I need an explanation for this Business question to help me study.
Deliverables for this assignment are: 1. Market analysis
One of the initial stages in developing a business plan is to perform a market analysis. For this PA, you will develop a focus on and include: industry attractiveness, target markets, and customer needs. Having confidence in your abilities and the right product or service will not accomplish much if you do not know how to get them into the hands of potential customers.
Using your textbook as a guide, perform research to complete your market analysis and be sure to address key areas such as target market, future projections about the target market, and trends. This requires research and analysis and not just your opinion. This section of your business plan should represent a significant portion because it also encompasses your company, competitors, and potential customers and their needs.