3.1. Market & Competition

The subject of this chapter are modules 4, 5 and 6 from the already known knowledge map for the business plan.

Module 4 - "Market & Competition" deals with the market structures and competitive conditions you need to investigate in order to successfully place your business in the market. You will learn about the criteria you should use to conduct your market research from the perspective of the business idea. You will probably need the most time to complete the module, as you will have to look at the real conditions in the relevant industry on site. You need to collect market data, company data, competition data and general information that has an impact on your business. Supply and demand meet in the market.  

When you have learned how the market works, you have learned a lot about the marketing of your competitors. In Module 5 - "Marketing & Sales" you will learn how to set up a marketing concept and which marketing instruments exist.  Based on this, you will learn to create a marketing mix for your start-up idea. In the advertising planning you have to determine the various possibilities of the marketing mix concretely for your company. A successful marketing plan has direct effects on the sales forecast.  

With module 6 - you will learn to set up a "sales planning & turnover forecast" for your company. This is only possible after you have gained knowledge about the market and your customers. You have to make a forecast about how many products or services customers will buy from you in a day, in a week, in a month, in a year and finally in three years. This is not about writing down wishful thinking numbers. You learn to make a realistic sales forecast.