market analysis summary sample business plan

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Market analysis summary sample business plan school ghostwriters websites usa

Market analysis summary sample business plan

Consumers are reached through five types of outlets.. We currently have access to four of these channels, representing 75 percent of watch sales. Channel development is necessary to reach the total watch market. A majority of branded fashion watches are currently purchased at department stores. We will take advantage of our strong distribution through department, discount, and drug stores to assure widespread availability of Spree watches.

Jewelry store channel development will be deferred until we are established in our traditional retail channels. Although there are fourteen competitors in this market, there is substantial concentration. Swatch, Fossil, Guess? Swatch and Fossil have strong manufacturing and distribution skills, while Guess? Fossil and Swatch are strong at the lower price lines. Branded fashion watches are a relatively new product category.

Although pioneered by Swatch, there is considerable opportunity for new entrants as demonstrated by Fossil and Guess?. General currently distributes products through channels accounting for 75 percent of watch sales. Branded fashion watch sales are growing faster than our current product lines. Our innovative product, product design skills, strong manufacturing skills, and experience in distributing consumer clocks provide an opportunity for entry and growth in this market. We will introduce between 30 to 40 different designs in the first year.

One quarter of these will have a "metal" case, copying many of the traditional and modern metal designs. These are targeted at consumers 25 and over. We will design a series including licensed characters and unusual shapes for the market segment under 24 years of age. Swatch does not have exclusive licensing for Disney and Warner Brothers characters or Coke. By using these and others we will have a variety of product and character designs in our line.

The most unusual aspect of our line will be some very unusual shapes. Several of these will be geometric; hexagon, trapezoid, oval, and diamond. For younger ages our technology allows the design of watches in the shapes of cartoon character faces. We believe that we have product quality and feature advantages, encouraging the use of a price slightly exceeding Swatch.

This pricing strategy, coupled with our efficient production methods, aids in achieving our relatively high market share for a new product entry. We will introduce Spree in the northeast but within the first year sell to the national market. With our current strong distribution channels nationwide covering 75 percent of watch sales, we will limit our potential if we restrict our distribution to specific regional markets.

Although we do not currently have jewelry stores, our distribution will place watches in at least 75 percent of locations in the United States. We will use current normal distributor markups. Five new sales representatives will be added to assist in the development of new distribution outlets.

A sales trainer will be hired to train the sales force in the new product. Consumers will not know our brand; therefore, we will have to advertise more aggressively to achieve brand awareness. Although our market share goal in is three percent, we will set advertising at one million dollars. Table 3 : Fashion Watch Advertising and Voice. Media will be targeted to our major market segments; women between 18 and 24 and between 25 and Smaller amounts will be directed to other segments.

The Spree watch project will break-even in the first year. We do not expect any watch technology breakthroughs during this period. Competition is expected to be based on design, price, and achieving widespread distribution, areas in which we expect to be very competitive. In conclusion, we will invest one million dollars in the Spree watch project. We can achieve sufficient market share to achieve our financial and marketing objectives. During the next five years the market is expected to grow and our costs are expected to decline with experience increasing unit contribution.

Our greatest challenge will be tracking the market's tastes in watch design and meeting and leading these with creative and innovative designs. It is not expected that there will be increased price competition due to the entry of the Spree watch. Increased advertising, however, might lead to an increase in industry advertising. A sensitivity analysis of the effect of increased advertising on our break-even year and cumulative profits appears in Table 4.

We would first factor in the size of the businesses in our delivery range in order to come up with the size of the desks park. Then we would try to estimate the renewal rate of the park to get the volume of annual transactions. Finally, we would apply an average price to the annual volume of transactions to get to the estimated market value. You should be able to find most of the information for free in this example.

You can get the number and size of businesses in your delivery area from the national statistics. Your accountant should be able to give you the useful life of a desk but you should know it since it is your market! You can compare the desk prices of other furniture stores in your area.

As a side note here: it is always a good idea to ask your competitors for market data just don't say you are going to compete with them. The top-down approach consists of starting with a global number and reducing it pro-rata. Once again the number of employees would only be a rough proxy given all business don't have the same furniture requirements. When coming up with an estimate yourself it is always a good practice to test both the bottom up and top-down approaches and to compare the results.

If the numbers are too far away then you probably missed something or used the wrong proxy. Once you have estimated the market size you need to explain to your reader which segment s of the market you view as your target market.

The target market is the type of customers you target within the market. For example, if you are selling jewellery you can either be a generalist or decide to focus on the high end or the lower end of the market. This section is relevant when your market has clear segments with different drivers of demand. In my example of jewels, value for money would be one of the drivers of the lower end market whereas exclusivity and prestige would drive the high end.

Now it is time to focus on the more qualitative side of the market analysis by looking at what drives the demand. This section is very important as it is where you show your potential investor that you have an intimate knowledge of your market. You know why they buy! Here you need to get into the details of the drivers of demand for your product or services.

One way to look at what a driver is to look at takeaway coffee. One of the drivers for coffee is consistency. The coffee one buys in a chain is not necessarily better than the one from the independent coffee shop next door. But if you are not from the area then you don't know what the independent coffee shop's coffee is worth it. Whereas you know that the coffee from the chain will taste just like in every other shop of this chain.

Hence most people on the move buy coffee from chains rather than independent coffee shops. From a tactical point of view, this section is also where you need to place your competitive edge without mentioning it explicitly.

In the following sections of your business plan, you are going to talk about your competition and their strengths, weaknesses and market positioning before reaching the Strategy section in which you'll explain your own market positioning. What you want to do is prepare the reader to embrace your positioning and invest in your company.

To do so you need to highlight in this section some of the drivers that your competition has not been focussing on. A quick example for an independent coffee shop surrounded by coffee chains would be to say that on top of consistency, which is relevant for people on the move, another driver for coffee shop demand is the place itself as what coffee shops sell before most is a place for people to meet.

You would then present your competition. And in the Strategy section explain that you will focus on locals looking for a place to meet rather than takeaway coffee and that your differentiating factor will be the authenticity and atmosphere of your local shop.

The aim of this section is to give a fair view of who you are competing against. You need to explain your competitors' positioning and describe their strengths and weaknesses. You should write this part in parallel with the Competitive Edge part of the Strategy section.

The idea here is to analyse your competitor's angle to the market in order to find a weakness that your company will be able to use in its own market positioning. One way to carry the analysis is to benchmark your competitor against each of the key drivers of demand for your market price, quality, add-on services, etc.

Below is an example of a furniture shop in France. As you can see from the table all the actors on the market are currently focused on the low medium range of the market leaving the space free for a high end focused new player.

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Vote count: No votes so far! Be the first to rate this post. Michael Kerr began his professional life as an entrepreneur. He built and managed a number of successful businesses before returning to school to indulge his passion for writing. How to Write a Market Analysis 7 Min. Read Starting By: Michael Kerr.

A market analysis is the process of learning the following: Who are my potential customers? What are their buying and shopping habits? How many of them are there? How much will they pay? Who is my competition? What have their challenges and successes been?

Determine that the need for your product or service is big enough that people will pay for it. Do you even need to do a market analysis? Target market In the industry section of your market analysis, you focused on the general scope. Market size : This is where you want to get real, both with the potential readers of your business plan and with yourself. How much do your potential customers spend annually on the types of products or services you plan to offer?

How big is the potential market for your business? Competitive analysis This is the section in which you get to dissect your competitors, which is important for a couple of reasons. The competitive analysis should contain the following components: Direct competitors: What other companies are offering similar products and services? What companies are your potential customers currently buying from instead of you? A more modern example might be a to-do list application, where the indirect competition would include notebooks and hand-written lists.

Competitor strengths and weaknesses: What is your competition good at? Where do they fall behind? Get imaginative to spot opportunities to excel where others are falling short. Barriers to entry: What are the potential pitfalls of entering your particular market?

This is where you examine your weaknesses. Be honest, with investors and yourself. Being unrealistic is not going to make you look good. The window of opportunity: Does your entry into the market rely on time-sensitive technology? Do you need to get in early to take advantage of an emerging market?

Make sure you are able to explain how you came up with your numbers. Instead, do a bottom-up projection where you explain how your marketing and sales efforts will enable you to get a certain percentage of the market. Your gross margin is the difference between your costs and the sales price. Again, be realistic yet optimistic. Optimistic projections not only serve as a guide—they can also be a motivator. Regulations Are there any specific governmental regulations or restrictions on your market?

How to acquire the data for your market analysis Market analyses vary from industry to industry and company to company. Here are some good places to start your market research: Your current customers: If your business is already up and running, your current customers are an invaluable resource. They are your existing market. For example, if you are selling jewellery you can either be a generalist or decide to focus on the high end or the lower end of the market.

This section is relevant when your market has clear segments with different drivers of demand. In my example of jewels, value for money would be one of the drivers of the lower end market whereas exclusivity and prestige would drive the high end. Now it is time to focus on the more qualitative side of the market analysis by looking at what drives the demand.

This section is very important as it is where you show your potential investor that you have an intimate knowledge of your market. You know why they buy! Here you need to get into the details of the drivers of demand for your product or services. One way to look at what a driver is to look at takeaway coffee. One of the drivers for coffee is consistency.

The coffee one buys in a chain is not necessarily better than the one from the independent coffee shop next door. But if you are not from the area then you don't know what the independent coffee shop's coffee is worth it. Whereas you know that the coffee from the chain will taste just like in every other shop of this chain. Hence most people on the move buy coffee from chains rather than independent coffee shops.

From a tactical point of view, this section is also where you need to place your competitive edge without mentioning it explicitly. In the following sections of your business plan, you are going to talk about your competition and their strengths, weaknesses and market positioning before reaching the Strategy section in which you'll explain your own market positioning.

What you want to do is prepare the reader to embrace your positioning and invest in your company. To do so you need to highlight in this section some of the drivers that your competition has not been focussing on. A quick example for an independent coffee shop surrounded by coffee chains would be to say that on top of consistency, which is relevant for people on the move, another driver for coffee shop demand is the place itself as what coffee shops sell before most is a place for people to meet.

You would then present your competition. And in the Strategy section explain that you will focus on locals looking for a place to meet rather than takeaway coffee and that your differentiating factor will be the authenticity and atmosphere of your local shop.

The aim of this section is to give a fair view of who you are competing against. You need to explain your competitors' positioning and describe their strengths and weaknesses. You should write this part in parallel with the Competitive Edge part of the Strategy section.

The idea here is to analyse your competitor's angle to the market in order to find a weakness that your company will be able to use in its own market positioning. One way to carry the analysis is to benchmark your competitor against each of the key drivers of demand for your market price, quality, add-on services, etc. Below is an example of a furniture shop in France.

As you can see from the table all the actors on the market are currently focused on the low medium range of the market leaving the space free for a high end focused new player. As you would have guess barriers to entry are great. Investors love them and there is one reason for this: it protects your business from new competition!

The answer to the questions above will be highly dependent on your type of business, your management team and any relations it might have. Therefore it is hard for me to give any general tips about it. If regulation is a barrier at entry in your sector then I would advise you to merge this section with the previous one. Otherwise, this section should be just a tick the box exercise where you explain the main regulations applicable to your business and which steps you are going to take to remain compliant.

Now you know how to do a market analysis for a business plan! I hope you found this article useful. If so please share it, and if not let us know what we need to improve. Assess the profitability of your business idea and create a persuasive business plan to pitch to investors.

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Barriers to Entry Web Applications will benefit from several significant barriers to entry which include:. Your business plan can look as polished and professional as this sample plan. It's fast and easy, with LivePlan. Don't bother with copy and paste. Get this complete sample business plan as a free text document. Download for free.

Sample Business Plans Technology Internet. Web Applications, Inc. Market Analysis Summary how to do a market analysis for your business plan. Applications software includes programs that perform specific industry or business functions. Application tools include data access and retrieval, data management, data manipulation, and program design and development software. System-level software comprises operating systems, operating systems enhancements, and data center management.

Described below are the various segments of the Internet: Hardware : networking equipment. This sector provides the primary infrastructure on which the Internet is built. Two prominent types of network equipment are routers and remote access concentrators. Cisco Systems Inc. Ascend Communications, Inc. Two of the main types of Internet software are browsers and security programs.

The security segments are needed to ensure the safety of networks and transactions. Security Dynamics Technology Inc. Internet service providers ISPs offer a way for people to enter the Internet. Destinations are websites that people can go to for information, entertainment, or commerce. Two important initiatives are underway: Build to order BTO. Channel assembly.

Under channel assembly, distributors or resellers build and configure the machines. Companies use the Internet to set up home pages that describe their products and lines of business. This gives them an excellent medium to raise their profile, advertise products, and recruit employees. As of year-end , almost million users accessed the Internet regularly, up from 69 million at the end of , according to IDC.

In the United States, less than one-third of the population is connected, leaving plenty of room for growth. When consumers are asked why they purchased a PC, the most common answer is to connect to the Internet. Half of the total number of large U. Corporations have discovered that the technologies employed by the Internet, particularly the infrastructure and standards of the World Wide Web, are an inexpensive and powerful alternative to other forms of internal corporate communication.

Telecommuting seems to be on a steady growth curve, with approximately 11 million telecommuters in the U. Customer Buying Criteria Customers are expected to use our services based on traditional factors: Price. Pricing is one of our competitive advantages. We offer prices that are lower than those of any of our competitors. The Market Analysis table and chart, below, show potential customers in the Tri-State Area by gender and age groups, as well as potential Internet sales.

Mass manufacturing and rapid creative copying of fashion catwalk designs means that many of us can afford innovative looks at high street prices without the couture price tag. Age is no barrier to following a fashion trend or making a fashion statement, as 10 becomes the new 18 and 50 the new Consumers are craving new and different products, actively seeking new fashion-forward items on each shopping expedition.

In , over 1,, workers were employed to produce an almost infinite variety of dresses, suits, coats, and sportswear. In the past, manufacturers presented two new lines of classic clothing each year, changing fabrics for seasons. Today, many firms produce highly styled clothes for department store boutiques and small specialty shops which cater to the fashion-conscious man.

Although the larger firms are continuing to gain ground compared to smaller firms, and brand-name merchandise already has a large share of the market, the preference for major brands is not longer unanimous. Retailers are now much more open to adding new product lines. The widening age gap between youthful and not-so-youthful wearers represents a multitude of challenges in designing, marketing, and branding for sportswear manufacturers. The growth of the sportswear industry is particularly marked among female consumers, who now see themselves as more athletic and have begin to wear these collections as street clothes.

The junior market segment is also of primary important in this industry, as sportswear is often tied in to fashion. Technical consumers are much more consistent in their buying habits and provide stability during economic slow downs. Technical fabrications, whether relating to textiles or processes e. The strong growth in demand in the junior clothing industry has, so far, been able to minimize the unfortunate effects of the economic slowdown, but heavy competition in the market makes retailers very conscious of fluctuations in demand.

Competition in the junior market segment has shot up in recent years, with a twofold increase in the number of junior clothing chains. Popularity and brand visibility are very important factors in buying decisions made by this market segment; this reduces the maneuverability of small manufacturers who want to position themselves in the market.

It is crucial to follow trends because this segment follows fashion cycles closely. This calls for constant monitoring of the market and a high degree of flexibility and quick adaptation. Price, nonetheless, remains a decisive factor in making purchases, given the speed at which children outgrow their clothes. Manufacturers who are competitive in this regard and have the flexibility to adapt their products to fashion trends can find worthwhile niches.

Interest in apparel remains high even though there are a number of discouraging factors. The apparel market, as a whole, has been suffering from a deflationary trend in prices as manufacturers move to independent contract manufacturing overseas. Another reason for price weakness is the casual trend in clothing — casual is less expensive and generally lasts longer than dressier clothing.

These factors set retailers on something of a promotional spree. The U. In , the market showed some signs of recovery, and at least a little evidence that dressier clothing is selling again. In the challenging U. Marketers are competing to provide these age segments desired products. From to , teen and tween apparel purchases fell 3. This performance stands in contrast to the overall clothing market, which has been noticeably weak in this period.

Leading brand manufacturers are able to retain market share only through alliances with the increasingly dominant clothing retail stores, such as Wal-Mart, Target, Sears, and J. This includes the older, wrinkle-resistant or wrinkle-free technology, along with newer technologies, such as stain resistance, stretch, moisture management, and UV protection.

This lack of research, along with a lack of sizing standards, added to the growing practice of vanity sizing — adding inches to clothing to make it appear that a woman wears a size smaller than she actually does — has created a disparity between the clothes available to the consumer and their actual body shapes and sizes. Female athletes and enthusiasts in a number of sports have complained about a lack of selection. For example, Kate Gengo, a professional inline skater, finds apparel offerings for aggressive inline skating to be very slim.

Cool clothes are available from small manufacturers. Women are the primary sporting goods buyers, responsible for four-fifths of all athletic apparel purchases. As clothing options for the female athlete become more targeted, women looking for athletic clothing and shoes will patronize those shopping environments that understand the apparel requirements specific to their sport.

Mature consumers are increasing their spending on apparel, as baby boomers reach peak earnings levels and their household expenses decrease, with children beginning to support themselves. Women aged 50 to 64 surpassed female teens between 13 and 18 as the largest spenders on casual sportswear in Tops with spaghetti straps and multicolored shimmering or sequined borders are gaining ground with girls.

Boys are gravitating toward athletic silhouettes: brightly colored, printed camp shirts worn over muscle T-shirts, zip-off pants and shorts that extend several inches beyond the knee. Style is important to these young adults, but style comes in many different packages — cellular phones, cars, and vacation destinations are among them. In addition, the teen and tween segments appear to find individuality appealing.

We have found that these ethnic demographics are more than twice as likely to purchase infant, toddler, and preschool clothing. The apparel and fabricated textile products industry is a mature, slow growing industry.

Intense competition characterizes this industry and drives its ever-changing structure and operations. The market is highly fragmented, particularly in the Tri-State Area. The complexity of this market calls for a high level of research and specialization prior to any attempt at market penetration.

The fashion industry in the Tri-State Area mainly looks to New York City, with its multiple opportunities, in particular the famous Garment District, an area of the city between 35th and 42nd Street and 5th and 9th Avenue. This district is the main gathering point for buyers and designers in the United States and is beginning to rival the major international fashion capitals of Paris and Milan. Overall, the U. Apparel sold in the United States is produced both domestically and in foreign locations.

With the U. In addition to the traditional channels, New York has a unique trade structure that enhances business opportunities. In addition to having six to eight market weeks each year during which buyers can place their orders, several showroom representatives offer opportunities for placing orders throughout the year.

This market characteristic creates openings for designers who want to enter the market and want good visibility for their products. In general, traditional distribution channels are followed. Since competition in the apparel industry is extremely intense, the use of a sales representative is strongly recommended to facilitate entry into the market. Direct distribution in this market can require a very extensive investment of time and money with no assurance of positive results.

Competition in this industry currently turns on prices. The first two quarters of were particularly difficult for U. After two years of rising prices, pressure from foreign competition, and shaky economic conditions, leading textile manufacturers are being forced to lower their prices.

In a broad view, the retail apparel industry competes with all other sectors in the retail industry. These different sectors include electronic retailers, wholesalers, other discount stores, shoe stores, convenience stores, and others. Many of these different sectors have combined together, and often, a company may operate in various divisions to increase profitability.

Many experts point to changes in consumer attitudes as a driving force behind the restructuring that is occurring in the retail apparel industry. Not only have consumers become more cautious in their buying habits, but they have been reducing the portion of disposable income that they spend on apparel. Economists and sociologists have attributed increasingly volatile consumer demand to growing numbers of new products, the rise of fashion-consciousness for even the lowest-cost apparel, and more selling seasons.

Although the apparel industry is mature and slow growing, it exists in a dynamic and competitive environment. Many companies are restructuring to create leaner organizations and adopt new technologies, with consolidation prevalent as larger companies gain leverage in market position and cost cutting measures. Through a range of strategic licensing arrangements almost 40 product lines , the company also offers a broad array of related apparel, accessories, footwear, fragrance, and home furnishings.

Beginning with a line of preppy looking, clean-cut, and conservative sportswear — similar to that offered by The Gap, Inc. In the course of only a few years, this basically khaki, crew and button-down WASP style, while remaining a constant theme in Hilfiger collections, has been submitted to variations which are intended to bring the product closer to Hip-Hop style — bolder colors, bigger and baggier styles, more hoods and cords, and more prominent logos and the Hilfiger name.

The Gap, Inc. As of February 1, , the company operated a total of 4, store concepts at 3, locations. Gap stores are generally open seven days per week where permitted by law and most holidays. All sales are tendered for cash, personal checks, debit cards or credit cards, including Gap, Banana Republic, and Old Navy private label credit cards, which are issued by a third party. These characteristics have helped The Gap continually evolve, to learn from its challenges, and to make the changes necessary to create long-term, quality growth.

These clothing lines provide customers with clothes and accessories that enhance personal style — clothes that are simple, sexy, and cool. The power of these brands and the important place they hold in the everyday life of people around the world provide the company with tremendous opportunities to maximize this unique brand affinity.

Results reflect an increase in comparable store sales, improved merchandise margins and lower occupancy expenses. As of February 1, , the company operated stores in the United States. Once a respected retailer, the company has attracted controversy with these objectives.

Net income was partially offset by higher general, administrative and store operating expenses. Jones Apparel Group, Inc.

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