Market analysis for a funeral business

Assignment #3: Market Analysis

Develop your market analysis for your funeral business. Section 7-2A &B  will help you organize the description. In 3-4 paragraphs, identify your customer profile and existing competitors.

This assignment is worth 30 points and will be part of your completed business plan. The assignment must be in APA format and include at least one cited source.

Expert Partial Solution 

Market analysis for a funeral business

According to Longenecker, Petty, Palich, & Hoy (2019), customer profile identifies the crucial demographic and psychological characteristics of the customers a business considers most likely to be qualified consumers of its products or services. Business people can use marketing research information gathered from both primary and secondary data to construct this profile. Our target market includes people of different demographic characteristics such as education, homeownership, sexual orientation, age, race, gender, religion, income, marital status, and ethnicity. What is more, we will segment our customers and each segment will have a corresponding customer profile. Similarly, different target markets will have a corresponding number of related marketing strategies…Read more

References

Jenkins, I. S. (2018). Customer profile. Adventure Tourism and Outdoor Activities Management: a 21st century toolkit, 38-50.

Longnecker, J. G., Petty, W. J., Palich, L. E., & Hoy, F. (2019). Small Business Management: Launching & Growing Entrepreneurial Ventures 19th Edition. Cengage Learning.

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Market analysis for a funeral business