Market Analysis In A Business Plan

Market Analysis In A Business Plan-32
Unless you can think of a compelling, distinctly different, third target market, identify only primary and secondary target markets. We can't provide a specific answer to that question because it depends on the target markets you have identified and the information sources available to you.Assignment 9: Identify and briefly describe at least two and no more than three target markets for your e-business. However, here are some suggestions: Business Case Box 5 In conducting research about target markets, the business case writer has a big advantage over the business plan writer.For example, perhaps individuals in this market don't have a need for your specific product, your product costs too much, the customers never find your site, they don't have enough information or trust to buy from you, or because they find a better deal from a competitor.

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The primary market is the group of individuals in the addressable market most likely to buy your product or service.

Think of the primary market as your "premium customer," "who is most likely to find my site and buy something from it," or "who is chiefly interested in what I have to sell." Identifying the primary target market requires you to consider the potential and addressable markets, as well as the value proposition you wrote earlier.

Conclude this process by describing this market using the segmentation factors outlined previously.

In a full-scale business plan, the market analysis is part of the marketing plan section, which includes: A business plan tutorial for a marketing course would cover all these areas in considerable detail.

However, the most important section for e-commerce professionals is the market analysis so that is the focus of this lesson.


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