Market Analysis:

The market analysis for a service industry will include:-

• Components of population
• Why the customers want the services;
• Buying motives in different market segments;
• Buying patterns of service (when, where, how and who does buying). Psychological determinants of buyer behaviour, e.g. attitude, perceptions, personality.
• Sociological factors, e.g. social class, small-group influence, etc.
• External and internal factors of business environment.