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Apply: Market Analysis Research
Purpose
MBA Business Plan component
Context
One of the most important elements in a business plan is the market analysis. A market analysis is a qualitative and quantitative assessment of a market. It includes data collection and estimation in reference to the market size and value, characteristics of the intended customer base, in-depth evaluation of the competition, barriers to entry, and the regulatory environment. An accurate and detailed market analysis allows entrepreneurs to determine whether the market is sufficiently large to build a sustainable, profitable business. In this assignment, you will complete a market analysis for your proposed organization and create a report that can be included within a business plan.
Instructions
Write a 525-word report that includes the following sections:
- Section 1: Business overview, mission, and vision
- Section 2: A Market analysis that includes the following components:
- Market overview/needs analysis
- Target market
- Competitive analysis
- Value proposition
- Section 3: Recommendation
Use the Market Analysis Research document for details on what to include in each section.
Cite references to support your assignment.
Format your citations according to APA guidelines.
Requirements: APA | Other | 2 pages, Double spaced
KFC is a renowned American fast-food restaurant specializing in fried chicken, and its main headquarters are in Louisville, Kentucky. The wall street journal categorizes it to be the second-largest restaurant worldwide. It was formed in the year 1930 by colonel Harland Sanders during the great depression (Shen et al., 2019). The first KFC outlet was opened in Salt Lake City, Utah. KFC’s mission is to establish the world’s most trusted and loved restaurant brand. Moreover, it aims to maximize profits, deliver sustainable growth and improve shareholder value. Its vision aims to provide an excellent customer-focussed approach and quality products. Indeed, KFC offers various delicacies or products such as fried chickens, sandwiches, hamburgers, French fries, and soft drinks. KFC’s primary target customer consists of parents with young children, teenagers, business customers, and young consumers (Rui et al., 2017). Lastly, its business model is divided into customer segment, cost structure, key activities, value proposition, key partnership, revenue stream, and key resources.
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