1. BUSINESS PLAN ANALYSIS OF THE BUSINESS SITUATION

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

3. 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

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

5. Buying a hamburger

6. 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

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