Friday, December 9, 2011

ENT640 Market Analysis Section of the Business Plan Overview

What should be included in your market analysis section?

In this section your market, your niche and the demand for your product supported by documentation. The potential market share should be listed.  In order to do this section justice, you should have completed plenty of market research. If someone is going to invest in your company then they want a return on their money. The more evidence that can be shown through documentation of the potential market share, then the more feasible your plan becomes.

The three C’s should be included; customer, competition and company. The customer demographics for your product are very important. Those individual must be identified.  Any company that does not know the characteristics of their customer does not know how to market to their target audience. Whether your business is a start-up company or an existing business, it critical that you understand who and what the completion is doing. Also it needs to be explained why your company can do it better than others. 

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