Market Assessment

Market Assessment

Market Assessment

A market assessment must take account of the situation of one's competitors and their probable future actions. The particular services or products offered by competitors should be considered together with their market share and the likely future trend. Their ONLINE MARKETING skill should be assessed. What are the factors which are likely to contribute to their future success or failure in the market? Are they able to innovate, not only from the point of view of engineering resources but in ONLINE MARKETING attitudes?

It is essential that the ONLINE MARKETING Manager should be able to grasp the key factor of his current product/market situation. In industrial fields this is not, by any means, an easy thing to do. However, without this understanding an assessment of the future product/market position cannot be made. Market Research plays a vital role in establishing what these key factors are.

We come now to the examination of the company's resources. This is a function too often neglected by management personnel yet it is absolutely essential for the preparation of a ONLINE MARKETING plan. The firm should undertake a regular annual review of all its assets. Most particularly, it should make an assessment of the rate at which these are declining in value. The age of its management personnel, the age of its plant, and the life-cycle stages of its principal products need to be examined.

In conducting this review of available resources each department of the organization requires examination. Most particularly, one should consider the volume and pattern of the sales of one's major products and the profit margin which each is achieving. Sales by area, home and export, require analysis. The sales achieved among specific types of customers and specific outlets should be assessed. Furthermore, the image of the company in the eyes of both one's customers and the user industries generally needs constant review. The ONLINE MARKETING Manager should also concern himself with the degree of liaison which exists between the various departments of the organization, and particularly between Sales and Production, and should examine the level of morale which exists among junior and middle-management personnel.

Basic ONLINE MARKETING objectives will vary from company to company. They will establish the general strategy which the company proposes to follow and are likely to include at least some of the following aims:

Turnover Objective Sales volume to increase to x times

Gross National Product Annual Rate of y% minimum.

Profitability Objectives Maximum profit from any one industry of x%. Maximum profit from any one customer of x%.

Market Share Objectives To achieve and maintain x% share of the home market.

To achieve and maintain y% share of any one export market.

The purpose of corporate planning is to try and look at the firm from the outside, to see its strengths and weaknesses and to decide how these may be best utilized to ensure profitable growth.

What next? - Export Research