IV. Market Information Market Analysis for Brands Market now has multiple meanings. The original one signifies the place for people to buy and sell products. But its meaning has changed now. It refers to all business transactions presently. We have too many customers whose demands and habits are dissimilar. That’s why every single brand has to get the most favorable market information for surviving in marketing. Market segmentation is an initial step to grasp market information. Numerous clients have various gateways to shop; therefore, two analysis, “Regional Analysis 1”, and “Demographic Analysis2,” are common market analysis. Regional Analysis is related to location. Myriads of brands localize their sales and advertisements for adapting needs for the inhabitants of various areas. For example, if department stores are close to school districts, shoe brands will sell a large number of young style shoes for students. In terms of Demographic Analysis, we can divide customers into several target markets on the basis of salaries, ages, genders, family status, social position, education, profession and so on. For instance, at the present time, most females are career women. These matrons are facing double pressures from economy and their families. For this reason, a famous shoe brand in Taiwan created comfortable high 1 Regional Science : http://www.springer.com/economics/regional+science/book/978-3-7908-2085-0 2 About.com : http://biztaxlaw.about.com/od/glossaryd/a/demographics.htm heels shoes with air cushion for bodily relaxation. The major thing for brands to do after market segmentation is to produce shoppers’ ideal products, i.e. the products clients want to have. A good market segmentation is done according to customers’ needs to assorted shoes. An excellent shoe brand from America specializes in making multi-style and elegant super high heels for confident, active, extrovert women who have high concept of money. Such a strategy focuses on clients’ need, so it is also called psychological analysis. The best formula to comprehend markets is “PEST Analysis 3 (on Future Tendency).” If brands want to manage sustainably, they should know the future development and market forecast. However, they are not seers, so they can’t just have a dream to project what will happen tomorrow. Therefore, to understand the essential points of “PEST Analysis” for brands is definitely necessary. P = Political Environment – Observing political environment embraces the policy of finance, situation, and industry. E = Economic Environment – Observing economic environment that comprises inflation, investment index, and work status. S = Social Environment – Observing social environment including the change of lifestyles, customers’ trend, and population statistics. 3 The definitions of PEST Analysis are quoted from http://zh.wikipedia.org/wiki/PEST%E5%88%86%E6%9E%90 T = Technology Environment – Observing technology environment involving the manufactures of production, technique, and materials, These units can help a brand to know the market tendency in the future, and seek for any expandable possibilities and latent juncture to mold whole markets.