Market Trends Analysis and Reporting: Business Development Report

This report provides an in-depth analysis of market trends, encompassing statistical analysis, interpretation of market developments, and the evaluation of qualitative results. It explores the use of statistical methods in market research, including measures of central tendency and dispersion, and correlation. The report also covers comparative market analysis, competitor analysis, and the development of marketing strategies. Furthermore, it delves into the analysis of qualitative data such as social media and website data, emphasizing the importance of forecasting both emerging and existing market needs. Finally, the report examines the process of reporting on market data, highlighting the development of data literacy and the use of visual representations, while addressing potential problems and offering guidelines for effective report writing.

Running header: Market Trends 1
Market Trends Section one
Students Name
Institutional Affiliation

Market Trends 2
Section 1 – Interpret trends and market developments.
Answers.
1. Statistical analysis is a necessary part of market research since it is used in measuring
both associations and differences amongst variables (Advantage Research, 2018).
Besides, statistical analysis is crucial in the development of useful and understandable
results, insights, recommendations and conclusions.
2. In a business context, statistical analysis involves the collection and examination of
various data samples selected from a range of items (Gibilisco, 2018). Besides, statistical
analysis seeks to identify trends in a market.
3.
a. Measure of central tendency refers to a summary measure that seeks to describe a
set of data with one value which illustrates the center of its distribution. The
measures are divided into median, mode and mean.
b. Median refers to the value that divides the higher half of a data sample from the
lower half. On the other hand, mean refers to the average of a set of numbers.
4.
a. Measures of dispersion are used primarily in describing the variation or spread of
data around a central value. For example, two different samples may be having
the same median or mean but have contrasting levels of variability.
b. Correlation refers to a statistical technique that shows the strengths of an
association between two variables.
5.
i. Innovative technology.
ii. Social engagement.
iii. Vertical marketing.
iv. Mobile optimization.
v. Personalized content.
6. In conducting a comparative market analysis, I would gather information from the public
records in the county where a property is located. Secondly, I would gather information
from the multiple listing system. This is a computerized listing system used by real estate
agents in searching and listing properties for clients (WiseGeek, 2018).
7. I would gather such information since it would assist in determining the price range of
the property, a fair price of the property and also whether a home may appraise for a high
value if mortgaged for a second time.
8. I would analyze the market performance of both existing competitors and potential
competitors so as to understand the following areas;
 Industry mobility barriers.
 Prime customer motivators.
 The reasons behind both unsuccessful and successful firms.
 Major component costs.
9. From my competitor’s statistical data, I would generate a marketing strategy that will
guide me generate skills that my competitors do not possess. This will provide me with a
distinct competitive advantage hence being able to develop a strength grid.
10. Techniques that can be used include;
a. SWOT analysis.

Market Trends 3
b. Value chain analysis.
c. Driving force analysis.
d. Industry analysis.
e. Financial statements and ratios analysis.
Section 2 – Analyze qualitative results.
1. The types of data include;
a. Social media data.
b. Website data.
c. Lead generation data.
d. Return on investment.
2. Its important since one is able to make educated assessments regarding business
operations such as what to stock, promote or stop selling. Besides, if one does not
understand the products or services that are underperforming, he or she may end up
putting money into items that people are not interested in purchasing.
3. Its important to forecast both emerging and existing market needs due to the following
reasons;
a. Companies operate on the basis of both plans and budgets.
b. Both plans and budgets are dependent on both past data and forecasts.
c. Forecasting is crucial in planning the customer demand.
4. Forecasting market needs can be achieved by the following methods;
a. Conducting buyer intention surveys.
b. Usage of previous sales data.
c. Conducting a leading indicator analysis.
d. Carrying out a test marketing.
e. Through business intelligence.
5. Managers should be involved in the forecasting process since they play a crucial part in
analyzing appropriate actions used for planning the forecasting process.
Section 3 – Report on market data
1. Students or learners are able to develop data literacy. This means that the learner or
student is able to make sense out of the visual presentation and also be able to relate the
data to real life situations.
2. Example of tools that can be used include; software packages, Microsoft Excel, graphs,
or Microsoft PowerPoint.
3. Some problems include;
a. Interpretation of too much information that has no balanced insight.
b. Use of irrelevant information that has serves no purpose.
c. Use of acronyms and abbreviations that an audience does not understand.
4. Some questions to ask yourself include;
a. Are the visual representations better in interpreting the data?
b. Is the data too much or less for analyzing the business?
c. Is the visual data easy to understand and relate with?
d. Is the data correct or can the data be proven?
5. Guidelines are always given when writing a report. Therefore, by reading them carefully,
one is able to carefully write the report.

Market Trends 4
References
Advantage Research. (2018). Statistical Analysis. Retrieved from
http://advantageok.com/statisticalanalysis.html
Gibilisco, S. (2018). What is statistical analysis? - Definition from WhatIs.com. Retrieved from
https://whatis.techtarget.com/definition/statistical-analysis
WiseGeek, (2018). What Is a Comparative Market Analysis? Retrieved from
https://www.wisegeek.com/what-is-a-comparative-market-analysis.htm