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The marketing analysis section of a business plan is distinctly different than the marketing section. The market analysis section focuses on describing a firm’s target market, its customers, its competitors, how it will compete in the marketplace, and its potential sales and market share. In contrast, the marketing section focuses on the classic marketing functions, including product, price, promotion, and distribution.
The market analysis is an extremely important section of a business plan for two reasons. First, it helps define the nature of the business and the remainder of the plan. Second, it affirms that a company has a well-thought-out target market, understands its customers, and can generate sales in the face of competition.
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