Market Analysis

Create a Market, Marketing Strategies and Sales section for a business plan. Please read attached document for the business description. 

 

The Market

Provide a brief description of the market you will be competing in. Here you will define your market, how large it is, and how much of the market share you expect to capture. It is important to reference credible sources and include the name of your source(s) of information along with a date. Indicate how you will market the products/services and which channels will be used to deliver your products/services to your target market(s) (i.e. website, direct sales force, Value Added Resellers, channel partners, etc…). Be sure to answer the following questions that are usually asked by potential investors:

• What are the key drivers, trends, and influences in the market? 
• To whom do you market your products and services?
• How will you educate your customers to buy from you? 
• Who is your target market?

Competition

It is important to show the reader that you have investigated the competition. Identify the direct and indirect competitors, with analysis of their pricing and promotional strategies, as well as an assessment of their competitive advantage. Based on this analysis, you can identify key obstacles for your business, the additional services you might offer, competitive challenges, as well as opportunities ahead. Briefly describe the competitive outlook and dynamics of the relevant market in which you will operate. Be sure to answer the following questions that are usually asked by potential investors:

• Is your service better, faster, cheaper and if so why?
• Is your advantage a temporary “window” and are there steps you can take to protect your position? 
• What have you learned from the competition? From their advertising?
• How is their business currently? Steady? Increasing? Decreasing?

You may also wish to include the following table:

   

Competitor Name

Sales

Market Share

Nature of Competitor

 

 

 

Main Competitors