Market Opportunity

1. Market Opportunity Module 3 Business Plan Course Ryan Murray MBA, CBA

2. 3 Keys to Success • Management Team • Do I have the right people in place doing the right things • Market Opportunity • Is there a demand for my Product/Service in my market area • Marketing Strategy • Is my business positioned to seize the market opportunity • (do a have a legitimate competitive advantage and is the market aware of it)

3. 5 Points to Market • Product/Service • Relative Price Point • Target Market • Market Mediums • Marketing Strategy These Become Your Market Opportunity Your Marketing Strategy is unique to your business, but the Market Opportunity is the same for everyone

4. 5 Points to Market • Product/Service • Relative Price Point • Target Market • Market Mediums • Marketing Strategy

5. Relative Price Point $ $$ Relative in terms of your competition

6. Target Market • Geographical Area • Let’s me know how many people • Best Customer Theory • (Chet Holmes, Ultimate Sales Machine) • Price is a key factor • (Why medium income?) • Don’t think Government

7. Market Mediums • Internet • Google Ad Words • Facebook • Youtube • Newspaper • Yellow Pages • Word of Mouth • Billboards • Direct Mail • Etc, etc

8. Let’s Practice Bad Example vs. Good Example • Product/Service • Relative Price Point • Target Market • Market Mediums • Marketing Strategy

9. Homework • Identify where you are priced, and what market that puts you in (list the competition based on that specific price point) • Identify your target market and their preferred market mediums • Provide at least 3 supporting documents to justify your product, price point, and target market