One of the most important elements in a business plan is the market analysis. A market analysis is a qualitative and quantitative assessment of a market. It includes data collection and estimation in reference to the market size and value, characteristics of the intended customer base, in-depth evaluation of the competition, barriers to entry, and the regulatory environment. An accurate and detailed market analysis allows entrepreneurs to determine whether the market is sufficiently large to build a sustainable, profitable business. In this assignment, you will complete a market analysis for your proposed organization and create a report that can be included within a business plan.
Write a 525-word report that includes the following sections:
- Section 1: Business overview, mission, and vision
- Section 2: A Market analysis that includes the following components:
- Market overview/needs analysis
- Target market
- Competitive analysis
- Value proposition
- Section 3: Recommendation
Use the Market Analysis Research document for details on what to include in each section.
Cite references to support your assignment.