Market Analysis Mocfish Market Analysis

Market Analysis

MocFish Market Analysis

Current principle customers are retail businesses that are trying to expand to online sales, or to improve existing websites to increase online sales. Current research shows that purchasers of new technological innovations still make up less than half of all business in Canada in the goods production sector, which includes retail sellers, meaning there is a large market for the purchase of such products if they can be efficiently developed and effectively marketed (Urbach et al. 2009). Large companies are even less likely to have purchased such technologies, yet focusing on large-scale contracts could prove difficult and limiting for the MocFish team (Urbach et al. 2009). Instead, small- and mid-sized retailers in areas of high growth, such as the automotive, personal care, and home furnishings sectors that can be reached through direct marketing efforts will be focused on (Mohammed 2008).

Market Trends

The number of regular Internet users in Canada, the overall rate of use for each user, and the use of the Internet to research and purchase products have all risen dramatically in the past decade (Office of Consumer Affairs 2011). Increasing ease of Internet access and its affordability have been major drivers of this trend, and have created fast-growing retail markets in a number of different industries (Office of Consumer Affairs 2011; Mohammed 2008). Current trends suggest a rapidly expanding market with a significant portion of market share attainable even by a small business; share will be limited only by capabilities at this point.

Competitors

As most competitors are similar in size and scale to MocFish, it is difficult to obtain accurate and comprehensive information regarding competition. There are few major web-design companies that operate on a large-scale basis due to the nature of the business, which is highly design-intensive, and the large companies that do exist will not be competing directly with MocFish for the smaller contracts of small- and medium-sized businesses (Office of Consumer Affairs 2011). MocFish will provide more direct and personalized service than many competitors, however, and the comprehensiveness of the services offered by specialized professionals-from the design to the software coding to the writing of site content -- also sets MocFish apart from many development firms and professionals working in the Candian retail industry (Mohammed 2008). The rate of market growth and size of the untapped portion also reduces the effects of competition in the industry (Urbach et al. 2009).

Market Share and Sales

As stated above, it is impossible to predict total market share in terms of a percentage or direct proportion. The growth in the demand for web development services vastly outstrips supply, and with a large part of the retail sector still untapped in terms of website sales it will be impossible for any small competitor to capture a major portion of market share (Urbach et al. 2009; Mohammed 2008). Sales will only be limited by the potential of the company to produce the products sold, however, meaning a substantial amount of revenue can be generated.

Ongoing Market Evaluation