Market Analyses

By Pamela Hubbell

In a Market Analysis, your objective is to describe a market's size, history, recent growth trends, expected future growth, and geography. You should also identify who the customers are and what their needs are; barriers to entry; economies of scale; projected changes in the market; methods of distribution and sales; and methods of advertising and promotion.

If your Market Analysis is part of a Business Plan, you should show how the company's product fits into the market.


Writing the Market Analysis

 

Generally, in your Market Analysis you should do the following:

Describe the customer need

 


Describe the general characteristics of the customers

 


Describe the major competitors and their relative positions

 


State the target market within the overall industry

 


Provide a brief history of the industry and the major players

 


Describe how the industry operates (this includes the sales and advertising methods; any factors that determine the nature of the business such as technology; ease of entry into the market; economies of scale; and factors affecting sales such as price, quality, or brand loyalty)

 


Describe the industry's past growth and expected future growth

 


Note any applicable government regulations

 


 


Reference

 

Lasher, William. The Perfect Business Plan Made Simple. New York: Doubleday, 1994. 66-7.

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