One of the most important elements in a business plan is the market analysis. A market analysis is a qualitative and quantitative assessment of a market. It includes data collection and estimation in reference to the market size and value, characteristics of the intended customer base, in-depth evaluation of the competition, barriers to entry, and the regulatory environment. An accurate and detailed market analysis allows entrepreneurs to determine whether the market is sufficiently large to build a sustainable, profitable business. In this assignment, you will complete a market analysis for your proposed organization and create a report that can be included within a business plan. (See attached previous assignment for the proposed organization)
Write a 525-word report that includes the following sections:
Use the Market Analysis Research document for details on what to include in each section. (Attached)
Cite references to support your assignment.
Format your citations according to APA guidelines
Pastas R Us, Inc., a fast-casual restaurant chain specializing in selling soups, fast foods, and noodle-based dishes and salads. These products predominantly target customers aged between twenty-five and forty-five years. Affordability of the products is another critical aspect of consideration with regard to Pastas R Us Inc.’s target market. This is because the products sold by the company are a bit expensive, which some might consider as luxuries. Due to this, Pastas R Us Inc.’s intended market should be made up of persons with a mean household median income above the national average. In addition, at least fifteen percent of the population with the company’s target market should have a college education. Having a business model is vital, primarily when an organization seeks to operate effectively within a specific market (Chesbrough, 2010).