Market Analysis in E-Service

Ariella Felita Vashti,  2401989625

“Market Analysis in E-Service”

The development of technology and information at this time is very rapid and becomes a difficult thing to avoid because in everyday life, today we cannot be separated from technology. Of course, the development of this technology has a very pronounced impact on certain areas of everyday life. One of the things that are affected by technology is the business world. Because of the development of technology, the company continues to innovate in developing its products and services in order to follow the needs of the community and answer the problems that exist today whose technological and information development is very fast. Products and services today continue to grow following the development of technology. There are many products and services that are online. For example, in the field of services that we often know with e-service or electronic services. Electronic services are service systems that use electronic sophistication. Examples of these electronic services are e-commerce,  e-government, e-libraries,  and many more.

Of course, in business, the company must pay attention to how to get profit from the sale of its products or services. In this case, there are many ways the company can achieve these goals, one of which is by market analysis. Market analysis is an activity that studies and analyzes the target market and its conditions, competitors, and studies consumer behaviour. The activity aims to improve the accuracy of the market or market for the product or service. Market analysis is very important for companies because by doing this market analysis the company can collect data to study competitors, market trends, and others. Market analysis can also help companies in knowing what products or services the market or market is interested in, help the company in determining prices, as well as from its target market or market. The target market can be demographics, namely gender, age, and location and platforms commonly used by prospective customers. To conduct market analysis, there are several things that need to be considered and understood by the company, namely:

• Market size

Market size becomes an important and main factor in market analysis. The company must know how big the market size is for the product or service to be sold. The bigger the market, the greater the competition that the company will face. To compete with competitors, companies must think about the advantages or values of their products or services. What distinguishes a company’s product or service from a competitor’s.

• Market growth

Market growth factors against market analysis are also important. With market growth analysis, companies can find out the growth of the market over time during marketing activities. With the analysis, companies can find out the size of the market more clearly and can decide whether the market is the right market to invest in or not.

• Market trends

Companies that know market trends will know what products or services will be offered and can help the company in determining the marketing strategy that will be used in the future. With market trends, companies can find out products or services that are in great demand by the market. Market trends change very quickly, so companies need to be quick to adapt to those trends.

• Market profitability

The company must analyze the profitability of the market so that the company can know or have an idea of how much profit will be obtained from the results of marketing in that market.

• Cost structure

Cost is a cost that must be incurred for the marketing of products or services from the company. By knowing the cost structure, companies can manage finances more effectively and efficiently.

BIBLIOGRAPHY

Day, G. S. (1981). Strategic market analysis and definition: An integrated approach. Strategic Management Journal,281-299.

Haitham M. Alzoubi, M. A.-G. (2019). An empirical study of e-Service quality and its impact on achieving a value-added. Journal of Business and Retail Management Research (JBRMR).