BUSINESS PLAN ANALYSIS OF THE BUSINESS SITUATION.

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Presentation transcript:

BUSINESS PLAN ANALYSIS OF THE BUSINESS SITUATION

Analysis of potential location(s) Availability, cost (rent or buy), traffic patterns, proximity to competition, etc.

Trading area analysis The trade area analysis shows where your customers live in relation to your existing or potential business site(s). General data: geographic, demographic, and economic Competitive data: present competitors (listed and briefly described), competitive advantages and disadvantages of the proposed business

Market segment analysis Target market (age, income level, population estimate, other specific demographic and economic information), customer buying behavior related to proposed business

Buying a hamburger

Information Search Personal sources: family, friends, neighbors etc Commercial sources: advertising; salespeople; retailers; dealers; packaging; point-of-sale displays Public sources: newspapers, radio, television, consumer organizations; specialist magazines Experiential sources: handling, examining, using the product

Evaluation Stage In the evaluation stage, the customer must choose between the alternative brands, products and services.