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For your Business Plans write a full, detailed summary of who your market is – specifically who is the customer segment that you are targeting. Be detailed. Don’t just say men or women. Ex. Working women age 35 – 65 who are health conscious and have an income of $65,000 – $100,000. Explain what need of theirs is being fulfilled and why they will buy from you vs. a competitor. Again be as detailed and as descriptive as possible. Should be about a page.
Also create a SWOT analysis for your company and 2 competitors. SWOT stands for Strengths, Weaknesses, Opportunities, and Threats. The best way to submit this is as a grid with 3 rows and 4 columns. The 3 rows will be your company, competitor 1 and competitor 2. The 4 columns will be Strengths, Weaknesses, Opportunities and Threats. Hint: Strengths and Weaknesses are internal to a company and Opportunities and Threats are external to a company.
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