Market analysis is an important stage before a person wants to start a business. Market analysis is about determining the characteristics of a particular market, analyzing the information, to gather valuable data which will help the owners to understand the customers, determine appropriate pricing, figure out competitor’s vulnerabilities and so on.
4.1 Market segmentation and target market selection
Before we start a business, we need to make a research or analysis how we create value for targeted customers. First, Unicon Sdn should select customers to serve and have to identify bases for segmenting a market (Market segmentation). After that, develops segment profiles to measure segment attractiveness and next selects