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Section II – Market Analysis

Section II – Market Analysis

  • Profile photo of Brock Garcia
  • Profile photo of Laura Guillaume
  • Profile photo of George Smith
  • Profile photo of Kayla Smith
  • Profile photo of Steve Guillaume

A MARKET ANALYSIS is a collection of market information that demonstrates your knowledge of the industry and the market you wish to serve. The industry information is primarily about outside variables that affect your business. The market information is the local and internal company information that influences your business. Competitive information will give you insight into what the market will bear and what it is accustomed to seeing. A comprehensive market analysis should include the following sections:

  • Industry Analysis – A description of the industry, influencers in the industry, and trends impacting the industry
  • Industry Statistics – The size of your target market (customers) in your area, as well as products and services these customers buy
  • Competitive Analysis – A full exploration of your competitors and potential allies
  • SWOT Analysis – An breakdown of your strengths, weaknesses, threats, and opportunities

The last section of your market analysis is the most significant and educational. Through the SWOT Analysis, you will explore all of your strengths, weaknesses, opportunities, and threats. Business strengths and weaknesses are influenced by internal circumstances while opportunities and threats are driven by external factors. A SWOT analysis requires you to honestly record everything you can envision that could affect your business. After you have fully vetted your strengths and weaknesses, move on to opportunities and threats. The goals are to convert your weaknesses into strengths and either eliminate your threats or make them into opportunities. Recognizing threats is important, as you will be better prepared to face them if they do occur. Be honest. Check your pride at the door and walk into this exercise ready to eat some humble pie. You have nothing to gain by creating illusions of grandeur that cannot be achieved in reality.

Course Curriculum

Chapter 4 - Industry Analysis
Chapter 4 – Guide 00:00:00
Chapter 4 – Exercise 00:00:00
Chapter 4 – Quiz Unlimited
Chapter 5 - Competitive Analysis
Chapter 5 – Guide 00:00:00
Chapter 5 – Exercise 00:00:00
Chapter 5 – Quiz Unlimited
Chapter 5 – Competitive Analysis Spreadsheet 00:00:00
Chapter 6 - SWOT Analysis
Chapter 6 – Guide 00:00:00
Chapter 6 – Exercise 00:00:00
Chapter 6 – Quiz Unlimited
Chapter 6 – SWOT Analysis Spreadsheet 00:00:00

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