You are thinking to set up Cake shop business. However, you might need some financial support from the local bank.The first thing your bank manager wants to know is about the viability of the current organisation/product in the market. To show that your chosen business will be profitable (and or meaningful), you need to find market information about your organisation. As part of your market analysis, you particularly need to find out which businesses (a) complement to your product, and (b) which ones are your primary competition.

Conduct a Market analysis (environmental scanning using PESTLE model)