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Market Analysis Research

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DAT/565 v3
Market Analysis Research
DAT/565 v3
Page 2 of 2
 

Wk 3 Market Analysis Research
Section 1 – Business overview, mission and vision
Describe a proposed business of your choice. Address the following in your summary:
· What type of product/service will it offer?
· What is the intended market?
· What is the business model?
 
Articulate the business’s mission and vision statements.
 
Section 2 – Market analysis
Based on your intended product or service, describe the characteristics of your customer base.
 
Investigate and list your current competitors. For example, if you’re manufacturing and selling exercise equipment, current competitors would be companies like NordicTrack or Nautilus, Inc. To simplify the process, limit yourself to businesses you are competing directly against. If your business is a local bistro, then your competitors are other local similar restaurants.
 
Research and estimate the size of your intended market. Market size is the number of potential customers or unit sales for your products/services. Consider the nature of your business when researching market size. For instance, if your business is a local bistro, then your market size is determined by the population within a reasonable radius of the restaurant, say, 5-15 miles maximum. On the other hand, if your business intends to sell a low-weight mountain bicycle online, then the market size is the average number of low-weight mountain bicycles sold nationwide annually.
 
Estimate the value of your market. Market value is the potential revenues the market has to offer. For instance, suppose low-weight mountain bicycles have a market size of 300,000 units a year with a $500 average price. Then the market value would be $150,000,000.
 
It can be difficult to estimate market value as you must make assumptions related to market size and average unit price. Use the expected value concept introduced in Chapter 6 of the textbook and the chart below to do the estimation.
 

Expected Market Value: Mountain Bicycle Scenario

Assumptions
Probability p(x)
Units (‘000)
Avg. Unit Price ($)
Market Value (‘$000)
Expected Market Value (‘$000)

Pessimistic
0.2
100
450
45,000
9,000

Most Likely
0.5
100
500
50,000
25,000

Optimistic
0.3
100
550
55,000
16,500

Totals
1.0
300
500
150,000
50,500

 
 
 

Expected Market Value: Scenario

Assumptions
Probability p(x)
Units (‘000)
Avg. Unit Price ($)
Market Value (‘$000)
Expected Market Value (‘$000)

Pessimistic
0.30
200
450
90,000
27,000

Most Likely
0.50
300
500
150,000
75,000

Optimistic
0.20
375
550
206,250
41,250

Totals
1.0
875
500
446,250
143,250

 
 
 
Calculations:
Probability, P(x) must sum to 1.0 (100%)
Market Value = Units * Ave. Unit Price ($)
Expected Market Value = Market Value * Probability
 
Estimate the total addressable market or TAM. This is the fraction of the total market you realistically estimate to get. Most businesses have a relatively modest market share, well under 20%. For example, if we expect to get a 5% share of the mountain bicycle market, then our TAM would be: 0.05 * $102,110,000 = $5,105,500 or approximately $5.1 million.
 
 
Section 3: Recommendation
Based on the information collected, do you feel it is a good idea to continue with the implementation of the business? Explain why or why not.
 
Cite references to support your assignment.
 
Format your citations according to APA guidelines.
Copyright 2021 by University of Phoenix. All rights reserved.
Copyright 2020 by University of Phoenix. All rights reserved.

DAT/565 v3
 
Copyright 202
1
 
by University of Phoenix. All rights reserved.
 
 
Wk 3
M
arket Analysis Research
 
Section 1

 
Business
 
overview, mission and vision
 
Describe
 
a
 
proposed business
 
of your choice
.
Address the following in your summary:
 
·
 
What type of product/service will it offer?
 
·
 
What is the intended market?
 
·
 
What is the business model?
 
 
 
Articulate
 
the business’s mission and vision statements.
 
 
 
 
Section 2
 

 
Market analysis
 
 
 
Based on your intended product or service, describe the
characteristics of your customer base.
 
 
 
 
Investigate
 
and list your current competitors. For example, if you’re manufacturing and selling exercise
equipment, current competitors
 
would be companies like NordicTrack or Nautilus, Inc. To simplify the
process
, limit yourself to businesses you are competing directly against. If your business is a local bistro,
then your competitors are other local similar restaurants.
 
 
 
 
Research
 
and estimate the size of your intended market. Market size is the number of potent
ial
customers or unit sales for your products/services. Consider
 
the nature of your business when
researching market size. For instance, if your business is a local bistro, then your market size is
determined by the population within a reasonable radius of
 
the restaurant, say, 5

15 miles maximum. On
the other hand, if your business intends to sell a low

weight mountain bicycle online, then the market size
is the average number of low

weight mountain bicycles sold nationwide annually.
 
 
 
 
Estimate
 
the value
of your market. Market value is the potential revenues the market has to offer. For
instance, suppose low

weight mountain bicycles have a market size of 300,000 units a year with a $500
average price. Then the market value would be $150,000,000.
 
 
It can b
e difficult to estimate market value as you
 
must
 
make assumptions related to market size and
average unit price. Use the expected value concept introduced in Chapter 6 of the textbook and the chart
below to do the estimation.
 
 
 
Expected Market Value: Moun
tain Bicycle Scenario
 
 
 
Assumptions
 
 
Probability p(x)
 
 
Units (‘000)
 
 
Avg. Unit
Price ($)
 
 
Market Value
(‘$000)
 
 
Expected
Market
Value
(‘$000)
 
Pessimistic
 
 
 
0.2
 
100
 
450
 
45,000
 
9,000
 
Most Likely
 
 
 
0.5
 
100
 
500
 
50,000
 
25,000
 
DAT/565 v3
Copyright 2021 by University of Phoenix. All rights reserved.
 
Wk 3 Market Analysis Research
Section 1 – Business overview, mission and vision
Describe a proposed business of your choice. Address the following in your summary:
 What type of product/service will it offer?
 What is the intended market?
 What is the business model?
 
Articulate the business’s mission and vision statements.
 
Section 2 – Market analysis
Based on your intended product or service, describe the characteristics of your customer base.
 
Investigate and list your current competitors. For example, if you’re manufacturing and selling exercise
equipment, current competitors would be companies like NordicTrack or Nautilus, Inc. To simplify the
process, limit yourself to businesses you are competing directly against. If your business is a local bistro,
then your competitors are other local similar restaurants.
 
Research and estimate the size of your intended market. Market size is the number of potential
customers or unit sales for your products/services. Consider the nature of your business when
researching market size. For instance, if your business is a local bistro, then your market size is
determined by the population within a reasonable radius of the restaurant, say, 5-15 miles maximum. On
the other hand, if your business intends to sell a low-weight mountain bicycle online, then the market size
is the average number of low-weight mountain bicycles sold nationwide annually.
 
Estimate the value of your market. Market value is the potential revenues the market has to offer. For
instance, suppose low-weight mountain bicycles have a market size of 300,000 units a year with a $500
average price. Then the market value would be $150,000,000.
 
It can be difficult to estimate market value as you must make assumptions related to market size and
average unit price. Use the expected value concept introduced in Chapter 6 of the textbook and the chart
below to do the estimation.
 
Expected Market Value: Mountain Bicycle Scenario
Assumptions  Probability p(x)  Units (‘000)
Avg. Unit
Price ($)
Market Value
(‘$000)
Expected
Market
Value
(‘$000)
Pessimistic  0.2 100 450 45,000 9,000
Most Likely  0.5 100 500 50,000 25,000

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