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Business Plan

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

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  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.

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