Market and competition analysis
Groundwork
The entire design process, regardless of the subject (UX audit, marketing strategy, creative online campaign, landing page, mobile app, or website) the deep market analysis is a base for any other stage of the design process. A meticulously prepared market analysis will help with preparing an effective and efficient marketing strategy.
Methods
While conducting the Market Analysis, we research its macro-and micro-environment. We determine:
- the size of the market
- how quickly it develops
- Cost of joining a particular industry.
The well-known method for conducting the Market Analysis and which we also use are:
- SWOT analysis
- product life cycle
- strategic portfolio analysis
- PEST analysis
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