A market analysis studies the attractiveness and the dynamics of a special market within a special industry. It is part of the industry analysis and thus in turn of the global environmental analysis.
The Importance of Marketing Analytics
Marketing analytics, Internet (or Web) marketing analytics in particular, allow you to monitor campaigns and their respective outcomes, enabling you to spend each dollar as effectively as possible.
The importance of marketing analyics is obvious: if something costs more than it returns, it's not a good long-term business strategy. In a 2008 study, the Lenskold Group found that "companies making improvements in their measurement and ROI capabilities were more likely to report outgrowing competitors and a higher level of effectiveness and efficiency in their marketing." Simply put: Knowledge is power.