Besides, what should be included in a market analysis?
- Identify your audience.
- Define your target consumers.
- Explain what market need you satisfy.
- Analyze the industry.
- Identify market trends.
- Provide a competitive analysis.
- Draft a short summary of the market analysis.
- Adjust the other sections of your business plan.
How do you identify your target market?
- Look at your current customer base.
- Check out your competition.
- Analyze your product/service.
- Choose specific demographics to target.
- Consider the psychographics of your target.
- Evaluate your decision.
- Additional resources.
What is the purpose of a target market?