What is market analysis?

The market analysis is concerned with the attractiveness and constant change of a particular market within a specific industry. The market analysis provides insight into the industry analysis, which then sheds light on the global environmental analysis. These various aspects of analysis aid in the SWOT analysis. SWOT stands for strengths, weaknesses, opportunities, and threats, and it can be used to identify all aspects of a company at any given time.

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Market analysis can also refer to a documented investigation of a market. This document investigation is used to determine a company’s planning activities regarding inventory decisions and many other aspects of its operations. These are the basic definitions of market analysis that will help you complete your assignment. If you’re struggling with a marketing assignment, we can help. Our team of assignment writers includes industry experts who can assist you with your academic journey. All you have to do is ask for help, and you will be fine. Trust our team with all of your marketing analysis assignments and work towards good grades.

Learn about the various dimensions of the Market Analysis assignment.

Our researchers, who work on real-world market analyses for many marketing firms, can provide you with a practical overview of all of these dimensions. The market analysis dimensions are given below:

Market size: Market size refers to the potential and volume of the market. Market volume is determined by the number of consumers and their demand in a specific industry. The market volume represents the total sales volume of a specific market. Aside from market volume, market potential is equally important. It specifies the upper limit that a market can reach.

Market Trend: A market trend refers to the upward or downward movement of a market, similar to a stock market trend. In comparison to the size of the market, the market trend is relatively easy to spot. Some common techniques include risk analysis, marketing mix model, choice modeling, product research, sales and promotion, and more.

Market growth rate: To calculate market growth rate, simply use historical data. If we can extrapolate historic data into the future, we can easily calculate market growth rates.

Market Opportunity: Market opportunity refers to a product or service that meets the needs of a growing market using one or more technologies.

Market Profitability: Organizations experience varying market conditions and profitability levels. Michael Porter proposed a framework for assessing the attractiveness of an industry.

Distribution Channel: Analyzing the distribution channel can significantly reduce operational costs. Aside from that, it provides information about the existing distribution channel through which customers receive their products and services.

Success factor: To achieve marketing objectives, certain success factors must be met. Access to the distribution channel, technological advancements, the ability to meet sales targets, and access to unique and critical resources are just a few examples.

Market analysis is useful in a variety of marketing situations. Our marketing tutors specialize in sales forecasting, market research, and marketing strategy. Students must understand how to use market analysis data, as well as how analysts arrive at their conclusions and the techniques they employ.

Don’t worry if none of the above-mentioned management subjects meet your needs. This is only a brief overview of the topics we cover. In addition, we cover marketing segmentation and related topics. You can find solutions to any management-related issue.

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Market Analysis Assignment Sample – McKesson Corporation from the health case industry

Choosen Health Care Organization

McKesson Corporation is a top healthcare organization in the United States of America. It distributes pharmaceutical products and also provides medical supplies, health information technology, and care management tools. It was established in 1833 in New York City. Its headquarters are in Irving, Texas, United States (McKesson Corporation, 2020).

SWOT Analysis

Strengths

McKesson is a healthcare organization that has embraced modern technologies such as pharmacy robotics, barcode scanning, and RFID tags. It is a reputable Fortune Global 500 company that has been ranked as the sixth largest revenue-generating organization in the United States. It establishes a comprehensive infrastructure network for the entire healthcare sector. It boasts a robust brand portfolio. It is very successful at developing prudent and sound marketing strategies for its deliverables. It has a higher level of customer satisfaction due to its focus on customer relationship management and brand equity development (Phadermrod, Crowder, & Wills, 2016). It earns high returns on capital investment. It has a proven track record of successfully integrating complementary firms through mergers and acquisitions. It has been able to build a strong dealer community that focuses on our culture with dealers and distributors. It has excelled in emerging and new markets due to its expertise, resulting in new revenue streams and diversification of economic cycle risks in its current markets. It also benefits from having a strong base of excellent and reliable suppliers, which improves ingredient quality and allows it to overcome supply chain bottlenecks (McKesson Corporation, 2020).

Weaknesses

McKesson suffers from these gaps. In its product line. One significant weakness of the organization is its slow investment in modern and emerging technologies. The net contribution percentage and profitability ratio were found to be below the industry average. McKesson has struggled to deal with the challenges posed by new entrants. Financial planning is somewhat ineffective and inefficient (Rouse, 2017). The current business model and organizational structure are incompatible. It also suffers from poor diversity management.

Opportunities

It can differentiate its pricing strategies in different markets by leveraging technology. It can provide more opportunities for its customers by utilizing online channels. It can concentrate on market development by examining government agreements and emerging technological standards. It must invest in technological resources to maintain its market dominance over competitors (McKesson Corporation, 2020). Value-oriented propositions can be used to attract new customers and convert existing ones into loyal customers. By effectively understanding its customers, it can use Big Data Analytics to better serve their needs, and the organization can capitalize on this opportunity through continuous innovation and a focus on technology (Ghiasipour, Mosadeghrad, Arab, & Jaafaripooyan, 2017). New environmental policies can help McKesson gain an advantage over its competitors by supporting new product categories and technologies. Differentiating pricing is another significant opportunity for the organization (Osita, Onyebuchi, & Justina, 2014).

Threats

The new entrants pose significant threats. The demand for the organization’s profitable products is seasonal, and profitability declines during the lean seasons. Environmental regulations can pose significant threats. Liability laws and legislative regulations in different countries are found to differ, requiring McKesson to face various liability claims. The cost of raw materials is increasing. It is susceptible to currency and political climate fluctuations. It may face legal challenges as a result of ongoing fluctuations in product standards and laws in international markets. Another important rate is the low-quality products of other organizations, and the threat of imitation can be harmful to the organization (Varkar, 2020).

Summary/Recommendations

The organization should develop an effective marketing plan to ensure the best use of resources and avoid wasting resources, money, and time. It should consider effective planning to ensure cost-effectiveness while also achieving the goals and objectives. McKesson requires additional investments in the field of new technologies in order to expand into new geographies and increase the scale of its operations. It needs to fill gaps in its product line. It needs to expand its product portfolio. To address the challenges posed by new entrants, it is necessary to develop an internal feedback mechanism that will be operated directly by the sales team (Silva, 2013). It must create a compatible organizational structure that will fit into its current business model and increase opportunities for expansion in various product segments. It must concentrate on successful mergers and acquisitions based on cultural diversity. To overcome the challenges and failures of merging forms from different work cultures, an effective diversity management mechanism must be developed (Osita, Onyebuchi, & Justina, 2014).