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Sfs12 4 market analysis pdf

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  • 1. Module 12.4Market AnalysisJim Beach & Chris Hanks
  • 2. © School For Startups. All Rights Reserved. Industry Description & Outlook • Description of primary industry • Size of industry • Industry characteristics • Industry trends • Life cycle • Major customer groups Slide 12.4-2
  • 3. © School For Startups. All Rights Reserved. Target Market Characteristics • Critical needs • Benefits (emotional vs. financial) • Extent to which needs being met • Demographics • Geographic location • Decision makers / influencers • Seasonality / trends / anticipated changes Slide 12.4-3
  • 4. © School For Startups. All Rights Reserved. Size • Number of prospective customers • Annual purchases meeting needs • Geographic area • Anticipated market growth Slide 12.4-4
  • 5. © School For Startups. All Rights Reserved. Market Penetration • Market share • Number of customers • Geographic coverage • Rationale Slide 12.4-5
  • 6. © School For Startups. All Rights Reserved. Pricing • Price levels • Gross margin levels • Discount structure (volume, prompt payment, etc.) • Sensitivity / loyalty Slide 12.4-6
  • 7. © School For Startups. All Rights Reserved. Identification • Directories • Trade associations • Government documents • NAICS / SIC Slide 12.4-7
  • 8. © School For Startups. All Rights Reserved. Media • Publications • Radio / Television • Direct Mail • Internet • Sources of influence / advice Slide 12.4-8
  • 9. © School For Startups. All Rights Reserved. Purchasing Cycle • Needs identification • Research for solutions to needs • Solutions evaluation process • Final solution selection responsibility & authority (executives, purchasing agents, engineers, etc.) Slide 12.4-9
  • 10. © School For Startups. All Rights Reserved. Secondary Target Markets • Key attributes • Needs • Demographics • Significant future trends Slide 12.4-10
  • 11. © School For Startups. All Rights Reserved. Market Test Results • Potential customers contacted • Information / demonstrations given to potential customers • Reaction of potential customers • Importance of satisfaction of targeted needs • Test groups’ willingness to purchase at various price levels Slide 12.4-11
  • 12. © School For Startups. All Rights Reserved. Lead Times • Initial orders • Reorders • Volume purchases Slide 12.4-12
  • 13. © School For Startups. All Rights Reserved. Competition Identification • Existing • Market share • Potential • Window of opportunity (success breeds competition) • New competitors • Direct • Indirect Slide 12.4-13
  • 14. © School For Startups. All Rights Reserved. Strengths • Competitive advantages • Ability to satisfy customer needs • Market penetration • Track record and reputation • Staying power (resources) • Key personnel • Importance of target market Slide 12.4-14
  • 15. © School For Startups. All Rights Reserved. Weaknesses • Competitive disadvantages • Ability to satisfy customer needs • Market penetration • Track record and reputation • Staying power (resources) • Key personnel • Importance of target market Slide 12.4-15
  • 16. © School For Startups. All Rights Reserved. Competitive Matrix Chart Product or Production Unique Distribution Marketing / Geographic Strengths & Market Service / Quality Features System Advertising Location Weaknesse Share Competitor A Competitor B Competitor C Competitor D Competitor E Competitor F Slide 12.4-16
  • 17. © School For Startups. All Rights Reserved. Barriers to entry • Cost (investment) • Time • Technology • Key personnel • Customer inertia (brand loyalty, existing relationships, etc.) • Existing patents and trademarks • Creation strategies Slide 12.4-17
  • 18. © School For Startups. All Rights Reserved. Regulatory Restrictions • Customer requirements • Government requirements • Regulatory requirements • Anticipated changes • Methods for meeting requirements • Timing involved • Cost Slide 12.4-18
  • 19. © School For Startups. All Rights Reserved. Seven Sentence Exercise 1) Purpose of the marketing strategy 2) How will you achieve this purpose, focusing on your benefits 3) Target market (or markets) 4) Marketing weapons you will employ 5) Niche 6) Identity 7) Budget (usually % gross revenues) Slide 12.4-19
  • 20. © School For Startups. All Rights Reserved. The purpose of Prosper Press is to sell the maximum number of books at the lowest possible selling cost per book. This will be accomplished by positioning the books as being so valuable to free- lancers that they are guaranteed to be worth more to the reader than their selling price. The target market will be people who can or do engage in free-lance earning activities. Marketing tools to be utilized will be a combination of classified advertising in magazines and newspapers, direct mail, sales at seminars, publicity in newspapers and on radio and television, direct sales calls to bookstores, and mail-order display ads in magazines. The niche to be occupied is one that stands valuable information that helps free- lancers succeed, the ultimate authority for free-lancers. Our identity will be one of expertise, readability, and quick response to customer requests. Thirty percent of sales will be allocated to marketing. Slide 12.4-20
  • 21. © School For Startups. All Rights Reserved. THANKS! Buy or Review!Next: Lesson 12-5 The Company Overview Slide 12.4-21