Market Analysis for Product Software

Topics: Marketing, Strategic management, Competitor analysis Pages: 4 (1257 words) Published: July 21, 2007
Market analysis for product software
Market analysis for product software consists of a number of techniques that allow an organization to collect and disseminate information from their external environment of software products for use in determining their market strategy and actions. For example, market analysis helps to determine critical strategies for new software products such as time-to-market length, creating product differentiation, creating and preserving supplier credibility, developing effective distribution channels, forming relationships with large customers, and managing market efforts (Igel & Islam, 2001). This topic has its roots in marketing discipline. Many types of market research techniques are used to gather this information. Market analysis plays a large part in explaining the current situation of a marketing plan. Marketing is very important to new product development because software products have a short average lifespan of five years and incur 75% of the costs during the research and development phase (Atkinson et al, 2004). Therefore, including market analysis information early on in the product lifecycle can ensure resources are not wasted. It is a wide field so this article is a sample of scientific work that has linked the fields of marketing and product software. This consists of research in the fields of general market, customer, and competitor analysis which can be seen as processes that are hierarchically grouped under market analysis in the meta-process model from the figure below. There are many processes that can be used for each of these three processes to acquire information from the market. This article only lists a selected few for each. General Market Characteristics for Product Software

Analysis of general market characteristics should lead to information about the market such as definition, size, trends, and market segmentation. This analysis is needed to help develop and maintain marketing strategies for product...
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