Understanding your Market

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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.

 

 

 

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Market Analysis

Q.1 What trends have previously affected this industry? Give Answer
Q.2 What current trends are affecting the industry? Give Answer
Q.3 What trends may affect this industry in the future and how? Give Answer
Q.4 Is this industry governed by legislation? Give Answer
Q.5 What impact does it have on the industry and the success of your business? Give Answer