Running head: MARKET ANALYSIS 1
Market Analysis
Name
Institution
MARKET ANALYSIS 2
Market Analysis
The key to success for any startup is to understand the customers. A business may have
trouble in developing products that truly fit its customers’ need if it does not have a deep
understanding of who its customers are. This is where market analysis comes in. The market
analysis is comprised of four parts, which include competition, industry overview, target market,
and pricing (Armstrong et al., 2015). Therefore, this paper will demonstrate the theoretical and
applied knowledge related to market analysis.
Source: Nudd (2019, February 28).
MARKET ANALYSIS 3
Part A: Description of 3 Demographic Characteristics of the Target Market
The product category that this paper chooses to discuss is Coca-Cola. One of the most
important aspects of a marketing plan for Coca-Cola Company is to define the target audience.
Coke companies require figuring out the need of their target market to develop more effective
and creative strategies. However, Coca Cola Company targets every potential customer who is
thirsty (Nudd, 2016). But the 3 ideal characteristics of demographic segmentation for Coca-Cola
market include income, age and life cycle stages, and gender.
Income
Coke packs differently to segment income levels. For example, the company has small
returnable glass bottles for individuals with low level of earnings; it has coke tin for people with
high level of income, and it has non-returnable bottles for the middling class. The company has
