Marketing analysis
In simple terms, what is marketing analysis
Marketing analysis is the foundation of a strong marketing strategy, product, promotion, communication, design, and more.
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Why is marketing analysis needed?
Just as friendship begins with a smile, the implementation of marketing tasks begins with analysis. Without it, it is difficult to develop a high‑quality marketing strategy, product, communication, corporate identity, and more. They are interconnected: analysis is the basis of strategy, and strategy is the basis of product and promotion.
Understanding its importance and applying a professional approach reduces risks and directly impacts the success of a project.
Marketing analysis helps to:
- understand the market, its trends, and technologies
- explore segments and identify your own
- better understand consumers and their pain points
- identify strengths and weaknesses of the company and competitors
- develop positioning and pricing strategies
- develop/improve products/services, customer service, and design
- find more effective channels and tools for promotion and communication
Some of the simplest, most understandable, and most commonly used marketing strategies include:
- 3C model (strategic triangle), developed by Japanese business guru Kenichi Ohmae, which emphasizes three key elements: Customers, Corporation, Competitors
- 4C model, proposed by Robert F. Lauterborn, which shifts focus from product (known 4P model) to consumer: Cost, Customer needs and wants (customer value), Convenience, Communication
Based on this and combining analysis segments, we can answer the question:
What does marketing analysis include and what are its tasks?
- market analysis
- competitor analysis (direct/indirect)
- company analysis, including its clients
Collecting such data and conducting analytics requires effort, but its importance cannot be overstated. Entrepreneurs often neglect this step – mistakenly, as it provides answers to many questions about business development strategy, product or service promotion, and customer relations. It can save enormous amounts of time, energy, and money. Proper competence is also crucial: the ability to find necessary information, conduct research and interviews, and draw conclusions.
How much does comprehensive marketing cost?
Of course, marketing analysis and consulting require professionalism and deep immersion in a specific case. At Seven Mountains, we approach this process systematically, because we believe small businesses deserve a comprehensive marketing approach to become more competitive and valuable. The cost of marketing analysis starts from $500.
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