Market Analysis Business Report

Market Analysis Business Report
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Executive Summary
The aim of this study is to analyze the market for Coffee shops in Greater Brisbane. By applying
the data of the community profile of Greater Brisbane the study has concluded that here
marketing strategies like low pricing strategy, personalize services and offer of Wi-Fi
connections can help the Coffee shop to attracts the target population by the shop. The target
population is the individuals from age group of 19 to 60 thus from teenagers to adults all are
targeted by the shop. The industry outlook shows that Coffee shop industry is growing in Greater
Brisbane and thus to sustain in the market devising marketing strategies is very essential and this
can be done by utilizing the market analysis procedure.
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Table of Contents
Introduction......................................................................................................................................4
Significance of Market analysis.......................................................................................................4
Business Requirement of the market Analysis................................................................................5
Industry Outlook at Greater Brisbane..............................................................................................5
Target Market of the Business.........................................................................................................9
Conclusion.....................................................................................................................................13
Reference List................................................................................................................................14
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Introduction
Organizations can gain competitive advantage in several ways, however for a new startup to gain
competitive advantage is hard to achieve because this is time consuming and a startup can take
long time to gain competitive advantage (Tan, 2015.). For a startup that is new to the market, a
proper market analysis is very significant so that the new startup can sustain in the m
marketplace because lack of proper analysis may end up in shutdown of the business (Gilman,
2017). In this current study, the market analysis will be conducted for a Coffee shop in the
Greater Brisbane area of Queensland, which is located in Australia. The market analysis is
conducted for devising better marketing strategy.
Significance of Market analysis
Along with globalization, the marketplace of the economy has changed a lot and this is due to the
fact, extreme competition was faced by the organizations. This severe competition resulted in
survival strategy for the organizations and this survival strategy was the competitive advantage.
Those organizations, which were being able to gain the competitive advantage, survived in the
competitive business environment (Lee et al., 2015). Thus, it can be seen that for a business to
sustain in the marketplace it is essential to gain competitive advantage over the other business
organizations.
Market Analysis is the study of learning the characteristics of the market and this analysis is
required for running a business organization properly. This analysis is very significant for the
success of the organization because it gives idea about the competitors and the potential
customers (Adams et al., 2018). Market analysis is the process of data collection that provides a
superficial outlook of the market in which the organization is planning to set up. Effective
market analysis aids the organizations to achieve valuable insights of the market and these can be
competitors, market trends, customers profile and many more. Thus, it can be said that market
analysis is the vital element that helps the business with the essential information’s and lets it to
take the most feasible decisions out of these information’s. The core reasons why the market
analysis is important before setting the business are discussed below:
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