Please explain study guide business plan

T-Mobile Wi-Fi - 7:54 PM 30% O learn.vccs.edu Submitting a text entry box or a file upload GraInIed Dawn IaInIRd IRIaua6 IV. Market Analysis H. Market Segmentation Variables 1. Pick a minimum of two variables used to segment your target market. Discuss in detail. 2. Sources to use for researching target market 1. Target Market selection 1. Information About Your Target Market - Narrow your target market to a manageable size. 2. Distinguishing characteristics - What are the critical needs of your potential customers? Are those needs being met? What are the demographics of the group and where are they located? Are there any seasonal or cyclical purchasing trends that may impact your business? J. Buyer Behavior 1. Customer buying habits (seasonality, quantity, average expenditure) K. Competitor Analysis L. Estimate of Market Share and/or Annual Sales 1. Size of the primary target market - In addition to the size of your market, what data can you include about the annual purchases your market makes in your industry? What is the forecasted market growth for this group? 2. Calculating Market Share Table 1 Market Share Calculations How do you calculate the market share? A Part 1 Calculating Market Share 1. Determine the period you want to examine for each company you are investigating. ... 2. Calculate the company's total revenue (also called total sales). ... 3. Find the total market sales. ... 4. Divide the target company's total revenue by the entire industry's total market sales. Unit Sales Unit Market Share (%) = Total Market Unit Sales Revenue Market Share (%) = Sales Revenue Total Market Revenue Marketing PT I (MA) PR (1)