Demographic Marketing

The Market Analysis portion of a business plan usually comes before the Competitive Analysis, but after the Industry section in the Business Overview. The intent of the Market Analysis is to provide a very thorough view of the target market of the proposed business, which can be a research-heavy proposition depending on whether or not the business plan in question is being written for a new business or one that has already opened its doors.

Who Is Your Target Market?

To determine who your target market is, you need to ask one very basic question: who will potentially be a buyer of your products and/or services? The answer is never "everybody", because not everyone will be interested in what you have to offer, in your area and within your pricing structure. Therefore, you need to paint a very specific picture of who your target market is - although some businesses have several target markets and not just one.

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