One of the most important elements in a business plan is the market analysis. A market analysis is a qualitative and quantitative assessment of a market. It includes data collection and estimation in reference to the market size and value; characteristics of the intended customer base; in-depth understanding of the competition; barriers to entry and the regulatory environment.
An accurate and detailed market analysis allows entrepreneurs to determine whether the market is sufficiently large to build a sustainable, profitable business. Prepare a portion of the market analysis for your proposed business. You will create a report that can be included as part of your digital portfolio.
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