Evaluating Market Trends for Strategic Adaptation

Assume the role of a strategic business analyst and provide a comprehensive guide for evaluating market trends to effectively pivot business strategies. Outline a step-by-step methodology that includes identifying key trends, analyzing competitive landscapes, and assessing consumer behaviors. Offer techniques for data collection and analysis, tools for tracking industry changes, and strategies for aligning business objectives with market insights. Include examples of successful trend adaptations and suggest ways to monitor ongoing changes. Tailor the guidance for a company looking to adapt swiftly to market shifts and optimize its strategic planning.