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The first thing I took away from the Conducting a Market Analysis for Your Business Plan article by Tim Berry (2005), is that a market
The first thing I took away from the "Conducting a Market Analysis for Your Business Plan" article by Tim Berry (2005), is that a market analysis should be done annually and it should focus on the potential future market. This point right here is what we all need to be concentrating on with our projects because we're looking at a challenger to the market leader and how the challenger might take business away, or take over a share of the business that the market leader currently has. The other point I took away from the article is that segmentation isn't just to limit the target market, but it is to help make specific messages for the different segments (Berry, 2005). Furthermore, when looking towards the future forecast, the market might be bigger than one would originally guess (Berry, 2005). So for example in my project, I might think that the market is homeowners wanting a good interior paint, but the market might include people redoing their furniture or another project in a house. I feel that I should be careful with limiting my target too early in the analysis
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