Description
A local business leader is considering starting a business in your area
and has hired you to conduct a market analysis and deliver a formal
report of your findings. Consider a market segment with which you are
familiar. Write a brief report to be delivered to your sponsor in which
you describe the status of competition within this market and recommend a
course of action for the start-up.
Develop a response that includes examples and evidence to support your
ideas, and which clearly communicates the required message to your
audience. Organize your response in a clear and logical manner as
appropriate for the genre of writing. Use well-structured sentences,
audience-appropriate language, and correct conventions of standard
American English.
Explanation & Answer
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Running Head: MARKET ANALYSIS REPORT
Market Analysis Report
Name
Course
Institution
Instructor
Date
MARKET ANALYSIS REPORT
2
Market Analysis
I have managed to develop a database that keeps records of customers who buy pork
regularly, occasionally, and those who buy when the opportunity presents itself. I have collected
the data from the most frequented meat shops in the area. My research from the city data website
shows that majority of the customers are nuclear families in the income range of over $60 000,
with a majority of them being two income families, located in the urban area and hold
professional occupations. Further research revealed that the consumers are familiar with ecommerce which better suits the business.
I found out that the market segment intended for the product is big enough to justify
investing in supplying the area with pork products. I also conducted markets surveys in several
other locations surrounding the local town and developed a demographic profile that can be used
in the case of expansion. The customer trusts the local meat traders, given that they have a good
reputation and have been in operation for a long time. From my estimates your business can
expect consumers ranging between thirty to thirty-five thousand potential customers.
Market Size and Trends
2013
39.7 million pounds of pork produced
2014
40 million pounds of pork produced
2015
39.8 million pounds of pork produced
Source: James Willock, City Pork Producers Council.
Further research shows that the average prices that pork producers get have been
increasing in the last five years. A report compiled by Todd Reubold in the Ensia websites
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