Please enable JavaScript.
Coggle requires JavaScript to display documents.
MARKET ANALYSIS (industry description and outlook (describe the industry…
MARKET ANALYSIS
what is it about?
industry
target market you are
planning to sell to
competition in the market
how to make your business
unique and stand out
industry description
and outlook
describe the industry with enough
information so that people can understand
size of industry
growth of industry
challenges of the industry
future outlook
target
market
who has been identified as
an ideal client or customer
include demographic info
e.g age, gender
size of potential market
how much it might spend
how to reach potential customers
market need
focus on how product/service
satisfies market need
focus on why customers will
choose you over competitors
competitive edge
market
growth
growth trend over the
years - increase/decrease
forecast by projecting change
within 3 to 5 years
market
trends
anything that alters/changes the
market e.g change in technology
competitive
analysis
focus on what direct
competitors are doing
doing well - learn from them
doing poor - capitalise on them
barriers to entry
& regulations
high startup costs or other
obstacles that prevent competitors
from entering market
technical
knowledge
specialized product
service that is tough to perfect
strict regulations and
licensing requirements