Market Analysis
Doing a market analysis might sound overly daunting and formal, but don’t be dissuaded. It’s actually really important, and it’s not all that complex with our help.
Our market analysis service includes an overview of your industry, a look at your target market, an analysis of your competition, your own projections for your business, and any regulations you’ll need to comply with.
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Industry description and outlook
Relevant industry metrics like size, trends, life cycle, and projected growth should all be included here. This will let banks or investors see that you know what you’re doing and have done your homework and come prepared with the data to back up your business idea.
Target market
It’s important to establish a clear understanding of your target market early on. A lot of new entrepreneurs make the rookie mistake of thinking that everyone is their potential market. To put it simply, they’re not. By narrowing in, you’ll be able to direct your marketing dollars efficiently while attracting loyal customers who will spread the word about your business.
Competitive analysis
This is the section in which we dissect your competitors. It’s a good idea to know what you’re up against, but it also lets you spot the competition’s weaknesses. Are there customers that are underserved? What can you offer those similar businesses aren’t offering?
Projections
We'll help you determine your baseline projections based on your market share as well as layout your pricing strategies and discounts. Our goal is to provide practical and optimistic projections to not only serve as a guide, but also a motivator.
Conducting a market analysis will help you uncover any blind spots. It should help you do some initial tests that will verify that your solution is actually addressing a real problem—and many startups don’t last simply because founders failed to figure out if anyone was interested enough in their solution to pay for it.