MARKET AUDIT AND COMPETITIVE MARKET ANALYSIS Research question Country is south Africa Product is pop tart III. MARKET AUDIT AND COMPETITIVE MARKET A

MARKET AUDIT AND COMPETITIVE MARKET ANALYSIS Research question Country is south Africa
Product is pop tart
III. MARKET AUDIT AND
COMPETITIVE MARKET A

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MARKET AUDIT AND COMPETITIVE MARKET ANALYSIS Research question Country is south Africa
Product is pop tart
III. MARKET AUDIT AND
COMPETITIVE MARKET ANALYSIS
Of the guidelines presented, this is the most product or brand specific. Information in the other guidelines is general in nature, focusing on product categories, whereas data in this guideline are
brand specific and are used to determine competitive market conditions and market potential.
Two different components of the planning process are reflected
in this guideline. Information in Parts I and II, Cultural Analysis
and Economic Analysis, serve as the basis for an evaluation of the
product or brand in a specific country market. Information in this
guideline provides an estimate of market potential and an evaluation
of the strengths and weaknesses of competitive marketing efforts.
The data generated in this step are used to determine the extent of
adaptation of the company’s marketing mix necessary for successful
market entry and to develop the final step, the action plan.
The detailed information needed to complete this guideline is
not necessarily available without conducting a thorough marketing research investigation. Thus another purpose of this part of the
country notebook is to identify the correct questions to ask in a
formal market study.

introduction
II. The product
A. Evaluate the product as an innovation as it is perceived by the intended
market
1. Relative advantage
2. Compatibility
3. Complexity
4. Trialability
5. Observability
B. Major problems and resistances to product acceptance based on the
preceding evaluation
III. The market
A. Describe the market(s) in which the product is to be sold
1. Geographical region(s)
2. Forms of transportation and communication available in that (those)
region(s)
3. Consumer buying habits
a. Product-use patterns
b. Product feature preferences
c. Shopping habits
4. Distribution of the product
a. Typical retail outlets
b. Product sales by other middlemen
5. Advertising and promotion
a. Advertising media usually used to reach your target market(s)
b. Sales promotions customarily used (sampling, coupons, etc.)
6. Pricing strategy
a. Customary markups
b. Types of discounts available
B. Compare and contrast your product and the competition’s product(s)
1. Competitors’ product(s)
a. Brand name
b. Features
c. Package
2. Competitors’ prices
3. Competitors’ promotion and advertising methods
4. Competitors’ distribution channels
C. Market size
1. Estimated industry sales for the planning year
2. Estimated sales for your company for the planning year
D. Government participation in the marketplace
1. Agencies that can help you
2. Regulations you must follow
IV. Executive summary
Based on your analysis of the market, briefly summarize (two-page maximum)
the major problems and opportunities requiring attention in your marketing mix,
and place the summary at the front of the report.
V. Sources of information
VI. Appendixes

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