What is Market Analysis?

• Market analysis = systematic study of a market to inform decisions

• Looks at: customer needs, market size, competitors, trends, and channels

• Informs: product fit, pricing, distribution, and messaging

Core Components

• Customer & target audience (demographics, psychographics, behavior)

• Market size & growth (TAM / SAM / SOM)

• Competitive landscape (direct & indirect competitors)

• Trends & external factors (technology, regulation, cultural)

• Channels & distribution

​Primary vs Secondary Research

• Primary research = data you collect directly (surveys, interviews, focus groups, observations)

• Secondary research = existing sources (industry reports, academic articles, competitor sites, public data)

• When to use each: primary for specific customer insight; secondary for context and benchmarks

​Examples of Primary Methods

• Surveys: scalable, quantifiable (good for demographics & trends)

• Interviews: deep, qualitative insights (good for psychographics & pain points)

• Focus groups: interactive attitudes & reactions

• Observational research: real-world behavior (in-store, usability tests)

​Examples of Secondary Methods

• Industry reports (market size, forecasts)

• Government / public datasets (census, labor stats)

• Competitor websites & product pages

• News articles, academic studies, trade publications

​Demographics and Psychographics

• Demographics = who (age, gender, income, education, location)

• Psychographics = why (attitudes, values, lifestyles, motivations)

• Behavioral = what they do (purchase habits, frequency, brand loyalty)

​Quick Framework: From Data to Persona

• Step 1: Collect demographic & behavioral data

• Step 2: Conduct interviews to uncover motivations & pain points

• Step 3: Group similar users into segments

• Step 4: Create a persona with name, goals, pains, behaviors, channels

Common Pitfalls

• Biased or leading survey questions

• Small or unrepresentative samples

• Overgeneralizing from anecdotes

• Ignoring competitors or market trends

​How We Will Practice this Unit

• Design and run a short survey + interview questions

• Analyze class or sample data and create visualizations

• Build 2 segments and at least 1 buyer persona

• Produce a short market analysis report and a 5–7 slide presentation