Definition of Industry Analysis



Industry Analysis is a way by which companies analyze the market in which they wish to enter or are already working in it. This analysis is an important tool to collect data from the market about the customers, their needs, innovations, discontinuities or competitors in the same industry. The useful data help managers to develop effective strategies and develop innovative products to achieve large market share or long-term sustainability.

 


Industry Analysis Method:

  • SWOT Analysis Model
  • PEST Analysis Model
  • Porter’s Five Forces Model
 

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