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BUSINESS PLAN DEVELOPMENTMarket Analysis,

Marketing & Competition

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Thinking Strategically

Business Plan

EnvironmentalAnalysis

OrganizationalAssessment

External Internal

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Market Analysis

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Purpose of a Market Analysis

Determining the size and growth potential of a market

enables a firm to predict many things about the market,particularly with respect to competition.

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What to Include in a Market Analysis

A discussion of the likely effect of opportunities and

threats on the number of customers

A discussion of applications or approaches that have

the potential to redefine the companys market

Estimates of the overall size of the market

A description of the changes in the target market

over the past 5-10 years

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Terminology

MARKETThe set of all actual and potential buyers of aproduct

POTENTIAL

MARKET

The set of consumers who profess a sufficient

level of interest in the market offer

AVAILABLEMARKET

The set of consumers who have interest, income,and access to a particular market offer

TARGETMARKET

The part of the available market the companydecides to pursue

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Market Segmentation

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Market Segmentation: Consumer

Markets

Grouping customers is a more practical way of meeting

needs than thinking of customers either as individuals or

as one large mass. Groups should comprise thosecustomers that respond to your products and services in

similar ways. By planning a business around these

customer groups, needs can be served effectively.

Geographic Demographic Psychographic Behavioral

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Consumer Markets: Geographic

Variables

Region

City or

metro size

Climate

Density

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Consumer Markets: Demographic

Variables

Age

GenderOccupation

Education

Religion

Income

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Lifestyle

Consumer Markets:

Psychographic Variables

Club memberships

Social activities

TV viewing habits

Hobbies

Vacation preferences

Rugged

Excitement

Sincerety

Personality

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Consumer Markets:

Behavioral (Product Usage) Variables

Occasions

Benefits

Usage rate

User status

Loyalty status

Buyer-readiness stage

Attitude towardproduct

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Consumer Markets: Product Adoption

Late

majority

Early

majority

Early

adopters

Innovators

Rateofadop

tion

Laggards

2.5%

13.5%

34% 34%

16%

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Market Segmentation: Business

Markets

Business markets can be segmented with many of

the same variables employed in consumer market

segmentation, such as geography, benefits sought,

and usage rate. Yet business marketers also useseveral other variables.

Demographicvariables

Operatingvariables

Purchasingapproaches

Situationalfactors

Personalcharacteristics

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Business Market Segmentation

Demographic Variables

Operating Variables

Industry

Company

size Location

TechnologyUser

status

Customercapabilitie

s

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Business Market Segmentation

Purchasing Approaches

Purchasing-function organization

Power structure

Nature of existing relationships

General purchase policies

Purchasing criteria

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Business Market Segmentation

Situational Factors

Personal Characteristics

Urgency

Specific

application Size of order

Buyer-seller

similarity

Attitude

toward riskLoyalty

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Marketing plan

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Checklist For The Marketing Plan

List information on the industry that the business

will compete in

What is the profile of the customer or variouscustomer groups?

Describe the benefits provided to the customer?

Describe the customers need for the product /

service.

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Checklist For The Marketing Plan

Describe approach for selling the product / service to

the end user.

How will the packaging and labeling enhance name

identification and brand loyalty?

What advertising / promotion media will be used for

the distribution system and for the end users?

What are the reactions to the product / service from

prospective customers?

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Checklist For Competition

List direct competition by product and geographicmarket.

List the indirect competitors by product and

geographic market.

List emerging competitors entering the industry or

market.

Describe the competitors strengths and

weaknesses by product and market segment

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Checklist For Competition

Describe the competitors share of the market by

product.

Discuss relevant background information

concerning major competitors

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Group Members

Parul Patial - 1030

Sanveen Kaur - 1046

Suman Hooda - 1052

Shailja Pandey - 1060