- Customer potential – this involves considering the following. Customer spending habits, consumer purchasing potential
- Customers taste preference – levels of income and living standards
- Market size – one needs to access whether the market is large enough for him to capture market share
- Physical infrastructure – this is accessibility to the market
- Competition – one must consider the extent of competition as well as the strength of the competitors
- Consider the economies of scale – these are the benefits that can be enjoyed for operating in large scales
- Demographic trends – this is a brand perspective and includes:
- Levels of income
- Marital status
- Market budget/marketing cost – a suitable market shouldn’t be expensive and should fall within the entrepreneur budget in terms of financial and technical cost
- Market acceptance – an entrepreneur should consider the case with which his products will be accepted in the market.
- Attitude of dealers and suppliers – i.e. operations is expected from dealers and distributors.
(Visited 987 times, 1 visits today)