supporters, evangelists and also visitors in order for the organization
to be a success (Worth,
2014, p.22). You cannot assume the community because the
organization exists because of the
community. The community acts as the main market for the
organization. Therefore, this is an
important aspect that these organizations should consider.
In every business needs market analysis that usually comes from a
business plan. As the
market change market analysis, should be renew every year. A market
analysis is a quantitative
and qualitative assessment of a market. It looks into the size of the
market both in volume and in
value, the various customer segments and buying patterns, the
competition, and the economic
environment in terms of barriers to entry and regulation. NON-
PROFIT ORGANIZATION 3 Industry Description and Outlook –
Describe your industry, including its current size and historic
growth rate as well as other trends and characteristics (e.g., life cycle
stage, projected growth
rate). Next, list the major customer groups within your industry.
Information About Your Target Market – Narrow your target market
to a manageable size. Many
businesses make the mistake of trying to appeal to too many target
markets. Research and
include the following information about your market: Distinguishing
characteristics – What are the critical needs of your potential
customers? Are
those needs being met? What are the demographics of the group and
where are they located? Are
there any seasonal or cyclical purchasing trends that may impact your
business? Size of the primary target market – In addition to the size of
your market, what data can you
include about the annual purchases your market makes in your
industry? What is the forecasted
market growth for this group? For more information, see our market
research guide for tips and