Zip Code Lookup Market Analysis What is a market analysis A quantitative and qualitative assessment of a market Quantitative statistical online questionnaires onstreet or telephone interviews conclusive results leading to a final course of action ID: 773722
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Zip Code Lookup Market Analysis
What is a market analysis? A quantitative and qualitative assessment of a market. Quantitative – statistical, online questionnaires, on-street or telephone interviews, conclusive results leading to a final course of action Qualitative – non-statistical, individual in-depth interviews or group discussions, exploratory leading to generalizations and an initial understanding to base further decision making. It looks at the size of the market, the various customer segments, their buying patterns, the competition, and the economic environment in terms of barrier to entry. Objective Prove you know your market. Prove the market will sustain a business.
Demographics Variables such as age, gender, income, and occupation hold important clues to consumer behavior. Also includes household size, ethnicity, and education.
Psychographics The motivations in a user’s life. What are the customers’ interests, activities, and opinions or attitudes? Includes: hobbies, buying behaviors, values, desired user experience, aspirations, etc.
Geographics Where are your customers? Are there geographical characteristics? What are the regional preferences? Are they influenced by seasonal cycles?
Zip Code Lookup Use the internet to complete a market analysis. Choose 4 different zip codes to research.