Amit Kumar Official

Marketing Analysis : MBA

How to do a market analysis for a business plan
market-analysis-for-a-business-plan
A key part of any business plan is market analysis. This section needs to demonstrate both your expertise in your particular market and the attractiveness of the market from a financial standpoint.

This article first looks at what we mean exactly by market analysis before looking at how to make a good one for your business plan.

What is a market analysis?
A market analysis is a quantitative and qualitative assessment of a market. It looks into the size of the market both in volume and in value, the various customer segments and buying patterns, the competition, and the economic environment in terms of barriers to entry and regulation.

How to do a market analysis?
The objectives of the market analysis section of a business plan are to show to investors that:

you know your market
the market is large enough to build a sustainable business
In order to do that I recommend the following plan:

Demographics and Segmentation
Target Market
Market Need
Competition
Barriers to Entry
Regulation
The first step of the analysis consists in assessing the size of the market.

Demographics and Segmentation
When assessing the size of the market, your approach will depend on the type of business you are selling to investors. If your business plan is for a small shop or a restaurant then you need to take a local approach and try to assess the market around your shop. If you are writing a business plan for a restaurant chain then you need to assess the market a national level.

Depending on your market you might also want to slice it into different segments. This is especially relevant if you or your competitors focus only on certain segments.

Volume & Value
There are two factors you need to look at when assessing the size of a market: the number of potential customers and the value of the market. It is very important to look at both numbers separately, let's take an example to understand why.

Imagine that you have the opportunity to open a shop either in Town A or in Town B:

Town A B
Market value £200m £100m
Potential customers 2 big companies 1,000 small companies
Competition 2 competitors 10 competitors
Table: Town A vs. Town B
Although Town B looks more competitive (10 competitors vs. 2 in Town A) and a smaller opportunity (market size of £100m vs. £200 in Town A), with 1,000 potential customers it is actually a more accessible market than Town A where you have only 2 potential customers.

Potential customer?
The definition of a potential customer will depend on your type of business. For example, if you are opening a small shop selling office furniture then your market will be all the companies within your delivery range. As in the example above it is likely that most companies would have only one person in charge of purchasing furniture hence you wouldn't take the size of these businesses in consideration when assessing the number of potential customers. You would however factor it when assessing the value of the market.

Market value
Estimating the market value is often more difficult than assessing the number of potential customers. The first thing to do is to see if the figure is publicly available as either published by a consultancy firm or by a state body. It is very likely that you will find at least a number on a national level.

If not then you can either buy some market research or try to estimate it yourself.

Methods for building an estimate
There are 2 methods that can be used to build estimates: the bottom-up approach or the top-down approach.

The bottom-up approach consists in building a global number starting with unitary values. In our case the number of potential clients multiplied by an average transaction value.

Let's keep our office furniture example and try to estimate the value of the 'desk' segment. We would first factor in the size of the businesses in our delivery range in order to come up with the size of the desks park. Then we would try to estimate the renewal rate of the park to get the volume of annual transactions. Finally, we would apply an average price to the annual volume of transactions to get to the estimated market value.

Here is a summary of the steps including where to find the information:

Size of desks park = number of businesses in delivery area x number of employees (you might want to refine this number based on the sector as not all employees have desks)
Renewal rate = 1 / useful life of a desk
The volume of transactions = size of desks park x renewal rate
Value of 1 transaction = average price of a desk
Market value = volume of transactions x value of 1 transaction
You should be able to find most of the information for free in this example. You can get the number and size of businesses in your delivery area from the national statistics. Your accountant should be able to give you the useful life of a desk (but you should know it since it is your market!). You can compare the desk prices of other furniture stores in your area. As a side note here: it is always a good idea to ask your competitors for market data (just don't say you are going to compete with them).

That was the bottom-up approach, now let's look into the top-down approach.

The top-down approach consists of starting with a global number and reducing it pro-rata. In our case, we would start with the value of the UK office furniture market which AMA Research estimates to be around £650m and then do a pro-rata on this number using the number of businesses in our delivery area x their number of employees / total number of people employed in the UK. Once again the number of employees would only be a rough proxy given all business don't have the same furniture requirements.

When coming up with an estimate yourself it is always a good practice to test both the bottom up and top-down approaches and to compare the results. If the numbers are too far away then you probably missed something or used the wrong proxy.

Once you have estimated the market size you need to explain to your reader which segment(s) of the market you view as your target market.

Target Market
The target market is the type of customers you target within the market. For example, if you are selling jewellery you can either be a generalist or decide to focus on the high end or the lower end of the market. This section is relevant when your market has clear segments with different drivers of demand. In my example of jewels, value for money would be one of the drivers of the lower end market whereas exclusivity and prestige would drive the high end.

Now it is time to focus on the more qualitative side of the market analysis by looking at what drives the demand.

Market Need
This section is very important as it is where you show your potential investor that you have an intimate knowledge of your market. You know why they buy!

Here you need to get into the details of the drivers of demand for your product or services. One way to look at what a driver is to look at takeaway coffee. One of the drivers for coffee is consistency. The coffee one buys in a chain is not necessarily better than the one from the independent coffee shop next door. But if you are not from the area then you don't know what the independent coffee shop's coffee is worth it. Whereas you know that the coffee from the chain will taste just like in every other shop of this chain. Hence most people on the move buy coffee from chains rather than independent coffee shops.

From a tactical point of view, this section is also where you need to place your competitive edge without mentioning it explicitly. In the following sections of your business plan, you are going to talk about your competition and their strengths, weaknesses and market positioning before reaching the Strategy section in which you'll explain your own market positioning. What you want to do is prepare the reader to embrace your positioning and invest in your company.

To do so you need to highlight in this section some of the drivers that your competition has not been focussing on. A quick example for an independent coffee shop surrounded by coffee chains would be to say that on top of consistency, which is relevant for people on the move, another driver for coffee shop demand is the place itself as what coffee shops sell before most is a place for people to meet. You would then present your competition. And in the Strategy section explain that you will focus on locals looking for a place to meet rather than takeaway coffee and that your differentiating factor will be the authenticity and atmosphere of your local shop.

Competition
The aim of this section is to give a fair view of who you are competing against. You need to explain your competitors' positioning and describe their strengths and weaknesses. You should write this part in parallel with the Competitive Edge part of the Strategy section.

The idea here is to analyse your competitor's angle to the market in order to find a weakness that your company will be able to use in its own market positioning.

One way to carry the analysis is to benchmark your competitor against each of the key drivers of demand for your market (price, quality, add-on services, etc.) and present the results in a table.

Below is an example of a furniture shop in France. As you can see from the table all the actors on the market are currently focused on the low medium range of the market leaving the space free for a high end focused new player.

Company Competitor 1
(Small shop) Competitor 2
(Small shop) Competitor 3
(Chain) My Company
Revenues € 750,000 N.A. € 1,500,000 € 400,000
(year 1 target)
Nb. employees 10 5 20 5
Size 1 shop in Caen,
1 shop in Cabourg 1 shop in Caen 3 shops in Caen 1 shop in Caen
Price Low Average Average High
Quality Low Average Average Superior
Choice Large Low Very large Average
Delivery No € 50 Free from € 100 Free
Table: side by side competitive analysis
Barriers to Entry
This section is all about answering two questions from your investors:

what prevents someone from opening a shop in front of yours and take 50% of your business?
having answered the previous question what makes you think you will be successful in trying to enter this market? (start-up only)
As you would have guess barriers to entry are great. Investors love them and there is one reason for this: it protects your business from new competition!

Here are a few examples of barriers to entry:

Investment (a project that requires a substantial investment)
Technology (sophisticated technology a website is not one, knowing how to process uranium is)
Brand (the huge marketing costs required to get to a certain level of recognition)
Regulation (licences and concessions in particular)
Access to resources (exclusivity with suppliers, proprietary resources)
Access to distribution channels (exclusivity with distributors, proprietary network)
Location (a shop on Regent's Street)
The answer to the questions above will be highly dependent on your type of business, your management team and any relations it might have. Therefore it is hard for me to give any general tips about it.

Regulation
If regulation is a barrier at entry in your sector then I would advise you to merge this section with the previous one. Otherwise, this section should be just a tick the box exercise where you explain the main regulations applicable to your business and which steps you are going to take to remain compliant.

General computer information (कम्प्यूटर का सामान्य जानकारी)

कम्प्युटर का उपयोग – कम्प्युटर का उपयोग कहाँ-कहाँ एवं किस लिए किया जाता है। इसकी सामान्य जानकारी।
कम्प्युटर के प्रमुख भाग- सी.पी.यू. इनपुट डिवाईस, आउटपुट डिवाईस की सामान्य जानकारी।
प्रिंटर के प्रकार – इंकजेट, लेजरजेट एव अन्य प्रकार के प्रिंटर।
आपरेटिंग सिस्टम के नाम – MS DOS, कामर्शियल एवं ओपन सोर्स, आपरेटिंग सिस्टम के नाम ।
कार्यालय के उपयोग के लायक सामान्य माईकोसॉफ्ट ऑफिस के अंतर्गत वर्ड, एक्सेल एवं पावर ___पॉइंट की जानकारी।
इंटरनेट के उपयोग – ई-मेल, डाक्यूमेंट सचिंग, वेबसाईट सर्फिग विभिन्न सरकारी विभागों के वेबसाईट की सामान्य जानकारी।
एंटीवायरस के उपयोग – कम्प्युटर वायरस से होने वाले नुकसान एवं कम्प्युटर वायरस की सामान्य
जानकारी ।
मल्टीमीडिया के उपयोग – ऑडियो, वीडियो एवं टेक्स्ट का उपयोग करने की सामान्य जानकारी।
सी.डी. / डी.व्ही. डी. से संबंधित सामान्य जानकारी।
गूगल, अलविस्ता, यू-ट्यूब की सामान्य जानकारी – सर्च इंजिन से वांछित जानकारी कैसे प्राप्त की जाए इसकी सामान्य जानकारी।

General information of Chhattisgarh (छत्तीसगढ़ की सामान्य जानकारी)

छत्तीसगढ़ का इतिहास, भूगोल, राजनैतिक व्यवस्था, अर्थव्यवस्था शासकीय योजनाएं, पुरस्कार-सम्मान, परम्परायें लोकगीत-संगीत, महत्वपूर्ण व्यक्तित्व एवं छत्तीसगढ़ से संबंधित अन्य महत्वपूर्ण विषय।

General Knowledge (सामान्य ज्ञान)

भारतीय व्यवस्था एवं संविधान – मुख्य संवैधानिक प्रावधान, मौलिक कर्तव्य एवं अधिकार, सूचना का अधिकार, सांस्कृतिक, राष्ट्रीय प्रतीक, राष्ट्रीय व्यक्तित्व, लोकतंत्र एवं चुनाव लोकसभा, राज्य सभा
भारतीय इतिहास एवं राष्ट्रीय आंदोलन – भारतीय सभ्यता एवं सांस्कृतिक, ऐतिहासित घटनाएं (छत्तीसगढ़ बोर्ड के कक्षा 10 वीं तक के पाठ्यक्रम स्तर तक), भारतीय स्वतंत्रता का इतिहास 1857 से 1947 तथा 1947 के बाद घटनाक्रम ।
भूगोल – छत्तीसगढ़ बोर्ड के कक्षा 10 वीं तक के स्तर तक सामान्य भूगोल, भारत एवं विश्व का भूगोल।
भारतीय अर्थ व्यवस्था – सामाजिक एवं आर्थिक विकास, जनसंख्या परिप्रेक्ष्य, सकल राष्ट्रीय उत्पादन और प्रति व्यक्ति आय, पंचवर्षीय योजनाएँ, कृषि व ग्रामीण विकास, औद्योगिक विकास, भारतीय अर्थव्यवस्था, बैंक प्रणाली, वर्तमान आर्थिक घटनाक्रम (छत्तीसगढ़ बोर्ड के कक्षा 10 वीं तक के पाठ्यक्रम स्तर तक)
सामान्य विज्ञान – छत्तीसगढ़ बोर्ड के कक्षा 10 वीं तक के स्तर तक भौतिकी, रसायन शास्त्र एवं जीव तथा वनस्पति विज्ञान से संबंधित मूलभूत जानकारी।

General Mental Ability (सामान्य मानसिक योग्यता)

इस भाग में निम्नांकित से संबंधित प्रश्न पूछे जायेंगे :

तर्क करना, संबंध देखना, एनालॉजी, अंकिक योग्यता आदि।

इकाई-4

रेखा एवं कोण
त्रिभुज, चतुर्भुज तथा वृत्त
गोला, बेलन, शंकु घन, घनाभ

इकाई-3

अनुपात-समानुपात
प्रतिशत, क्रय/विक्रय मूल्य, लाभ/हानि
साधारण एवं चक्रवृद्धि ब्याज

इकाई-2

बीजगणित – बीजगणित के मूलभूत नियमों/संकियाऐं
एक चर एवं दो चर वाले रैखिक/युगपत समीकरण
औसत, चाल, समय, दूरी

Mathematics (गणित)

इकाई-1

प्राकृतिक/पूर्ण/पूर्णांक/परिमेय/अपरिमेय/वास्तविक संख्याओं पर आधारित संक्रियायें।
संख्याओं का वर्ग, घन, गुणनखण्ड, वर्गमूल, घनमूल एवं घातांक नियम
महत्तम समापवर्तक और लघुत्तम समापवर्त्य
भिन्न संख्या एवं उनकी संकिया
औसत, चाल, समय, दूरी

Hindi Grammar (हिंदी व्याकरण)

स्वर, व्यंजन, वर्तनी
लिंग, वचन, काल
संज्ञा, सर्वनाम, विशेषण, क्रिया, किया विशेषण, कारक
समास रचना एवं प्रकार
संधि- स्वर, व्यंजन एवं विसर्ग संधि
रस व अलंकार, दोहा, छंद, सोरठा
व्याकरणिक अशुद्धियां
शब्द रचना – उपसर्ग एवं प्रत्यय
शब्द प्रकार, तत्सम, तदभव, देशज, विदेशी
पर्यायवाची, विलोमार्थी, अनेकार्थी शब्द, अनेक शब्दों या वाक्यांश के लिए एक शब्द
मुहावरे व लोकोक्तियां

Part Name of Subject No. of Marks/ Questions
A Hindi Grammar (हिंदी व्याकरण) 10
A General English with Grammar 10
A Mathematics (गणित) 30
B General Mental Ability (सामान्य मानसिक योग्यता) 15
B General Knowledge (सामान्य ज्ञान) 35
B Current Affairs, Sports, Country and Abroad (समसामयिक घटनाक्रम खेलखुद, देश विदेश) 15
B General information of Chhattisgarh (छत्तीसगढ़ की सामान्य जानकारी) 15
C General computer information (कम्प्यूटर का सामान्य जानकारी) 20

छत्तीसगढ़ सामान्य ज्ञान के वैकल्पिक प्रश्न उत्तर
प्रश्न. छत्तीसगढ़ राज्य का गठन कब हुआ था?


उत्तर:- 1 नवम्बर-2000

प्रश्न. छत्तीसगढ़ राज्य की राजधानी क्या हैं?

उत्तर:- रायपुर

प्रश्न. छत्तीसगढ़ राज्य में जिले कितने हैं?

उत्तर:- 27


प्रश्न. छत्तीसगढ़ राज्य में वर्तमान में संभाग कितने हैं?

उत्तर:- 5

प्रश्न. छत्तीसगढ़ की राजकीय भाषा क्या हैं?

उत्तर:- छत्तीसगढ़ी और हिंदी

प्रश्न. छत्तीसगढ़ में लोकसभा सीटें कितनी हैं?


उत्तर:- 11

प्रश्न. छत्तीसगढ़ राज्य की राज्यसभा सीटें कितनी हैं?

उत्तर:- 5

प्रश्न. छत्तीसगढ़ राज्य की विधानसभा सीटें कितनी हैं?

उत्तर:- 90


प्रश्न. छत्तीसगढ़ की सड़कों की कुल लंबाई कितनी हैं?

उत्तर:- 34930 किलोमीटर

प्रश्न. छत्तीसगढ़ का राजकीय पक्षी कौन सा हैं?

उत्तर:- पहाड़ी मैना

प्रश्न. छत्तीसगढ़ का राजकीय पशु कौन सा हैं?

उत्तर:- जंगली भैसा

प्रश्न. छत्तीसगढ़ राजकीय पेड़ कौन सा हैं?

उत्तर:- साल

प्रश्न. छत्तीसगढ़ का क्षेत्रफल कितनी हैं?

उत्तर:- 1,35,194


प्रश्न. छत्तीसगढ़ का सबसे बड़ा नगर कौन सा हैं?

उत्तर:- रायपुर।

प्रश्न. छत्तीसगढ़ का लोक नृत्य कौन सा हैं?

उत्तर:- गोडी, करमा,झूमर,डागला,पाली,तपाली,आदि

प्रश्न. छत्तीसगढ़ की सीमायें कौन से राज्य से लगीं हैं?

उत्तर:- मध्यप्रदेश, महाराष्ट्र, उत्तरप्रदेश, ओड़िशा, झारखंड, और आंध्रप्रदेश आदि

प्रश्न. इंद्रावती नदी का प्राचीन नाम क्या था?

उत्तर:- मंदाकिनी

प्रश्न. छत्तीसगढ़ की कुल जनसंख्या कितनी हैं?

उत्तर:- 2,55,45,198


प्रश्न. छत्तीसगढ़ का कुल घनत्व कितना हैं?

उत्तर:- 189/वर्ग किलोमीटर

मध्य प्रदेश सामान्य ज्ञान प्रश्न उत्तर
बिहार सामान्य ज्ञान प्रश्न उत्तर
उत्तर प्रदेश सामान्य ज्ञान प्रश्न उत्तर
rajasthan gk in hindi
प्रश्न. छत्तीसगढ़ के गठन हेतु प्रथम राजनीतिक प्रयास कब किये गए थे?

उत्तर:- वर्ष- 1998 में

प्रश्न. किस जिले का नाम परिवर्तित कर कबीरधाम रखा गया?

उत्तर:- कवर्धा

प्रश्न. छत्तीसगढ़ महासभा के गठन कब हुआ था?

उत्तर:- 1956

प्रश्न. विश्व का सबसे अधिक किंबरलाईट भंडार कहाँ है?

उत्तर:- छत्तीसगढ़।


प्रश्न. राज्य की प्रमुख फसलें कौन-कौन सी हैं?

उत्तर:- चावल, मक्का, गेहूं, मुंगफली, डालें आदि

प्रश्न. छत्तीसगढ़ राज्य के बड़े शहर कौन-कौन से है?

उत्तर:- रायपुर, दुर्ग, विलासपुर, कोरबा, भिलाई, राजनंदगांव आदि

घायल कर के मुझे उसने पूछा,
करोगे क्या फिर मोहब्बत मुझसे,
लहू-लहू था दिल मेरा मगर
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Top 30 Gk/ general knowledge/gk in Hindi/ funny gk qna quiz part 98 Top 30 Gk/ general knowledge/gk in Hindi/ funny gk qna quiz part 98 Top Gk/ important general knowledge/gk in Hindi/ funny gk qna Dosto aaj hum apko General ...

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UPSC Topper Mock Interview, Akshat Jain (Rank 2, CSE 2018) We extend our heartiest congratulations to Akshat on this great achievement and are gratified to have been a part of his journey to success. Wishing him all ...

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