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Sfs12 4 market analysis pdf

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Module 1.1

Module 12.4

Market Analysis

Jim Beach & Chris Hanks

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. Industry Description & Outlook

Description of primary industry

Size of industry

Industry characteristics

Industry trends

Life cycle

Major customer groups

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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

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Number of prospective customers

Annual purchases meeting needs

Geographic area

Anticipated market growth

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Market Penetration

Market share

Number of customers

Geographic coverage

Rationale

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Pricing

Price levels

Gross margin levels

Discount structure (volume, prompt payment, etc.)

Sensitivity / loyalty

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Identification

Directories

Trade associations

Government documents

NAICS / SIC

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Media

Publications

Radio / Television

Direct Mail

Internet

Sources of influence / advice

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Purchasing Cycle

Needs identification

Research for solutions to needs

Solutions evaluation process

Final solution selection responsibility & authority (executives, purchasing agents, engineers, etc.)

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Secondary Target Markets

Key attributes

Needs

Demographics

Significant future trends

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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

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Lead Times

Initial orders

Reorders

Volume purchases

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Competition Identification

Existing

Market share

Potential

Window of opportunity (success breeds competition)

New competitors

Direct

Indirect Slide 12.4-13

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Strengths

Competitive advantages

Ability to satisfy customer needs

Market penetration

Track record and reputation

Staying power (resources)

Key personnel

Importance of target market

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Weaknesses

Competitive disadvantages

Ability to satisfy customer needs

Market penetration

Track record and reputation

Staying power (resources)

Key personnel

Importance of target market

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Competitive Matrix Chart

Product or Service

Production/ Quality

UniqueFeatures

DistributionSystem

Marketing /Advertising

GeographicLocation

Strengths &Weaknesse

MarketShare

Competitor A

Competitor B

Competitor C

Competitor D

Competitor E

Competitor F

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Barriers to entry Cost (investment)

Time

Technology

Key personnel

Customer inertia (brand loyalty, existing relationships, etc.)

Existing patents and trademarks

Creation strategies

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Regulatory Restrictions

Customer requirements

Government requirements

Regulatory requirements

Anticipated changes

Methods for meeting requirements

Timing involved

Cost

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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

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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.

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THANKS!

Next: Lesson 12-5 The Company Overview

Buy or Review!

Slide 12.4-21

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