Why is target group analysis important?

The target group analysis is the foundation for an effective and successful brand and communication strategy. It uncovers what types of people are likely to buy your brand and why.

How do you conduct a target group analysis?

To conduct a target group analysis, you need to precisely identify the target audience, define their characteristics and needs, and use different research methods such as surveys, interviews, and focus groups to gain insights into their behaviors, preferences, and motivations.

What are the types of target group analysis?

The main types of target group analysis in market research include demographic, psychographic, behavioral, and geographic segmentation.

What are the methods commonly used to identify a target market?

To identify your target market, some methods may include analyzing your offerings, conducting market research, creating customer profiles and market segments, and assessing the competition.

What is a target group example?

A target audience refers to a group of individuals who share similar needs and wants. This group is often characterized based on demographics and socio-economic factors, such as "unmarried women between the ages of 25 and 40 with a high income."

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Market Analysis

Use Case

Market Analysis

Decode markets, outperform competitors. Gain strategic insights through competitor and target market analysis, leverage SWOT analysis to drive your business forward.

Here's why you need Market Analysis

In a competitive marketplace, staying ahead is essential. Market analysis helps you gain a strategic edge by providing data-driven insights, enabling informed decision-making, and identifying opportunities for growth.

It acts as the compass guiding your business toward success, facilitating adaptation, risk reduction, and maximizing your return on investment.

Advantages of Market Analysis

Make decisions with confidence. Market analysis provides you with valuable insights into industry trends, consumer behavior, and competitor strategies.
Outperform competitors with thorough analysis. Discover their strengths, weaknesses, and market gaps to craft winning strategies for a clear edge.
Face uncertainty confidently. SWOT analysis identifies strengths, weaknesses, opportunities, and threats, enabling proactive risk mitigation for business resilience.

Methods to include in your Market Analysis

Competitor Analysis

Mastering competitor analysis

Explore the strengths and weaknesses of both your company and rivals, illuminating strategies and trends. Attain the foresight to thrive in the market, leverage emerging trends, and forge a captivating competitive advantage.

Explore competitor analysis

SWOT analysis

Strategic insights with SWOT analysis

Journey through the systematic exploration of strengths, weaknesses, opportunities, and threats, and discover how this process empowers you to make informed decisions and shape effective strategies.

Deep dive into SWOT

Target market expansion

Expand your target market

Where profound market awareness, meticulous research and tactical entry intersect. Uncover how this strategy empowers your businesses to seize untapped horizons, align with emerging trends, and establish your presence across new frontiers.

Explore expansion strategies

KPIs to measure

Unaided & Aided Brand Awareness
Customer Satisfaction
Purchase Drivers & Barriers
Net Promoter Score (NPS)

Essential Market Analysis questions

For brand awareness & preference

In my product category, which brands does my target group know, which ones do they buy, and which ones are considered?
For competitive situations

What comparable products does the competition offer? How does my product differentiate itself from others? What market shares do competitors already capture?
For assessing competitive strength

For what reasons do certain providers win over others? How many potential suppliers are there? What alternatives to my product exist?
For market potential & entry barriers

What are the revenues in the respective industry? What trends are emerging in that industry? What will it cost to enter the market, and what other obstacles might impede entry?

Market analysis explained - FAQ MISSING

The target group analysis is the foundation for an effective and successful brand and communication strategy. It uncovers what types of people are likely to buy your brand and why.
To conduct a target group analysis, you need to precisely identify the target audience, define their characteristics and needs, and use different research methods such as surveys, interviews, and focus groups to gain insights into their behaviors, preferences, and motivations.
The main types of target group analysis in market research include demographic, psychographic, behavioral, and geographic segmentation.
To identify your target market, some methods may include analyzing your offerings, conducting market research, creating customer profiles and market segments, and assessing the competition.
A target audience refers to a group of individuals who share similar needs and wants. This group is often characterized based on demographics and socio-economic factors, such as "unmarried women between the ages of 25 and 40 with a high income."

More use cases & methods

Strategy

Competitor analysis

This guide explains step by step how to do a competitive analysis und what to consider.

Strategy

Target group analysis

Gen Z or Millenials? Yoga lovers or CrossFit fans? Get a clear understanding of your target audience to create great products that they will actually need and love.

Innovation

Pricing analysis

Maximize profits by asking the right questions. How much are customers willing to spend on your product? What’s the optimal price point?

Tracking

Consumer tracking

Understand how consumers think and what drives their choices. From purchase frequency to product use, to drivers and barriers - we've got all the answers you need, in real time.

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