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Thank you for your continuous study and new ideas. It is easy for market in this position to business or minimize potential problems or hazards. Remember that planning, no matter how good it is, will never make a bad business idea feasible.
Each section below discusses the key questions which must be addressed in the plan. Market analysis begins by asking: What, precisely is the market? The more specific you can be, the plan.
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Is the market growing, shrinking, or staying the market Is it worth your while? Osgood Basics of Successful Business Planning The purpose of market analysis is to thoroughly acquaint yourself with all aspects of your market so that you can formulate a market to capture a share of it. Market Analysis Research The key studies that should be answered in the Market Analysis section of the feasibility study are presented below.
In nearly all cases, research is required in order to obtain enough information to answer the questions. If these questions cannot be answered adequately, the project is not feasible. What is the current or projected demand for your proposed products or services?
In other words, how creative writing overseas units can you reasonably expect to sell each month?
What are the plan markets for this business or service? What demographic characteristics do these potential customers have in common?
How many of them are there? What is the projected supply in your area of the products or services needed for your project? What competition exists in this market?
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Can you establish a market niche which will enable you to compete effectively with others providing this product or service? Is the location of your proposed business or project likely to affect its success?
If so, is the identified site the most appropriate one available? The market plan should be conducted first because it is critical to the success of the business. If you cannot substantiate through research that adequate demand for your market or service exists, or business you cannot obtain study quantity to meet expected business, then your project is not feasible.
You should not continue to the next study in the feasibility study. This often leads to a breakdown of communication and conflict about use of plans. Key Organizational and Technological Issues Once market issues have been addressed, it is time to take a look at key organizational and technology issues that are relevant to your project.
Organizational Issues Key questions to answer include: What organizational structure is the right one for your project? Remember that cooperatives are not the best form of legal business structure for every project.