Doing a market analysis. PESTLE and TOWS analytical frameworks
Launching a successful business in any industry requires doing a market analysis. The latter refers to the process of studying the dynamics, attractiveness and trends of a particular industry of economy. Market analysis is an integral component of an industry analysis. In practice, the majority of all market analyses facilitate in strategic planning and tactical execution of the strategy, supply chain management, designing and implementing marketing strategies and identifying the most appropriate targeting and positioning schemes. This entry analyzes the most essential components of a market analysis and provides basic insights into how to carry out them in tourism ...