BMGT: HVAC - An Entrepreneurial Business Plan: Market

Competition

  • Describe direct and indirect competition.
  • Be sure to research the market share, resources, product and market focus, strengths and weaknesses.
  • What is unique about the other businesses that make them a competitor.

Customer

  • For business to business look at:
    • key players
    • frequency of purchase
    • replacemeet vs. expansion
    • purchase and approval process
    • length of sales cycle
  • For Business to Residential
    • income levels
    • age range
    • gender
    • educational level 
    • ethnicity
    • frequency of purchase

Marketing and Advertising

The right marketing plan identifies who your target customers are, how you will reach them, and how you will retain your customers so they repeatedly purchase your services.

Advertising and Marketing Law from the SBA

Growth Potential

Growth potential is an organization's future ability to generate increased profits, expand its workforce and increase production. An organization's growth potential depends heavily upon its leader’s expectation of success. 

Small business advice: How to prepare your company now for potential growth later

  • What is your geographic area potential for growth in your chosen market (residential or commercial)?
  • Will expanding fit into your business model?
  • Will expansion fit in with your current customers?
  • Will you have access to increased number of supplies and skilled labor force?

Target Market

  • Define and describe your target market and customers. For example: will you cater to commercial or residential customers. 
  • Discuss why and how a customer would need your product or service.
  • How will you meet the need and how big of an opportunity do you have.

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