Preliminary Market Analysis Template

This questionnaire has been designed by Abbey Road Training Limited in order to assist you while conducting a preliminary analysis of your potential market, identifying your customers and competitors.

Industry Analysis

1. Market Characteristics

This section should outline the local Music Production and Sound Engineering education market characteristics, such as:

Music Production and Sound Engineering education market size (in local currency and/or student population) and growth rate (annual rate in percentage) by geographical region or sales territory.

Music Production and Sound Engineering education market potential, industry/expert forecasts.

History of the Music Production and Sound Engineering education market (how it has evolved), market stage (e.g. new market, mature market, etc.).

Music Production and Sound Engineering education market structure.

Level of competition, dominant players, presence of conglomerates, noticeable past failures, noticeable new entries.

Trends in supply and demand.

2. Trends & Drivers

This section should provide an analysis of the trends and drivers currently affecting the local Music Production and Sound Engineering education market, such as:

Major Music Production and Sound Engineering education market trends, fashion and fads.

Major drivers of change.

New categories of service users, based on:
a) demographics such as age, gender, income, education, occupation, etc.
b) psychographics such as benefits desired, habits, values, attitudes, lifestyle, behaviour, opinions, etc.

3. Legal, Political & Economical Factors

This section should include exogenous factors that could positively or negatively impact the local Music Production & Sound Engineering education market characteristics, such as:

Present and future laws and policies affecting the Music Production & Sound Engineering education market.

Presence of government agencies and regulating bodies.

Government spending in education.

International trade developments (e.g. FTAA, EU, etc.).

Political climate (e.g. stable, war setting, etc.) and stability of government.

4. Socio-cultural Factors

This section should take into consideration all those social and cultural aspects that could have an influence on the local Music Production & Sound Engineering education market, such as:

Lifestyle and socio-cultural.

Changes in use of disposable income.

Changes in investment in educational services.

Level of social mobility (movement of individuals from one societal class to another).

5. Technological Factors

This sectiontech should take into consideration all the technological factors that could affect the local Music Production & Sound Engineering education market characteristics, such as:

Breakthrough technology or processes, technology under development.

Rate of technological innovation

Relative cost of technology, research and development.

Sections 3, 4 and 5 are usually referred to as PEST Analysis (Political, Economic, Social and Technological). It is important to carefully consider all these factors, as these are widely recognised to have a substantial impact on the Education industry.

Competitive analysis

1. Competitive Landscape

Indicate level of competition in the Music Production and Sound Engineering education industry (e.g. fierce, moderate).

Indicate volatility of competition in industry: number of yearly new players and failures.

Describe type(s) of competition affecting your business (product/service competition, competition at the level of corporate/marketing strategy or business model, or competition based on specific attributes such as price, quality, features, etc.).

Identify the Music Production and Sound Engineering education industry competitive barriers to overcome and state how you have dealt or will deal with them.

Identify potential sources of competitive advantage.

2. Key Players

Identify main sources of competition (direct competitors, indirect competitors, substitutes, potential entrants, related services) and evaluate relative intensity of competition arising from each source.

Identify major and minor competitors and list them in categories based on source type (refer to above item) and/or based on their threat level.

Identify the factors that give power to competitors (e.g. marketing strategy, superior service, established company, strong financial backing, expertise, relationship with key industry members, etc.).

Identify the strategies and/or market conditions that have allowed competitors to achieve good results and, if applicable, what has caused them to fail.

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Industry and Competitor Analysis Questionnaire