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- Business markets often serve a smaller consumer market that contains large buyers1. Other characteristics of business markets include:
- Business markets can facilitate business between companies that are far away from each other in terms of location1.
- Demand in business markets remains consistent and unaffected by changes in prices1.
- Market analysis includes quantitative data such as the actual size of the market you want to serve, prices consumers are willing to pay, revenue projections, and qualitative data such as consumers’ values, desires, and buying motives2.
- The market analysis includes details like the number of customers you hope to serve and the types of competitors you must contend with3.
- The customer analysis looks at the specific attributes of your potential customers – their personal habits, values, beliefs, and other characteristics that might affect their purchasing decisions3.
Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.Here are a few common characteristics of business markets: Business markets often serve a smaller consumer market that contains large buyers. Business markets can facilitate business between companies that are far away from each other in terms of location. Demand in business markets remains consistent and unaffected by changes in prices.www.indeed.com/career-advice/career-developme…Market analysis includes quantitative data such as the actual size of the market you want to serve, prices consumers are willing to pay, revenue projections, and qualitative data such as consumers’ values, desires, and buying motives.www.coursera.org/articles/market-analysisThe market analysis includes details like the number of customers you hope to serve and the types of competitors you must contend with. By contrast, the customer analysis looks at the specific attributes of your potential customers – their personal habits, values, beliefs, and other characteristics that might affect their purchasing decisions.www.bplans.com/business-planning/how-to-write/m… - People also ask
How to do a market analysis for your business plan
Learn how to conduct a market analysis for your business plan, including industry, target market, and competitive analysis. Find out what data and sources to use and how to present your findings. See more
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