ENTREPRENEURSHIP

Detailed explanation-1: -The market analysis section of your business plan comes after the products or services section and should provide a detailed overview of the industry you intend to sell your product or service in, including statistics to support your claims.

Detailed explanation-2: -The market analysis section of your plan provides evidence that there is a niche in the market that your company can exploit. This analysis also provides the foundation on which your marketing and sales plan will rest.

Detailed explanation-3: -Your marketing plan should describe how you will segment your target market, how you will position your products or services compared to your competition, what your pricing strategy will be, and how you will effectively reach and influence your customers.

Detailed explanation-4: -Define your target customer. Estimate the number of target customers. Determine your penetration rate. Calculate the potential market size: Volume and value. Apply the market-size data.