Coastal Services Center

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Market Analysis

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What is Market Analysis?

Market Analysis is a term with a broad scope and includes all aspects of a business or service environment. It asks questions about competitors (in our case other groups who provide similar information, products, or services), market structure, regulations or other restrictions, economic trends, technological advances, and numerous other factors that make up the business environment. Typically a market analysis consists of the following phases:

• Inventory
• Literature and Other Research
• Analysis of Inventory

The results of a market research provide a context to determine an organizational or product niche and identify target audiences.