Market Analysis Techniques in Marketing Principles Report

This report provides an overview of market analysis techniques and their application in making informed business decisions, particularly for a small family business. It discusses using market research to determine the target market, interpreting findings from market research and analysis, and presenting these findings to the marketing team to inform marketing objectives. The report also covers using market analysis techniques for making informed decisions about products and services, utilizing appropriate technology for market research and analysis, and providing recommendations to the marketing team. The importance of market analysis in gaining valuable insights into the marketplace and its role in determining the target audience and introducing new products and services are emphasized. The report concludes by highlighting the need for marketing teams to use various tools for analyzing the marketplace and communicating with other departments.

Marketing Principles and
Techniques
TASK 4

Table of Contents
• Introduction
• Using market research techniques for determining target market
• Interpretation of findings in regards with market research and analysis
• Presenting findings to marketing team to inform marketing objectives
• Using market analysis techniques for making informed decisions about products and services
• Using appropriate technology for market research and analysis
• Making recommendations to marketing team
• Conclusion
• References

Introduction
• Market analysis can be understood as thorough
assessment of varied activities of marketplace within a
particular industry.
• For applying market analysis techniques to business
operations, a small family business is taken into
consideration.

Using market research techniques for
determining target market
By analysing their market analysis techniques, they are
determined to target the family audience who hails
from middle income level group.

Interpretation of findings in regards
with market research and analysis
It has been interpreted that for analysing market research,
owners of small family food attraction business has used
survey method for collecting data sets about people's
demands, perspective, desires and many more.

Presenting findings to marketing team
to inform marketing objectives
• Marketing objective which is set by owners of small
family business is to increase their sales and increase their
brand awareness among masses.
• For attaining this marketing objective, they can told their
team to analyse competitor's in an effective manner and
perform the assigned activities.

Using market analysis techniques for
making informed decisions about
products and services
By using survey method, they have ascertained that people in
UK are moving towards healthy habits. So they are willing to
introduce some sort of organic and vegan food in their product
portfolio.

Using appropriate technology for
market research and analysis
Technology has allowed owners of small food attraction
business in creating self-service platforms whereby clients
can program short micro-surveys in an effective manner.

Making recommendations to marketing
team
• It has been recommended to marketing team to use other
techniques and tools for analysing the marketplace in an
effective manner.
• It is imperative for them to make proper communication
with other departments in order to streamline marketing
objectives in a strategic manner.

Conclusion
From the above information, it has been assessed that market analysis is considered as important for
marketers as it help in gaining valuable insights regarding varied activities in regards with marketplace in
an effective manner. It is considered as beneficial as it helps in determining the target audience,
information about introducing new products and services.

References
• Ramasubbareddy, S. and Et. Al., 2020. Comparative study of clustering techniques in market
segmentation. In Innovations in computer science and engineering (pp. 117-125). Springer.
• Caselli, S. and Gatti, S. eds., 2017. Structured finance: Techniques, products and market. Springer.
• Henrique, B. M., Sobreiro, V.A. and Kimura, H., 2019. Literature review: Machine learning techniques
applied to financial market prediction. Expert Systems with Applications. 124. pp.226-251.
• Mariani, M. C. and Et. Al., 2020. Analysis of stock market data by using Dynamic Fourier and Wavelets
techniques. Physica A: Statistical Mechanics and its Applications, 537, p.122785.