The market analysis proposal is a method through which businesses will approach the gauging of either their existing or potential market. This is done as a part of an overall business plan. It helps understand risk potential that would be detrimental to the company. This is necessary to incorporate changes in any market strategy already implemented or about to be implemented. This should contain feedback from existing customers and from potential customers. It is essential that the product or services that are to be launched are given center stage in this proposal. The market analysis proposal must clearly chalk out the approaches to be taken for the analysis.
Sample Market Analysis Proposal
Name of Company: Enfield Mobile and Co.
Analysis by: Mr. Ying Lee
Name of Product: K2345 Mobile Phone
Tentative period of launch: 14.5.2012
Price of product (not final price): $100 per phone
Objective: To launch a comparatively affordable phone for consumers with a tight budget but unwilling to compromise with quality and wide array of phone features.
Market Analysis Overview:
- Target Market: Families with tight budgets.
- Mobile Phone Market: 33%
- Current Competition: 20%
- Consumer response to all additional features: Positive response- 55%
- Potential Profit share within the market: 0.1%
- Risk Possibility: 0.9%
- Several factors need to be considered in terms of the packaging and look of the phone due to the several features introduced.
- Potential risk is higher than profit; so there needs to be a review of the overall product.