A market area is the surface over which a demand or supply offered at a specific location is expressed. For a factory it includes the areas to where its products are shipped; for a retail store it is the tributary area from which it draws its customers.
How do you perform a market analysis?
Here are five steps about how to conduct a market analysis for your small business:
- Decide the purpose of your market study. There are several reasons why you might conduct market research.
- Determine target customers.
- Gather data for conducting a market analysis.
- Analyze your information.
- Put your market analysis to work.
What is a market analysis of your home?
The 'comparative market analysis,' or CMA, is the old standby marketing tool for agents trying to win listings. The agents try to demonstrate their value by pulling sales numbers they claim only they have access to and assemble a set of recent and pending home sales that provide context for pricing your house.