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- Market justification in a business plan is important because it1234:
- Communicates the virtues of the product and how it satisfies the needs of its intended customers.
- Demonstrates the knowledge gained about the industry, the target market, competition, and how to make the business stand out.
- Provides evidence that there is a niche in the market that the company can exploit.
- Ensures that people are willing to pay for the business idea.
- Provides a foundation on which the marketing and sales plan will rest.
Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.The most vital justification for a structured marketing plan is how well it communicates the virtues of its product. The plan must show how the company's product satisfies the needs of its intended customers and how it meets those needs differently from its competitors.smallbusiness.chron.com/justification-structured-m…In writing up your market analysis, you’ll get to demonstrate the knowledge you’ve gained about the industry, the target market you’re planning to sell to, your competition, and how you plan to make yourself stand out. A market analysis is just that: a look at what the relevant business environment is and where you fit in.aofund.org/resource/business-plan-section-5-mark…The market analysis section of your plan provides evidence that there is a niche in the market that your company can exploit. This analysis also provides the foundation on which your marketing and sales plan will rest.www.wolterskluwer.com/en/expert-insights/market …Use your market research to make sure people don't just like your business idea, but they're also willing to pay for it. If you have information suggesting that you have a large enough market to sustain your business goals, write the market analysis in the form of several short paragraphs using appropriate headings for each.www.thebalancemoney.com/how-to-write-a-busine… - People also ask
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