Week 4 market analysis and research wrap up

LIFESTYLE BUSINESS ACCELERATOR 90 Day Program | Week 4 Market & Research Wrap Up

MARKET ANALYSIS OVERVIEW ADDRESSABLE MARKET DEFINITION & SIZE TARGET MARKET DEFINITION & SIZE

WHY IS THIS THE TARGET MARKET? (Largest opportunity, lowest hanging fruit, domain expertise, etc)

TOOLS: US CENSUSE, SBA, BLS, REAL ESTATE AGENTS, BUSINESS DECISIONS

B2B INTRODUCTION TO MARKET ANALYSIS

Business-to-

business (B2B) refers to a situation where one business makes a commercial transaction with another. This typically occurs when: A business is sourcing materials for their production process (e.g. a food manufacturer purchasing salt).

B2C

Business-to-

consumer (B2C) is an Internet and electronic commerce (e-commerce) model that denotes a financial transaction or online sale between a business and consumer.

B2C involves a service or product exchange from a business to a consumer, whereby merchants sell products to consumers.

TOTAL ADDRESSABLE MARKET (TAM)

MARKET DEFINITIONS TAM SAM

TM

Also called total available market, is a term that is typically used to reference the revenue opportunity available for a product or service. TAM helps to prioritize business opportunities by serving as a quick metric of the underlying potential of a given opportunity.

SERVICEABLE AVAILABLE MARKET (SAM) Serviceable addressable market (SAM) (or served available market) is the part of the total addressable market (TAM) that can actually be reached.

TARGET MARKET Target Market a particular group of consumers at which a product or service is aimed.

TARGET MARKET

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MARKET SEGMENTATION

Market segmentation is a marketing strategy which involves dividing a broad target market into subsets of consumers, businesses, or countries that have, or are perceived to have, common needs, interests, and priorities, and then designing and implementing strategies to target them.

NEEDS, INTEREST, PRIORITIES

B2C TYPES OF SEGMENTATION Geographic segmentation

Psychographic segmentation

Demographic segmentation

Occasional segmentation

Behavioral segmentation

Segmentation by benefits

Cultural segmentation

B2B TYPES OF SEGMENTATION Company Size (Revenue & Employees)

Geographic Location

Niches and Markets

Restaurants

Franchised Chains

Pizza Stores

Independent Stores

Food Service Firm Commercial Pizza Sauce Market

Frozen Pizza Manufacturers Packaged Ingred.

Super Markets Existing Private Labels

Source: www.marketingstudyguide.com

No Private Labels

MARKET RESEARCH CONT.

MARKET SIZE & POTENTIAL

MARKET TRENDS & GROWTH

TOOLS FOR MARKET RESEARCH

Real Estate Agents for physical location data

Trade Associations

HOMEWORK

1

2

3

Write Product & Service Description

Write Industry, Market, & Competitive Analysis Sections

Complete Act of Service for someone in class

These 4 sections are due 6/14/16 before class to accountability partner.