Business development prospects

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What is market analysis
Let's say an entrepreneur is planning to open a massage parlor in a small town. But so far he has studied only one potential competitor, so he does not know who his future clients will be. In order for the start to be successful and ecuador phone number list without unnecessary loss of time and money, the entrepreneur needs to conduct a detailed analysis of the services market.


Market analysis is a detailed study of the environment in which a business will operate. It includes:

An assessment of the overall market size and the share of a particular business in it.
Identification of market characteristics.
Studying the target audience.
Competitive analysis.
Adaptation of competitors' best practices to the company's activities.
Clear definition of the mission and goals of the enterprise.
Marketing research helps to understand who the target audience is and what they need. The entrepreneur analyzes what services other companies offer and what prices they set.

This data helps to build a business model , choose a suitable location for the salon and develop effective marketing campaigns.

Why do you need market analysis?
The main goal of market analysis is to avoid wasting the company's time and money. In addition, marketing analysis helps achieve several goals.