ABSTRACT
Characteristic of a market is the act of exchange of products or services. The fast-changing technological development during the latter part of the 20th century has changed the market trends throughout the world drastically. The market environments that are prevailing outside as well as inside of an organization (macro- and microenvironments, respectively) have also changed. This chapter begins with deliberation on the factors that influence these market trends, followed by market analysis process. Based on the data gathered from market analysis, the salient features of the market characteristics can be arrived at. This chapter goes on to discuss assessment of future demands (forecasting). This chapter also covers market strategy and planning for penetrating the market.
