What are the critical needs of your potential customers

Reference no: EM133240772

Assignment - Target Market Paper

Description - You are a member of a new start-up transportation logistics company specializing in a market niche to compete with UPS and FedX. However, since January 2020, your company, like thousands of others across the world, has been severely impacted by the effects of Covid-19, also known as the Coronavirus. In order to survive your organization has to adapt and change the way, it does business. You have to develop a sound business plan to effectively compete in the logistics business during these troubling times and attract investors when current conditions are making everyone re-consider how or even IF they will be investing their money. A business plan is an essential roadmap for your business' success. This living document generally projects 3-5 years ahead and outlines the route a company intends to take to grow revenues.

Information About Your Target Market - Narrow your target market to a manageable size. Many businesses make the mistake of trying to appeal to too many target markets. Research and include the following information about your market:

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 trends that may impact your business?

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?

How much market share can you gain?- What is the market share percentage and number of customers you expect to obtain in a defined geographic area? Explain the logic behind your calculation.

Pricing and gross margin targets- Define your pricing structure (Links to an external site.), gross margin levels, and any discount that you plan to use.

When you include information about any of the market tests or research studies you have completed, be sure to focus only on the results of these tests. Any other details should be included in the appendix.

Reference no: EM133240772

Questions Cloud

Streptococcus agalactiae and salmonella typhimurium : Discuss similarities and differences between Streptococcus agalactiae and Salmonella Typhimurium in terms of

Discuss utility of using predictive analytics for healthcare : Discuss the utility of using predictive analytics for healthcare decision-making in a way appropriate to the Saudi Arabian health policy domain

Diagnostic methods used in identifying unknown organisms : Explain the diagnostic methods used in identifying unknown organisms (ie: microscope, metabolic, etc).

Review information related to bronchoscopy : 1. Review chest tubes 2. Communications with a laryngectomy patient 3. Care of the patient with epistaxis

What are the critical needs of your potential customers : 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

How modulation of voltage-gated ion channels affects : Predict the outcome when permeability of a specific ion channel is altered

Discuss how a development can affect the corporation : Discuss how a development in a corporation's natural and societal environments can affect the corporation throughits task environment

What are the phases of the bacterial growth curve : The Sphinx is describing are the life stage of man. Obviously, bacteria don't have legs (flagellin is a good substitute though!) but we need to consider the lif

Protecting water supplies-ensuring safety for communities : The United States environmental protection Agency is responsible for protecting water supplies and ensuring safety for communities

User Account

All Pages