Marketing Analysis

Market analysis is the process of determining factors, conditions and the characteristics of a market. (Dictionary.com, 2014) A complete feasibility study shall be done for a development and it should be included the market appraisal, site and location analysis and the fulfilment of policy. Policy, site and location analysis need to be initiated first to determine a suitable development on the proposed site then the market appraisal will be carried out to identify the viability of the development. There are two types of analysis which can be carry out for the market appraisal which are SWOT (Strength, Weakness, Opportunities and Threats) and PESTEL (Political, Economic, Social, Technology, Environment and Legal). PESTEL is originally known as PEST analysis, this is a macro environmental framework used to understand the impact of the external factors on the organization and is used as strategic analytical technique. (BPMgeek, 2011) This could help to identify the key aspects which needed to be consider by the developer in a development. Once the type of development has been decided, then SWOT analysis will be take in to place to identify the viability of the development. SWOT analysis is a framework for identifying and analysing the internal and external factors that can have an impact on the viability of a project, product, place or person. (TevhTarget, 2014) This could analyse the advantages of the development which are Strength and Opportunities and also the disadvantages of the development which are Weakness and Threats.

Figure 1: SWOT (cerasis, 2013)

Figure 2: PEST (projectsmart.co.uk, 2014)

Through this lecture, I have more understand and have the knowledge in the implementation of the market appraisal for a development. This lecture had help me in improving the decision making skill and also accessing the environmental risk factor which associated with a development. 

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