Brand Analysis. Brand Analysis. Part 2: Market Analysis of Product Category—1000 words
What is the market situation for the category of your brand? Provide a short review of the market situation facing the brands in your competitive “space” (your brand and its direct competitors).
The market situation for over the counter pain reliever medicines is a increasingly growing market. The Brand name pharmaceutical market
Over the next five years, from 2017 to 2022, the industry revenue is expected to grow at an “annualized rate of 6.5% to $238.3 billion” (IBIS World 2017)
This section may address such topics as the key consumer trends, a crucial political issue, a critical technological change, a shift in the nature of the competitive landscape, and/or a key environmental force affecting the brand and competition. Choose issues that generally affect the performance of all players (i.e., some brands are affected more and some less, but the issues affect the group as a whole).
Notes: (1) You will want to refer primarily to the concepts discussed in Ch. 3 on Marketing Environment and Ch. 5 on Consumer Behavior. (2) In this section you are conducting an “environmental scan” (see Ch. 3) of the product sub-category market, which includes your brand and other direct competitive brands.
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