Market Watch
Market monitoring is part of the research. Market monitoring and market analysis are the means of market research. In contrast to the market, she works long term. She has the objective comprehensive and current guide to the relevant market to get done. It investigates the market structure on the supplier and the buyer side. Together with the market they created a market forecast. But what exactly is the market really In this case the market does this meeting of supply and demand. In the business sector for small and medium enterprises makes this a more or less large number of customers and competitors dar. The market boundary depends on the size of the business and its type of service. For example, the benefit is offered only in a certain region or only targeted clients in a certain age group. The market, however, consists not only of customers and buyers. It’s also made rivals. The entrepreneur must be able to assess realistically the competition. It is necessary to consider how competitive advantage can be further improved. Aaccurate market monitoring to prevent unpleasant surprises, which occur when the competition will not be kept in mind. The observation of the competition can also reveal important clues in person where the performance can be improved. The market should be closely monitored and compared with other market participants. The more information be obtained through other companies and therefore their services, production processes, strategies and products, the easier it is to respond when there are new developments. Should be observed in any case, the competition, the product diversity and therefore the focus range and its shares. Furthermore, the market share and its sales channels. It is also important to deal with the customers and his marketing promotions such as correspondence and meetings. It will also examine the pricing policy, the customer groups of competition and the company as sales, number of employees. To observe the competition and industry associations, databases and business services are a good source. SebastianLong s.lang @ seoline.de
