Analysis of the sales market

For each individual entrepreneur, a small firm and a giant corporation, it is extremely important to carry out a procedure called "Analysis of the sales market". Such a study allows companies that are just starting to do business properly to assess the market situation, to forecast its development trends, to calculate possible sales volumes and analyze the activities of competitors. All of the above is important to ensure the rapid growth of the company, and also allows laying the foundations that in the future will allow to organize effective management of sales channels. As for companies that have long and successfully existed in the market, the analysis of the sales market helps them to plan their activities and successfully compete with other market players. In order to confirm the importance of conducting a market analysis, we only note that federal trade networks spend huge amounts of money on such research, and this is done constantly.

Thus, the analysis of the sales market is an indispensable component of success, and how to properly conduct it will be described below. The analysis of the sales market takes place in several stages:

1. The concept of research is being developed: goals are determined, task setting is carried out, and a system of evaluation indicators is developed.
2. Initially, the current position of the enterprise for which analysis is performed is determined on the market. We weigh the options for choosing the time period in which the promotion will be carried out, the advantages and disadvantages of the location of the enterprise are examined, the specific conditions under which the premises will be purchased or rented will be analyzed. In the analysis, it is necessary to take into account the dimensions of the room, as well as the equipment and equipment that is intended to be used.
3. The third stage of the analysis is the consideration of the assortment of goods that will be stored in the warehouses of the enterprise at the time of its discovery. It is important here to understand the possibilities for further expansion of warehouse stocks, as well as assortment.
4. An evaluation of the competitive relations that will inevitably arise in the course of the activity is conducted. It is important to find out how strong the competitors are in the field of activity chosen by the enterprise, what their strategy is to move to the market, whether it is possible to cooperate with them.
5. Information on potential consumers of the proposed products is collected. As methods of obtaining primary data about consumers, one can choose observation, personal communication, experiment, questioning. After the primary information has been gathered, it is possible to identify a group of clients to whom the goods or services will be targeted. Clients need to separate the groups, then identify the needs of each group, and develop ways to meet these needs.
6. Determines the factors that affect the increase or decrease in purchasing power, which shows the main groups of customers. These factors help describe the behavior of customers and plan sales of products.
7. It takes into account the external environment, or rather its factors, represented by economic, political, cultural, etc. These factors can change the market in the next two to three years, and this is very important for starting any business.
8. An analysis is made of possible ways to promote goods or services to the market, as well as distribution channels, ways to stimulate it. A strategy is being developed, according to which an advertising campaign will be conducted.

All the results obtained during the analysis should be consolidated - as a result, an analytical report will be obtained . It is also necessary to include the results of the analysis in the business plan - this provides an opportunity to assess the risks, as well as to develop ways to reduce them.