Market Analysis
Market analysis is an important task to do before you start a business. It is basically a standard investigation that yields research about marketplace where a company has to establish. Market analysis very much related to SWOT, PEST, and Porter 5 force model analysis just to determine the company’s position according to different parameters of marketplace. An organization may bring necessary changes in some affected areas like inventory, work force, purchases of material and capital equipment, facility expansion and promotional activities. The main objective of a market analysis is to determine the future attractiveness, opportunities and threats that relate to strength and weakness of the business. These are the following dimensions of a market analysis: • Market size (current and future) • Market trends • Growth rate of market • Market cost-effectiveness • Industry cost structure • Distribution channels • Key success factors Market Analysis of Restaurant Business Man