Market A & S Reminders

Ultimately, you should consult this PowerPoint.  But, when creating your Market Analysis/Strategy document, there are a few things that I felt needed mention. These are suggestions, if not requirements, for drafting a successful document.

• Be sure that you are explicating your market, target market, etc., giving information as to not only what it is, but why this is what you have chosen--how it is a good choice--and what you stand to gain ($$$$$) from this selection;
• Adhere to the design principles that we discussed in class;
• Use Headings and Sub-headings to make your document more accessible--easily navigable
• Use visuals (e.g. charts, graphs, tables, etc.) and other design elements (e.g. color, font, style, etc.) to help your reader(s) understand the content and to make the document more attractive (both on an aesthetic and approachable level);
• Cite/Reference your sources in a consistent and professional manner. While using MLA or APA is not necessarily appropriate, you might consider using footnotes or endnotes to clearly illustrate where your information comes from (think ethos!).
• Also, remember that "Lexis Nexus" (for example) is an interface, not a source. You use it to retrieve information--as such, it should not be your "source" listed in the document. The source is the article, journal, etc.
• On your Market Strategy, if you say you are going to be advertising in, for example, the newspaper, you need to know which one, how much an ad costs (not a classified) based on the size, color, graphics, length of run, etc.--and then do the math as to what that would cost per year. If you are using web advertising on a "pay-per-click" basis, same thing. Find this information. More specifics and less generalities.
• On your market strategy, you need to include projections for five years, as you will be doing a 3-5 year pro forma in your business plan. Will you increase your marketing efforts in the second, third, etc. years? Decrease? By how much? Change strategies? What is the overall plan?