Industry and Market Analysis
In this section, analyse target market, conduct market research, including value of markets based on willingness to pay, competitive analysis, forecasts of user demographics and Web site traffic volumes.
No matter how good your product or service can be, the e-business may suffer or fail unless its products or services are properly marketed. To achieve this, effective marketplace research is needed. If you know what the market place has on offer, market trends and benefits to the consumer/client, then your marketing plan should enable you to fully compete.
Competitive environment/competitive advantage
Make sure you include a SWOT Analysis for the proposed e-business
- How will your e-business stand out from the crowd?
- What makes your e-business different from other businesses?
- What makes your individual products different?
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