Your market analysis studies the dynamics of a market and what makes potential customers tick. For this professional assignment, you will develop a market analysis for your business. Product is called SwapSoles which are some innovative shoes that allow you to change the soles to perform sports and do leisure activities as well. (This is an imaginary product; it does not exist)
* All the information is already provided in the Word Document attached. You just need to re-structure the information into the following structure, paraphrase all the text to eliminate plagiarism, and add more relevant data from peer-reviewed sources. It is very important that you re-write the information as this is information is from another class assignment and would appear as plagiarism if not properly paraphrased.
Structure of the report:
- Summary of your product + Distinguishing characteristics (2 paragraph minimum)
- Industry description and outlook (1 paragraph minimum)
- Target markets (2 paragraphs minimum)
- Customer profile (1 paragraph minimum)
- Customer needs (1 paragraph minimum)
- Trends (2 paragraphs minimum)
- Potential competitors (2 paragraphs minimum)
-Font: Times New Roman, Size 12
-At least six (6) peer-reviewed sources (include DOI in reference page) (Use some of the existing references but add at least 3 new references)
-No plagiarism (IMPORTANT)
Requirements: follow structure indicated
different customers according to various attributes (Dolnicar et al., 2018). Due to this, an organization can maximize product sales and improve its profit margins (Dolnicar et al., 2018). SwapSoles are designed to cater to predominantly fashion and health-conscious customers and those who play different sports, be it at the professional or amateur levels. Concerning demographics, the product will target customers aged between 15 and 40 years.
This target market will include children in high school who prefer using the same pair of shoes for their everyday activities and for extra-curriculum activities such as playing sports. Furthermore, the product targets adults who like going to the gym before or after work. The product will also target amateur and professional athletes, considering they not only play on different surfaces but also are fashion conscious. Concerning lifestyle and economic status,[1530 Words]