Joseph banks secondary college business plan
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How to do a market analysis for a business plan
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The market analysis is basically the target market section of your business plan. It is a thorough examination of the ideal people to whom you intend to sell your products or services. Even if you intend on selling a product or service only in your community, you won't be selling that service to everyone who lives there. Knowing exactly what type s of people might be interested in buying your product or service and how many of them reside in your projected area or region is fundamental in creating your market analysis. Once target market data has been established, you'll also work on sales projections within specific time frames, as well as how prospective sales might be affected by trends and policies. Research is key and cornerstone of any solid business plan. Don't skip market research; otherwise, you could end up starting a business that doesn't have a paying market.
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College of Business and Economics
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