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Trend Analysis

trend analysis

Companies must evolve in order to stay ahead of competitors and increase sales. They add new products or services in order to stimulate existing customers to purchase more from them. They seek out new emerging markets and develop new products to meet the needs of customers in these markets. Trend analysis reports are useful tools in this process of long-range business development. The analysts preparing the reports look for statistical trends such as which demographic groups are experiencing the fastest rate of growth. They look at trends in consumer preferences such as the desire to consume healthier foods and beverages. Technological developments are also monitored because they are sources of new product ideas. The objective of a trend analysis report is to identify growth opportunities the company could take advantage of -- before competitors do.

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