Market Analysis

Tasks set
Market analysis assists in reaching the following goals:

Providing a basis for decision making as regards the continual further development of your internet presence.
Early recognition of trends to adapt your own strategy accordingly.

Method
The recurrent observation of web sites forms the basis. All data compiled by observation will be saved into a data base. Thus, several periods of observation can be compared to discern fairly long-term trends. The following methods are applied separately:

A regular analysis of web sites designed by the most important providers of the particular market surroundings. The following aspects will be considered:
- extent and type
- usability
- observation of legal guidelines.
A comparative analysis of your web site as contrasted with the web sites of your competitors.
Evaluation of media reports and market studies that deal with relevant topics.
When analysing e-commerce pages we can also conduct regular test purchases (mystery shopping) at one or several shops.

Sample
Apart from your own web site, all web sites provided by relevant competitors ought to be observed.

Timing
The number of observations per year is determined in dependence on market volatility.
The precise times of observation will be determined as agreed to ascertain that important seasonal events will be captured.

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