Target Market and SWOT

Target Market and SWOT

For Milestone Two, you will submit a draft of the Target Market Analysis (Section II) and Industry and Organization Factor Analysis (Section III).

In the draft, you will analyze your target market to inform your plan for pricing, placing, and promoting your product or service within the market. You will also examine your sport organization by conducting a SWOT (strengths, weaknesses, opportunities, and threats) analysis and evaluating the readiness of your organization to enter the target market of the selected product or service.

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APA

Define Your Target Market: Start by identifying who your customers are. Are you targeting sports enthusiasts, casual fans, youth, or a specific demographic based on income, location, or lifestyle?
Market Segmentation: Break down the market into segments. For example, you might segment by age (youth, adults, seniors), by geographic location (local, regional, national), or by behavior (frequent sports consumers vs. occasional ones).
Competitor Analysis: Understand who your competitors are and how they target their market. What pricing, promotion, and placement strategies do they use?
Market Trends and Needs: Analyze trends in the sports industry. Are there growing interests in particular sports, technologies, or services that your target market values? What problems does your product or service solve?

Industry and Organization Factor Analysis (Section III)

SWOT Analysis: Conduct a SWOT analysis of your organization to evaluate its readiness for entering the target market.
- Strengths: What internal factors give your organization a competitive edge? This could be your brand, reputation, technology, or partnerships.
- Weaknesses: What are the internal challenges or gaps that might hinder your success in the market? These could include limited resources or brand recognition.
- Opportunities: What external factors or market trends could be capitalized on to grow your business? This might involve emerging technologies or shifts in consumer behavior.
- Threats: What external factors could pose challenges, such as economic downturns, competition, or changing regulations?
Organization Readiness: Assess whether your organization is prepared for the market entry. Consider your current resources, capabilities, and how well you can implement your…