Conduct a market analysis of the company’s customers in the United States. Outline how to conduct this analysis, while considering both current and potential customers. Your analysis should address how you would determine answers to the following questions:
- What needs are being met by the products or services that they purchase? What are the benefits to the customers? Make sure that you differentiate between features and benefits; go beyond manifest motives and consider latent motives.
- Who is involved in the purchase process? Who are influencers? Who are buyers? Who are users?
- How do customers pay? Describe payment plans, financing, banking arrangements, etc.
- Where are the products or services sold and delivered, and what are the distribution channels?
- How often are the different types of the products or services purchased? Is there seasonality to sales?
- Is there any market regulation? Is there self-regulation? Do any federal or state regulations affect the company’s US operations?
- What is the size of the market (in dollars and units)? What is the growth rate of that market?
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