ASSIGNMENT
For this module’s assignment, you will conduct a market analysis that will support the need for your business idea and complete the third section of your business plan. The readings in this module will help you as you are going through this section of your business plan.
The market analysis provides the reader with an understanding of how well you know your market. In defining the target market, you will identify key elements such as geographic location, demographics, buyer characteristics, your target market’s needs and how you will meet these needs. This section will also explore any competitors and your plan to deal with them.
This section will include a SWOT (Strengths, Weaknesses, Opportunities, and Threats) Analysis to better assess your business’ position against the competition. Assess your business in the current environment in terms of strengths and weaknesses (internal) and opportunities and threats (external).
After completing your analysis, provide your thoughts on how your strengths can help you to maximize opportunities and minimize threats; how your weaknesses can slow your ability to capitalize on the opportunities; and how could your weaknesses expose you to threats? Make sure to indicate the SWOT table and a narrative.
Use the Business Plan Template to complete your assignment. This section should be a max of 750 words in length.
