Understanding your Market
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Understanding Market Trends
Identifying and understanding trends in the market assists you to forecast future sales and anticipate events and changes that can impact your business. Trends in the market can be identified by understanding the pattern of growth or decline in sales resulting from changes in environmental factors such as; seasonality, population, social, technology, economic cycles and political climate.
Trend analysis can look at short, medium and long term trends and can provide information on growth and decline rates for overall markets and individual segments.