How Do You Prepare A Market Analysis?
Preparing a market analysis report provides insights into the needs of prospective customers, and identifies the strengths and weaknesses of your competitors. Successful businesses have the ability to meet customer needs in ways that competitors do not. Your market analysis will help you identify and clarify those opportunities. Having your market analysis documented will also help you to attract funding resources. Step 1 Write a concise overview of your industry. Include size, history, five- and 10-year revenue projections and market trends. Document seasonal, geographic or regulatory impacts on your industry. Explore how your industry performs in a variety of economic conditions. Step 2 Define your prospect base on a measurable level. Document age, sex, race, occupation, household income, rent vs. own, ZIP code population, spending habits and number in household. Now look at your prospects on a human level and see what you can deduce about their behavior. Consider whether they are lo
