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January 19, 2013

by HoosOnBrand


Understanding of the market and associated nitty-gritty is a prerequisite for a business and its development. Market understanding involves a number of factors including needs of consumers, market structure, size and growth rate, competition witnessed along with the environmental conditions.

To pave way for growth, one has to discover new opportunities in the market, on a constant basis. There is a need to comprehend the structure of the market, its size, impetus for growth, key segments, the customers, their needs, the competitors, their offerings. Apart from carrying out SWOT analysis, the market research analyst must be skilled to drill data from varied consolidated reports, secondary data, inferences from primary researches, social media reports and trends, excerpts by industrialists and other internal data. Market understanding also necessitates a number of client reviews and consultations carried out by senior market analysts. This ensures that one gets a complete picture of the market…

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