Market analysis customers

Market analysis - a technique for establishing product characteristics where the customer requirements are revealed by market survey and determined by statistical techniques for inclusion in specifications. 

Identify needs through market analysis and research—the markets where opportunities exist to increase market share ot products and seivices that respond to customer needs and deliver superior energy-efficient performance. 

This company founded in 1994, is a contract molecular biology and screening service company for the pharmaceutical, research, and clinical markets worldwide. Custom services include gene synthesis, DNA sequencing, site-directed mutagenesis, nucleic acid purification, and genotype/genetic analysis. 

Market analysis Product design R D Raw materials energy acquisition Manufacturing processing Transportation distribution Product usage Post-use disposition Customer environmental requirements Redesign for compliance Cost versus function versus environmental impacts Compliance costs resource productivity Palletization efficiency/space utilization Cost versus function versus environmental impacts Disposal cost/potential liability... 

Although the first section of the TOA analyzes the opportunity in technological terms, the market analysis must revisit the product or service through the eyes of the customer. In particular, the analysis of features, benefits, and consequences considers what the product or service does and how that benefits the customer directly and in the long term. An example from a common software product will make this clear. 

Design data and other process information are obtained during the development stage. This information is used as the basis for carrying out the additional phases of the design project. A complete market analysis is made, and samples of the final product are sent to prospective customers to determine if the product is satisfactory and if there is a reasonable sales potential. Capital-cost estimates for the proposed plant are made. Probable returns on the required investment are determined, and a complete cost-and-profit analysis of the process is developed. 

The critical point about information concerns marketing strategies. Only a limited share of producers feel investing in human capital is a priority. They try to meet this demand through direct customer relationships than making a marketing plan based on a specific market analysis. 

Stage 2 - Build the business case The detailed homework and upfront investigation work. This second homework stage includes actions, such as a detailed market analysis, user needs and wants studies to build voice of the customer, competitive benchmarking, concept testing, detailed technical assessment, source of supply assessment, and a detailed financial and business analysis. The result is a business case - a defined product, a business justification, and a detailed plan of action for the next stages. 

Flextronics International has excelled as a contract manufacturer for electronics that included cell phones. As it worked on contracted volumes, it was sheltered from market uncertainties and had ample opportunity to stand out in its internal capabilities. In early 2000s, it decided to compete as an ODM (original design and manufacture), that required it to assess customers preferences, design appropriate features in the cell phone so as to satisfy the customer, manufacture it, and sell it to a service provider through an OEM (Huckman and Pisano 2006). In doing so, it had to develop the customer facing capabilities of market-analysis and development of product architecture. In addition, it was now exposed to the market side risk in price and sales volume. The transition was successful, as the company took care to build the additional capabilities. 

It is axiomatic that sales analysis depends on detailed records of sales of a specific chemical to a specific company. Paramount to the success of such studies is the existence of data recorded on a systematic and continuous basis. It follows that these studies are done best by an ia-house staff on products already produced by the company. However, on occasion, a product new to the company can be studied by the ia-house group with the assistance of their field sales force. For example, a producer of polypropylene could use its people to secure data on the consumption of other thermoplastics by their customers. Such an exercise might identify opportunities for a new producer, but a more detailed marketing research study would probably be done before entry iato the new product area was made. 

The context of this work, at least superficially, is quality control in the chemical and pharmaceutical industries. The general principles apply to any form of (chemical) analysis, however, whether in an industrial setting or not. Other readers need only to replace some phrases, such as Health Authority with discriminating customer or official requirements with market expectations, to bridge the gap. The specifically chemical or pharmaceutical nomenclature is either explained or then sufficiently circumscribed so that the essentials can be understood by students of other disciplines. 

Without having conducted a full elasticity analysis across the entire portfolio, the analysis helps to prove market perceptions such as a higher elasticity exist in one market compared to another market or comparing elasticity between products being perceived to have a different elasticity. The statistical quality of the linear regression analysis in selected months is considered as good in terms of the number of customers involved and the R-squared value proving the applicability of the approach. 

Mulhern, F. J. 1999. Customer profitability analysis measurement, concentration, and research directions. Journal of Interactive Marketing, 13(1) 25-40. 

Processes in a successful innovation project must satisfy requirements set by the market, the sponsors, and/or the inventor s own dreams. Requirements analysis is considered to be one of the most important features of any innovative pharmaceutical manufacturing system project, because if done professionally, it helps to specify, research, and develop appropriate features and processes that customers need. 

Because of the nature of their activity, market development must work closely with the applications laboratory. Applications is a group of specialists who develop detailed technical information on the properties of the new plastic raw material. They determine the functional suitability of the plastic part after it has been produced from the customer s mold or of the prototype part built by the lab group. This testing of course, includes the usual chemical and mechanical analysis as well as environmental testing under the conditions in which the customer intends to use the part. 

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