Market behavior encompasses the actions and behaviors of consumers, businesses, and other market participants within a given market.
The module is structured around four basic dimensions for market analysis: market geography, market size, market density, and market behavior. Each major section in the module focuses on one of these dimensions, with a particular emphasis on illustrating how these dimensions influence channel design strategy. Among the four dimensions, market behavior is identified as the most intricate and intricate to understand. It implies that analyzing and comprehending how consumers and businesses behave within the market is a more challenging and multifaceted task.