| Business plan definition market analysis
Benefits of defining the market within the business plan
Defining and analyzing the market within the business plan is important beCause it allows you to visualize the characteristics of the customers that will consume the Products or services defined in the business plan. business and finally it will be the source of income of the company for its sustainability and permanence in the market over time.
The benefits obtained by defining and analyzing the market within the business plan are the following:
1) Identify the segments and niches of the market where you want to enter with the Products or services defined within the business plan.
2) Identify the Potential Market, the Target Market and its consumption estimates.
3) Identify the levels of consumption of customers to perform sales projection and availability of inventory or service capacity.
4) Define the characteristics of the Products or services addressed to meet the need of the defined market to obtain sales and generate brand positioning.
Impact of not defining the market within the business plan
The impact of not analyzing and defining the market within the business plan is reflected as follows:
1) Ignorance of buying habits and market needs .
2) Ignorance of the characteristics that Products or services must have to be consumed by the market.
3) Lack of information to define brand positioning and sales generation strategies.
4) Loss of resources in the Production of the Product or Implementation of the service beCause the final result is not the one desired by the market.
5) High probability of closing the company.
Format to analyze the market within the business plan sample
To launch a Product or service in the market, it is important to analyze and define the market taking into account the following aspects:
1) Potential Market: Here you define all the prospects that are part of the potential market by Product or service.
2) Target Market: Here you define all the prospects that are part of the target market by Product or service.
3) Justification of the Target Market: Here are the arguments that support the decision of theTarget Market defined.
4)Estimation Potential Market: Here are the arguments that support the decision of the Potential Market defined in the item (Potential Market).
5) Apparent consumption: Here you define the consumption of customers in a pessimistic scenario.
6) Per Capita Consumption: Here are the arguments that support the annual per capita consumption decision defined in the item (Potential Market).
7) Magnitude of the need: The needs of the consumers that motivate the purchase of the Products or services established in the business plan are presented here.
8) Consumer profile: Here we present the minimum characteristics that the consumer must meet, the other characteristics are defined in the item (Market niche).
9) Market niche: Here you define the characteristics of each niche associated with a market segment.
10) Complementary Products: Here you define the list of Products that extend the benefit offered by the Products and services defined in the business plan.
11) Substitute Products: Here you define the list of Products that can supply the Products or services defined in the business plan.
Aspects that can be clarified by making with judgment the elaboration of the points related to the market analysis defined in the business plan document.
Next, we offer a basic example elaborated in Word to define the market analysis, where; You can identify the status of the aspects listed for the Products or services that you want to launch in the market.
The example is not 100% complete beCause the objective is to offer an idea on how to analyze the market, not to have a 100% complete market analysis to proceed with its execution.
Created by El portal web - Being its last update the: 2020-01-02Download templateSend commentOther topics of interest |
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