Market Analysis

Before creating a marketing plan, understand the external and internal factors that may affect it.

Marketing

Market Analysis

To create an effective marketing plan, you need to understand the key areas that could impact your marketing efforts. This could be the local market as well as the national market. Understanding these factors can be instrumental to a successful marketing program.


You may have gathered this information when you created your business plan and conducted a demographic study and SWOT  (strengths, weaknesses, opportunities and threats) analysis.

Your situation analysis might begin by analyzing:

  • Patients – Evaluate the need for your services from the perspective of prospective patients in the area. Do they have any unmet needs for chiropractic services?
  • Colleagues – Though most chiropractors consider other chiropractors in their area to be colleagues rather than competitors, it's important to consider how they are positioning their practices in their community. What are their areas of specialty? Are there any gaps in the chiropractic services offered to your community?
  • Practice – As you look to your patients and colleagues, consider your core strengths. You can only fill an unmet need if you have the skills and resources to do so.

You may also want to consider other components such as:

  • Location – Are there advantages or disadvantages of your practice location?
  • Geography – Can you attract patients from nearby or do you need to expand your reach?
  • Community – Do you live in an area that is welcoming to chiropractic?
  • Competitors - Are there alternative health options that might compete with your practice?
  • Growth – Is the community growing? How does this affect your marketing region?

The information in the NCMIC Learning Center is offered solely for general information and educational purposes. It is not offered as, nor does it represent, legal or professional advice. Neither does this information constitute a guideline, practice parameter or standard of care. You should not act or rely upon this information without seeking the advice of an attorney familiar with the specific legal requirements of the state(s) in which you practice. If there is a discrepancy between the site and an insurance policy you have with NCMIC, the policy will prevail.