Level 3 Project 2
Creating a Business Plan Continued- Market Analysis Summary
The market analysis is a section in a business plan that begins to paint a picture of your customers and the overall market conditions in the area that you plan to operate. It will begin to tell you about the that presents s, the purchasing habits of customers in that market, and information about competitors. This section will show that you have researched the type of customer you are looking for and how you will grow your business. It will also be the basis to start to develop the financial section of your business plan. By planning who you want as customers and how you will develop and grow your business over time, you will have an easier time getting a loan or attracting investors/ partners.
Activity1 Read the following article How to write a Market Analysis
After reading the article, make a list of things that are necessary for a market analysis.
Activity 2 Using the following example, create a Swot analysis. This is a basic analysis you can use to get some general ideas for your market analysis. This type of analysis is usually done during a strategic plan before your actually start your company. View the follow examples of SWOT analysis of famous companies to get an idea.
Activty 3- Create your own SWOT analysis for your bakery. At this point in the project, this will suffice. If you decide to move forward and open up your foodservice establishment, you will most likely hire some sort of marketing person to help you will the full analysis. There is a template you can use to create this in the bottom of the example section from the above article. Blank SWOT ANALYSIS