Marketing Plan - Economics

Economics

Facts about your industry:

• What is the total size of the market for your goods and services?
  
   
• What percent share of the market will you have? (This is significant if you think you will be a major factor in the market.)
  
   
• What is the current demand in your target market?
  
   
• What are the current trends in the target market—growth trends, trends in consumer preferences, and trends in product development?
  
   
• What is the potential for growth and opportunity for a business of your size?
  
   
• What possible barriers will you face in entering this market with your new company? Some typical barriers are:
  
  • High capital investment
  • High production costs
  • High marketing costs
  • Union costs
  • Shipping costs
  • Consumer acceptance and brand recognition
  • Training costs
  • Unique technology and patent application
  • Tariff barriers and quotas
    
     
• And of course, how will you overcome the barriers?
  
   
• How could the following changes affect your company?
  
  • Economy
  • Technology
  • Government regulations
  • Industry

Back to more Business Plan for a Startup Business

 

	Web Money Instructor

To teach and learn money skills, personal finance, money management, business, careers, and life skills please go to the Money Instructor home page.