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What is Market Analysis?
In the general sense, marketing is ``the science and art of convincing customers to buy``. Philip Kotler defined marketing as ``a social and managerial process by which individuals or groups of individuals get what they need and want through creating, offering and exchange of goods and services a certain value``. Simplistically, marketing is the art and science of selling.
Before the advent of market analysis, most companies focused on products, employing teams of vendors to push products into the market without taking into account the real needs of the market. An organization oriented on the market needs first determine the wishes of its potential customers and then builds the product or service. Marketing theory and practice are justified by the belief that customers use a product or service because they have a need, or because the product or service brings to them a supposed benefit.