The sample market assessment is a systematic approach through which companies assess the various possibilities within the market with regards to the goods and services introduced or to be introduced. This is especially useful for the new businesses to assess the profitability of their niche to the targeted market. This is also essential for creating proper marketing strategies for the goods and services so that maximum consumers are gained by it. The assessment needs to be done carefully and in an organized approach.
Sample Market Assessment:
The Market Assessment has been conducted by Future Leader Analyzers Co.
Company Name: Modern Unique Designs Ltd.
Category: Women’s Fashion
Target Consumer Market:
- Age Group: 18-35
- Location of Stores: Local and National
- Income Level: Above $12,000 per annum
Aim of Market Assessment:
- To carefully survey the targeted market according to the fashion product and services.
- To examine the impact of newly introduced products in the consumer market.
- To compare existing prices of the products of the company with other companies for similar products.
- To analyze consumer demands for each product and gain insight about new features to be added to current goods and/or services.
- To analyze the marketing strategies used and it’s effectiveness in reaching the target market.
- To identify any problems or issues that is being consistently faced by the company in the consumer market.
Result of Market Assessment:
- Modern Unique Design Ltd has produced considerable impact in the consumer market through its effective marketing strategies, having acquired 15% of the market share.