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How to write a market study

Oboolo.com offers numerous market studies, written by students, professors or professionals which are reviewed by an expert team to meet high quality standards. Please use our search engine to find the study you need. A market study enables you in analyzing a market, to present your study as a convincing answer to various questions involved in a market, and patterns and prospects related to the market. Broadly speaking, the quality of your market study will depend on its clarity and consistency, the quality of data collected and your ability to use them. Finally, the market study should provide a diagnosis, often intended to formulate a problem and a strategy on a market. If the market study is not the key factor of success of a project, it nevertheless allows assessing the risks associated with market and adjusting decisions based on an environment. Market research is an essential tool to any strategy. A market study addresses the analysis of four areas: Market definition, Demand, The offer, Environment.

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A market study consists of analyzing a market, in order to present your study as a convincing report intended to answer various questions: who intervenes in this market, what are the habits related to this market, what are its prospects?

In general, the quality of your market research will depend on its clarity and consistency, the quality of the data collected and your ability to use it. Ultimately, the market study should eventually make it possible to establish a diagnosis, often intended to formulate a problem and then a strategy for the market.

The market study makes it possible to assess the risks linked to a market and to adjust decisions according to the environment. Market research is therefore an essential tool for any strategy.

A market study responds to the analysis of four areas:

  • Market definition
  • Requirement
  • The offer
  • The environment


Market definition

This first step is essential for the market study because it must constitute a base for the whole study.

The first step is to define the market:

  • Identify it precisely (4x4 market, food market, etc.)
  • Obtain data on its evolution (stagnation, growth, regression)

Next, list competing products or services, along with their market share. It is a question of specifying the direct competitors (offering a similar product) as the indirect competitors (substitute products: the scooter and the metro are, for example, competitors of the car).

Finally, the study must identify the players present in this market (competitors, consumers, specifiers, producers, distributors, etc.) and their role.

Don't hesitate to use tables and graphs to illustrate this part of the study to clarify your conclusion.


Requirement

This second step, must be more precise in order to obtain as much information as possible on the market.

There are four main criteria we will look at, to which other relevant elements can be added, if necessary:

  • Global evolution of demand in volume and value
  • Demand segmentation (who are the buyers: men, women, children, professionals, students, high incomes etc.)
  • Consumer behaviour (when, why and how do they consume the product?)
  • Purchase criteria (purchasing habits: location, sensitivity to promotions, price, size, etc.)


The offer

Two parameters must be taken into account for the offer available on the market:

  • Who are the competitors?
  • What do they offer? It is a question here of studying price, format, mode of sale, type of promotion, sales results, customer satisfaction etc. set up by the competitors.


The environment

The last area which influences the market is the environment in which it operates. The parameters specific to this market are:

  • Policies (new regulation planned for the market)
  • Economic (increase in purchasing power)
  • Legal
  • Technological (rapid innovation, rarity)
  • Sociological, etc.

Generally, market studies are concluded with a summary and synthetic table of the current state and major developments in the market, organized in such a way as to distinguish opportunities from threats. It makes it possible to define the key factors of success in a market as well as its constraints.

Don't hesitate to support your study with diagrams, histograms and summary tables in order to offer additional information to your reader.

Finally, you must state all the bibliographic resources that you used to carry out your market research. Your data must be dated and verifiable, this contributes to the professionalism of your work.

Finally, the study must identify the players present in this market (competitors, consumers, specifiers, producers, distributors, etc.) and their role.

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