Industry Analysis Business Plan

Industry Analysis Business Plan-46
How does the competition work to solve those issues? If you’d like to open a pizzeria, try pies from surrounding restaurants.

How does the competition work to solve those issues? If you’d like to open a pizzeria, try pies from surrounding restaurants.

As a customer, what problems do you have that need to be solved?

What would you like to be able to do better, faster, or cheaper that you can’t do now? Shop the Competition – If you have a clothing store, visit others in your area.

Talk about its size, how it’s growing, and what the outlook is for the future.

Target Market – Who have you identified as your ideal client or customer?

A market analysis is just that: a look at what the relevant business environment is and where you fit in.

It should give a potential lender, investor, or employee no doubt that there is a solid niche for what you’re offering, and you are definitely the person to fill it.

Why will customers want to do business with you, possibly choosing you over someone else?

This is where you can briefly introduce the competitive edge you have, although you’ll get into that in more depth in following sections.

In this section, you can cite experts from the research you’ve done-a market expert, market research firm, trade association, or credible journalist.

Market Research Testing – Talk about what kind of testing and information gathering you’ve done to figure out where you stand in the market.

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