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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 .

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Business plan

Business Plan

ANALYSIS OF THE BUSINESS SITUATION


Analysis of potential location s
Analysis of potential location(s)

  • Availability, cost (rent or buy), traffic patterns, proximity to competition, etc.


Trading area analysis
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
Market segment analysis

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



Information search
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
Evaluation Stage

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


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