Page 8 of 29 The Marketing Plan: Economics Facts about your industry • size of your market • Percentage of the market you have. (This is important only if you are a • major factor in the market.) Current demand in target market • Growth history • Trends in target market growth trends, trends in consumer preferences, and • — trends in product development Growth potential and opportunity for a business of your size • What barriers to keep potential new competitors from flooding into your • market? High capital costs High production costs High marketing costs Consumer acceptance/brand recognition Training/skills Unique technology/patents Unions Shipping Tariff barriers/quotas How could the following affect your company? • Change in technology Government regulations
Page 8 of 29 The Marketing Plan: Economics • Facts about your industry • size of your market • Percentage of the market you have. (This is important only if you are a major factor in the market.) • Current demand in target market • Growth history • Trends in target market — growth trends, trends in consumer preferences, and trends in product development • Growth potential and opportunity for a business of your size • What barriers to keep potential new competitors from flooding into your market? High capital costs High production costs High marketing costs Consumer acceptance/brand recognition Training/skills Unique technology/patents Unions Shipping Tariff barriers/quotas • How could the following affect your company? Change in technology Government regulations
Business-Plan-for-Established-Business-12-30-16.docx