Help Yourself to Market Analysis

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Lesson #1

Market Analysis = where and to whom you will market your product or service

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Exercises

Defining your Business Idea

 

Market Analysis and Market Strategy & Promotion make up the marketing part of your Business Plan.

                          

Market Analysis tells you where and to whom you will offer your product or service. Market Strategy & Promotion tells you how you’ll reach out to these people.

 

In this course, you will evelop a initial draft of your Market Analysis.

 

The 3 steps of market analysis are:

1. Defining your business idea

2. Identifying target markets

3. Evaluating your competition.

 

1. Defining your business idea:

What kind of business do you want to own?

 

If it’s a restaurant, will you offer quick service or a dining experience?

If retail, will you sell children’s clothing or high fashion wear?

 

Whatever your vision, you need to communicate it to your target audience.

 

How does each of these choices affect the name you choose, what you sell, how you sell it, all part of Market Strategy & Promotion in the other marketing program.

The best way to plan where to make sales is Market Analysis.

After completing the exercises go back to your email and order your next lesson