A market analysis uses the results from your marketing research to provide a detailed description of your customer and market. By focusing on your customer, you can determine specific strategies to identify customers and satisfy their needs. In this activity, you’ll develop a market analysis that communicates what you’re selling, who will buy it, the marketing mix, and how you’ll generate sales and increase market share.
Step 1: Create a Market Analysis Presentation
Create a new slide presentation with the title Market Analysis.
Create slides with these titles: Market Overview, Customers, and Competitors.
Step 2: Develop the Presentation Content
On the Market Overview slide, write three or four sentences that describe the key aspects of the market. What is its overall size? Is the market growing? Is the market concentrated in one geographic region? Describe the nature of the business. List the needs that the business meets in the market and how they will meet their needs.
On the Customers slide, write four or five sentences that describe the demographics, attitudes, and buying behavior of your customers. How old are they? Where do they live? How do they like to buy? How much are they willing to spend?
On the Competitors slide, describe your major competitors and how they are positioned relative to the benefits and value proposition of your product.
Refer to the Positioning Map you created in an earlier unit and the SWOT analysis you created in Activity 1 for this information.
And it for a doggy daycare.
Market Analysis
Market Overview:
- The pet care industry is a growing market, with an estimated worth of $75 billion in the United States alone. It is a relatively concentrated market, with a few large players dominating the market.
- Our doggy daycare business meets the needs of pet owners who work long hours or are going on vacation and need a safe and fun place for their dogs to stay.
- We offer a range of services including daycare, boarding, grooming, and training to meet the diverse needs of our customers.
Customers:
- Our customers are primarily middle to upper-class pet owners who are busy professionals or frequent travelers.
- They are typically between the ages of 25-55, living in urban or suburban areas with disposable income to spend on their pets.
- They prefer to buy services that provide convenience, quality care, and a safe environment for their furry friends.
- Our customers are willing to spend on average $30-$50 per day for dog daycare services.
Competitors:
- Our major competitors in the doggy daycare market include established chains such as Dogtopia and Camp Bow Wow, as well as local independent doggy daycares.
- Our business differentiates itself by offering personalized care, a smaller, more intimate setting, and a focus on individualized services tailored to the needs of each dog.
- Our positioning map shows that we are positioned as a high-quality, personalized alternative to larger chain daycares, offering a premium service at a competitive price.
- Our SWOT analysis highlights our strengths in customer service and personalized care, as well as opportunities for growth in expanding our services and reaching new customer segments.