Target INC. Market Analysis
Industry Description Create a general industry description. If your business operates in multiple industries then choose the one you’d like to focus on.
- Is the industry shrinking or growing and how much money is spent in that industry annually?
- What stage is your company’s product at in the product life cycle? Explain your answer.
- What are three possible target markets for your business in this industry and what reasons did you have for choosing each?
- What are the basics characteristics of your target market?
- What features and benefits is this target market looking for from your business? Explain your answers.
- Is this target market a niche or more of a main topic for companies in your industry? Explain your answers.
- What are two strengths and weakness of your competitor?
- Who is the target market that they pursue and what do you see to support this opinion?
- How is your strategy and target market the same or different than theirs? Defend your choices.