Discussion:
Knowing your Market
Integrated Marketing for Entrepreneurs
Complete the following for this assignment:
Conduct preliminary market research on your venture, and write a paper of 1,500-2,000 words that responds to the following questions:
What is the scale of the industry (in units and dollars)?
What is the scope (geographical range) of the market? Is it local, regional, national, international, or global?
Is it a niche industry, or does it reach a mass market?
How profitable are the players in the industry?
What trends are occurring in the industry?
What competition is in the marketplace, and what are they doing?
Produce a detailed analysis of your markets, and articulate your conventional marketing goals and objectives.
You should use Internet research, statistical abstracts, buying power indexes, public agencies, industry associations, and competitor Web sites to deepen the analysis of your markets and your competition.
Include visual aids where they are appropriate.