The relation of market volume to market potential provides information about the chances of market growth.Market trends are the upward or downward movement of a market, during a period of time.
Market segmentation is an important way to find competitive advantage with its differentiation in market analysis.
Market segmentation concentrates on market energy and power to gain competitive advantage.
The quantities can be given in technical terms, like GW for power capacities, or in numbers of items.
Qualitative measuring mostly uses the sales turnover as an indicator.
Market segmentation can identify different products for different groups, better match customer wants and product benefits, maximize the use of available resources and focus marketing expenditures and competitive advantages (Karlsson,2012). However, businesses can follow generalized rules like geographic, demographic, psychographic, and behavioral.
A good market segmentation should be sustainable, accessible, actionable, measurable, and differentiable (Karlsson,2012). Aaker outlined the following dimensions of a market analysis: Market analysis strives to determine the attractiveness of a market, currently and in the future.
In other words, market segmentation is the concept tool to get the force (Thomas, 2007).
In market analysis, market knowledge is required to analyze market structure and process.
A market analysis studies the attractiveness and the dynamics of a special market within a special industry.
It is part of the industry analysis and thus in turn of the global environmental analysis.