Description:
The material this week reiterated what a market analysis is and how it can be used by
companies- Market analysis is essential for a business looking to make decisions
about their industry and potential customers- This assignment will be the creation of a
miniatue market analysis for you couse project company- rt’s important that you
choices reflect the strategic goals set in you previous couse project assignment-
None of these assignments are created in a vacuum- All decisions should be related
as this is really one large strategic management plan document- Look back in the
couse material and at you past assignment if you need to remind youself- By the
deadline this week, you’ll need to write a market analysis for you company that’s at
least two pages in length and completes the following:
Industry Description Create a general industry description- If you business operates in
multiple industries then choose the one you’d like to focus on-
is the industry shrinking or growing and how much money is spent in that industry
annually?
What stage is you company’s product at in the product life cycle? Explain you
answer-
What are three possible target markets for you business in this industry and what
reasons did you have for choosing each?
Target Market Choose one target market from the three you identified in the industry
description and define it-
What are the basics characteristics of you target market?
What featues and benefits is this target market looking for from you business?
Explain you answers-
ls this target market a niche or more of a main topic for companies in you industry?
Explain you answers-
Oompetitive Analysis identify the most successful business that you’ll be competing
against-
What are two strengths and weakness of you competitor?
Who is the target market that they pusue and what do you see to support this
opinion?
