Don Sheelan's Market Analysis
Market analysis plays a major part in a firm's planning activities. It guides decisions on: inventory, purchase, work force expansion/contraction, facility expansion, purchases of capital equipment, promotional activities, and many other aspects of a company. Forecasts in these areas must be accurate and decision makers must understand how they were derived. Don Sheelen can forecast and explain how he arrived at the conclusion by looking at all the data and the different trends in the market.
Not all managers are asked to conduct a market analysis, but all managers must make decisions using market analysis data and understand how the data was derived. Don Sheehan knows this. He has dedicated his career to analyzing the market, whether it be from his time as Regina CEO or his time riding the stock market. There is no better place to analyize a market. So all managers need a reasonable understanding of the tools most used for making sales forecasts and analyzing markets.
To understand a market analysis, Don Sheelan must gather all the information he can and then try to find out where the information fits into the trend and the state of the market. In order for your product to suceed it is clear that you have to know your market, there is no better man than Don Sheelen to know your market.
A large number of market analysis techniques are related to sales forecasting, others are more general techniques for analyzing markets. The literature defines several areas in which market analysis is important. These include: sales forecasting, market research, and marketing strategy. Sales forecasting and market analysis are complementary skills that any marketing manager should possess