Market Analysis. Describe the current state of the market. What are the strengths and weaknesses right now? 2 paragraphs.
Market Segmentation and Target Market Selection. What are the different segments in the market? Are you going to focus on any particular segments. (Please know what a segment is, do some research, or watch for instructional videos).
Clearly lay out the segments you are going to focus on. Within each segment, set a target market. You must have at least 2 segments and one clearly defined target market. Research to make sure you understand what these are. Each segment should get a paragraph description. Segment #1 – 18-22 yr old Males.
Buyer Behavior How do your customers generally move through the Consumer Behavior Decision Process? The following link can be cut and paste into your browser to understand more about this:
https://directiveconsulting.com/blog/5-stages-of-the-consumer-decision-making-process-and-how-its-different/
In this section of the plan, walk the reader through each stage. How does the buyer problem know they have da r need? What is the problem or need?
How does your future buyer search for information on this subject? How will you position your product/service in a way so that buyers SEE you in the information search?
How does your buyer tend to evaluate alternatives? For example, in the resort business, a buyer might have three or four resorts they are deciding by. What are they typically evaluating when they search? How can your business be among the top three as they are evaluated?
Finally, buyers will purchase your product. Why do they choose YOU (revisit your core distinctives and your mission statement). HOW do they complete the transaction logistically? How can you make the buying process enjoyable and effective?
After purchase, buyers will think about their purchase. How can you make sure they are satisfied after the sale? What process will you use to ensure they had a good experience? How will you resolve problems after the sale?
Each of these items will need one paragraph to discuss and overview.
Sample Solution
