Market Assessments

illustration of marketing plan

What’s a market assessment?

A market assessment is an informative and concise snapshot of your market. Ideally, it contains fresh insights that your competitors don’t know. It should be supplemented by appendices documenting the information it was based upon.

Your market assessment may be the weakest link in your business plan!

Although a market assessment is mandatory content for any feasibility study or business plan, this is the part that investors often find is the weakest link. Common complaints are that the market analysis lacks substance, relies on personal opinion, is too general, and isn’t documented.

Researching your market is a time-consuming process that takes you away from your on-going business activities.

And most people find it a difficult task, since they don’t often do this type of work. Competitive intelligence, survey design and methodology, and data analysis are all fields in themselves. The bottom line — it isn’t easy to do a proper market assessment.

So why struggle with it?

It makes sense to get help from professionals with your market assessment, especially since a high-quality assessment from an independent third-party will be more credible to your banker and investors.

Our market assessments typically include:

  • Industry overview and background;
  • Industry characterization and traits;
  • Scan of the industry landscape to identify major competitors, distributors, and customers;
  • Market sizing and segmentation;
  • Definition of your specific target market;
  • Market needs and trends;
  • Buyer behavior illustrating how your customers think about buying and using the types of products and services that you offer;
  • Competitive review of your direct competitors, including their corporate capabilities, distribution channels, products, promotion, pricing,
    and strengths and weaknesses;
  • A review of significant indirect competitive threats posed by substitutes; and,
  • A report documenting the above with comprehensive appendices.

If you want to carry on with a feasibility study or business plan, you can base it on our market assessment — they fit together hand-in-glove.

Click here to contact us about your needs for a market assessment.