a collection of competitors that produce similar products or services to a defined market
Primary research is the pursuit of firsthand information on a market and its customers. This includes focus groups, online surveys, phone interviews.
Secondary research is data and public records used to draw conclusions. This includes trend reports, market statistics, industry content, and sales data from public, commercial, and internal (to company) sources.
Analyze a particular industry, see its past trends, demand-supply mechanics, and future outlook
1. Review available reports and statistics
2. Focus on the relevant industry
3. Demand & supply scenario
4. Competitive scenario
Porter’s Five Forces Model is helpful here to analyze the competitive landscape:
5. Recent developments
6. Focus on industry dynamics