IMPORTANCE OF MARKET ANALYSIS

The research goal is to examine why it is essential to conduct a market analysis by a company or any brand who wants to survive in the competition. Corporate Promotional Strategies play a very crucial role for generating sales of any product or service. It plays important role because of the tough competition in market, where nearly similar products and services are available, same is the case for magazine industry. The purchasing patterns in today’s time has become more volatile. Consumers in the market are now more aware of the alternative available to them. This study is being done on the company elets technomedia which is a media and publication company. In this study based on survey and swot methods the company is analysed to find out how much future growth potential is there for the different types of magazines and events and how can we fill up the gaps to improve it and make it better than the competitors. In order to stay ahead in the market and competition, there is a need to perform market analysis of the current situation in the market and this should be performed as a core activity if a company wants to do a swot analysis of itself.