What is marketing analysis?

Marketing analysis is a method of evaluating the external (market, competitors) and internal (enterprise marketing) environment in order to increase sales of services. Marketing analysis allows you to solve the following tasks:

1. Evaluate the market. Identify competing companies and evaluate them. Competitors include companies that are close to your company in terms of turnover or are leaders in the industry.
2. Study the prices of similar products. Check the competitiveness of the brand — objectivity of the markup, ease of purchase, obvious benefits for customers.
3. Determine the volume of purchases and/or production. Assess product demand, draw up a production plan and reduce the possibility of illiquid production.

Internal marketing analysis is carried out in order to identify "dead" (non-working) marketing channels, reduce budget drain, increase product sales.